Wells Fargo offers three terms of certificates of deposit (CDs) with annual percentage yields that are well below the APYs offered by other top-yielding banks. Another drawback is the $2,500 minimum deposit, which can put Wells Fargo CDs outside the reach of some savers.

Wells Fargo earned a 3.5 out of 5 stars in Bankrate’s overall review of the bank, with its CDs earning 2.9 out of 5 stars.

Wells Fargo CD rates

Wells Fargo offers standard rate CDs that require a minimum $2,500 deposit. You can also earn relationship rates on these CDs by linking a Portfolio by Wells Fargo checking account:

Account Term Standard APY Minimum deposit for APY
Standard Fixed Rate CD 3 months 0.50% $2,500
Standard Fixed Rate CD 3 months 1.01% $100,000
Special Fixed Rate CD 5 months 4.25%* $5,000
Standard Fixed Rate CD 6 months 2.50% $2,500
Standard Fixed Rate CD 1 year 1.50% $2,500
Standard Fixed Rate CD 1 year 2.00% $100,000

Note: Annual percentage yields (APYs) shown are as of May 24, 2023, and may vary by region for some products. Not all CD terms are listed. Relationship APYs aren’t listed.

*A 4.51 percent APY relationship rate is also available. You’ll need to link the CD to a Wells Fargo Premier Checking account, Prime Checking account or a Private Interest Checking account to get the relationship APY.

How Wells Fargo CDs compare with top-yielding banks

Wells Fargo offers three standard term options on its website that can be useful when planning out your savings goals. The APYs, however, are generally lower when compared with CDs offered by other financial institutions. The best APYs on the market are above 5 percent APY for one-year CD terms, which is considerably higher than the APYs offered by Wells Fargo.

You can likely find a better option than Wells Fargo, if you have some savings that you would like to move into a CD. Bread Savings, Live Oak Bank and Marcus by Goldman Sachs are among those that offer top rates. Compare top CD rates before committing money to an account that doesn’t have a competitive yield.

Other savings options at Wells Fargo

Wells Fargo also offers IRA CDs, with terms ranging from one month to 12 years in monthly increments on its website. An IRA CD can be opened with a $1,000 deposit, and relationship rates are also available. Beyond CDs, Wells Fargo has a couple of savings account options with access to an expansive network of branches and ATMs but comparatively low APYs.