Wells Fargo CD Rates: How They Compare

Spencer TierneyMay 18, 2020

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Wells Fargo CD rates

Rates can vary by location and deposit amount, and whether you already have Wells Fargo premium checking. Here's a range of non-bonus rates for San Francisco:

  • 3-month: 0.05% APY

  • 5-month: 0.30% APY

  • 6-month: 0.10% APY

  • 1-year: 0.15% APY

Wells Fargo, though it gets good marks in other areas, offers low CD rates with high minimums. And unlike other big banks, there aren’t many terms to choose from. Having the bank’s premium checking provides a slight boost to rates.

Wells Fargo CD rates

  • Standard vs special CDs. Wells Fargo has two main kinds of CDs: “standard CDs,” which require $2,500 to open, and “special CDs,” which require $5,000.

  • Bonus vs. non-bonus rates. Each CD rate has two levels: bonus and non-bonus (or “standard”). The bonus rate is available only if you have a Portfolio by Wells Fargo, which is an interest checking account that requires a high minimum balance, such as $25,000, to waive the steep monthly fee.

  • Focus on short terms: This year Wells Fargo shifted its online CD offerings from longer to shorter terms; all of its current CD rates are at or below one year.

  • Most CD rates aren’t online. You must call or visit a branch to get rate details. Here’s a look at most of the Wells Fargo CDs online.

CD term

Non-bonus rate*

Bonus rate*

Minimum deposit

3-month (Standard CD rate)




5-month (Special CD rate)




6-month (Standard CD rate)




1-year (Standard CD rate)




*Rates listed are for San Francisco. Rates can vary by location.

» Want more options? See our list of the best CD rates

How Wells Fargo CD interest rates compare

Wells Fargo CD rates, even bonus rates on special CDs, are very low compared to many online bank CD rates. Here's a look at one-year CD rates at Wells Fargo and two online banks.

Wells Fargo CD

Wells Fargo CD

Barclays CD

Barclays CD

Read reviewRead review


With $2500 minimum balance



With $0 minimum balance



With $500 minimum balance

Minimum Balance


Member FDIC

Minimum Balance


Member FDIC

Minimum Balance


Member FDIC

» Want to check how the national bank ranks overall? See our Wells Fargo review

More details about Wells Fargo CDs

Minimum deposit

  • $2,500 for standard CDs

  • $5,000 for special CDs

  • Monthly fee

    None, which is common for CDs.

    Range of CD terms

    3 months to 12 years, but only a handful are listed online.

    Compounding period

    Daily. (This detail helps you estimate what you can earn using a CD calculator.)

    Early withdrawal penalty

  • 1 month's interest for CD terms less than 3 months.

  • 3 months' interest for CD terms from 3 to 12 months.

  • 6 months' interest for CD terms from 1 year to 2 years.

  • 12 months' interest for CD terms over 2 years.

  • Grace period

    7 days after the CD's maturity date. Wells Fargo CDs automatically renew, so this 7-day window is the only time to withdraw without getting hit by a penalty.

    Wells Fargo IRA CD available?


    What to consider when opening CDs

    • Most interest rates are fixed. If you open nearly any of Wells Fargo bank CDs today, its APY will stay the same until the CD expires. This benefits you if you lock in a CD before rates start dropping, but on the flip side, you’ll earn less on a CD once rates rise again. It’s hard to know when CD rates go up, but here’s a quick look at historical CD rates, including this year’s.

    • One other type of CD. Wells Fargo has a step-rate CD, which has planned rate increases during its term instead of a fixed rate, but this CD can be opened only at a branch. (Learn more about various types of CDs).

    • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into a Wells Fargo CD before it expires, there’s an early withdrawal penalty, which means losing some or all of the interest you earned.

    » On the fence about a CD? If there’s a chance you’ll need access to your money, consider one of the best high-yield savings accounts instead.

    Limited terms, low rates

    Wells Fargo CD rates don’t have many attractive features. You can find more conventional terms and more options on our list of the highest CD rates this month.

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