Wells Fargo savings account rates
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Wells Fargo offers two savings accounts with rates starting at 0.01% APY — much lower than what top online banks currently offer.
Its Platinum Savings offers relationship rates up to 0.05% APY, which is still paltry compared to other accounts. Plus, you'll need to link to a Wells Fargo checking account to qualify. Wells Fargo's 4,200 branches provide convenience, but that access costs you hundreds to thousands in lost interest annually.
Wells Fargo savings account interest rates
Wells Fargo offers two savings accounts: Way2Save Savings and Platinum Savings. For most customers, the difference between them is minimal — both pay 0.01% APY unless you qualify for Platinum's relationship rates.
- Way2Save Savings is Wells Fargo's basic savings account with a $5 monthly fee (waived with $300 minimum daily balance or automatic savings transfers). It includes an automatic savings feature that transfers $1 from checking to savings with each debit card purchase.
- Platinum Savings charges a $12 monthly fee (waived with $3,500 minimum daily balance or linked checking). The main advantage is access to relationship rates if you link the account to Prime Checking, Premier Checking, or Private Bank Interest Checking.
| Account name | APY | Minimum balance |
|---|---|---|
| Way2Save Savings | 0.01% | $25 |
| Platinum Savings | 0.05% | $25 |
| Platinum Savings (with linked Prime Checking account) | 0.02% | $25 |
| Platinum Savings (with linked Premier Checking account) | 0.05% | $25 |
Note: Annual percentage yields (APYs) shown are as of December 25, 2025, and may vary by region for some products.
Rate history for Wells Fargo's savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
How Wells Fargo savings accounts compare to top-yielding banks
The gap between Wells Fargo and competitive savings accounts is substantial. Online banks consistently offer rates 400+ times higher because they don't maintain expensive branch networks. They pass those cost savings directly to customers through higher APYs.
Bask Bank and LendingClub Bank are among the online-only banks offering some of the highest rates.
A higher APY can help you reach your savings goals faster. It can be difficult to justify stashing your savings in an account offering only 0.01 percent when other options pay significantly more. Having an account with Wells Fargo, however, may interest those who value the accessibility of its many branches and ATMs.
Other savings options at Wells Fargo
Wells Fargo also offers CDs but they also have the same fundamental problem: below-market rates. If you're serious about growing your savings rather than just parking money, Wells Fargo's product lineup won't help you reach your goals efficiently.