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Wells Fargo offers several certificates of deposit with a range of terms that you won’t find at many banks. The CD yields are respectable, and the brand is a household name; however, you can find much higher APYs offered elsewhere. You can also find CDs that require lower minimums. At Wells Fargo, some of its CDs require you to make a minimum deposit of $5,000.

Wells Fargo earned a 4.1 out of 5 stars in Bankrate’s overall review of the bank.

Wells Fargo CD rates

Wells Fargo offers special and standard rate CDs. The special rates require you to deposit at least $5,000. The standard rates require you to deposit $2,500. You can also earn bonus rates on these CDs if you link a Wells Fargo Prime Checking or Portfolio Account.

Let’s take a closer look at the CDs that Wells Fargo has to offer. The rates listed below are for San Francisco and can vary depending on where you live.

Account Term Interest rate APY Minimum deposit
Special Fixed Rate CD 9 months 1.44% 1.45% $5,000
Special Fixed Rate CD 29 months 1.14% 1.15% $5,000
Special Fixed Rate CD 39 months 1.14% 1.15% $5,000
Standard Fixed Rate CD 3 months 0.05% 0.05% $2,500
Standard Fixed Rate CD 6 months 0.30% 0.30% $2,500
Standard Fixed Rate CD 1 year 0.15% 0.15% $2,500

How Wells Fargo CDs compare to top-yielding banks

Wells Fargo offers a range of term options that can be useful while planning out your savings goals. However, the CDs lack impressive APYs that other financial institutions offer. Currently, the best APYs on the market are 2.05 percent APY  for 1-year and 2-year CD terms, which is considerably higher than the CD APYs offered by Wells Fargo. Note: You can earn a bonus on Wells Fargo’s CDs to earn more interest; however, it requires you to have other products from the bank and you can still find higher yields elsewhere.

If you have some savings that you would like to move into a CD, you can likely find a better option than Wells Fargo. Barclays, Ally and Marcus by Goldman Sachs are among the brands offering top rates. Compare top CD rates before committing your money to an account with lackluster returns.

Other savings options at Wells Fargo

If you’re looking for more flexibility, you can also consider Wells Fargo’s step rate CD. In exchange for parking at least $2,500 in a 24-month CD, you will currently get a yield that automatically increases. It also offers retirement CDs.

Beyond CDs, Wells Fargo offers a lineup of savings and money market accounts. The accounts do not offer high APYs.