Wells Fargo CD rates


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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 brand is a household name; however, you can find much higher APYs 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 2.5 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.

Account Term Interest rate APY Minimum deposit
Standard Fixed Rate CD 3 months 0.01% 0.01% $2,500
Standard Fixed Rate CD 6 months 0.01% 0.01% $2,500
Standard Fixed Rate CD 1 year 0.01% 0.01% $2,500

You can earn a slightly higher APY on a CD if you also maintain a linked Wells Fargo Prime Checking or Wells Fargo Portfolio checking account.

Note: The APYs (Annual Percentage Yield) shown are as of May 3, 2021. The APYs for some products may vary by region.

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 around 0.65 percent APY for one-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 Wells Fargo bank products – and you could 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. Sallie Mae, 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 has a couple of savings account options that do not offer high APYs.

Written by
Sarah Sharkey
Contributing writer
Sarah Sharkey is a contributing writer for Bankrate. Sarah writes about a range of subjects, including banking, savings tips, homebuying, homeownership and personal finance.
Edited by
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