Wells Fargo offers three terms of certificates of deposit (CDs) with annual percentage yields that are well below the APYs offered by other 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 3.2 out of 5 stars in Bankrate’s overall review of the bank, with its CDs earning 2.5 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 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

Note: The relationship APY for each CD term is 0.02 percent for all balance tiers. Annual percentage yields (APYs) shown are as of Feb. 16, 2022, and may vary by region for some products.

How Wells Fargo CDs compare with top-yielding banks

Wells Fargo offers three term options that can be useful when planning out your savings goals. The APYs, however, are insubstantial compared with CDs offered by other financial institutions. The best APYs on the market are 0.65 to 0.85 percent APY for one-year CD terms, which is considerably higher than the APYs offered by Wells Fargo.

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 those that offer top rates. Compare top CD rates before committing money to an account with lackluster returns.

Other savings options at Wells Fargo

Wells Fargo also offers retirement CDs, or IRA CDs, with terms ranging from three months to 12 years in monthly increments. 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.

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