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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: 0.50% APY.
- 6-month: 0.50% APY.
- 1-year: 1.50% APY.
Wells Fargo offers CDs with generally low rates and high minimums. And unlike other big banks, there aren’t many terms to choose from. Having the bank’s premium checking account provides a slight boost to rates.
» COMPARE: See the best CD rates
Wells Fargo CD rates
- Standard CDs vs. special CDs. Wells Fargo has standard CDs that require $2,500 to open and special CDs with higher rates and a much higher minimum of $5,000 to open. (See how CD specials work.)
- Relationship rates vs. standard rates. Each CD has two rate levels: standard and relationship. The relationship rate is available only if you have a linked private banking or premium checking account such as Prime Checking, which is an interest checking account that requires a high minimum balance, such as $20,000, to waive the steep monthly fee.
- Focus on short terms: Wells Fargo’s online CD offerings are only short terms; most big banks feature wider ranges online from one- to five-year terms.
- Most CD rates aren’t online. Visit a branch to get other rate details. Here’s a look at most of the Wells Fargo CDs online.
| CD term | Standard rate* | Relationship rate* | Minimum deposit |
|---|---|---|---|
| 3-month (Standard CD rate) | 0.50% APY. | 0.51% APY. | $2,500. |
| 4-month (Special CD rate) | 3.49% APY. | 3.75% APY. | $5,000. |
| 6-month (Standard CD rate) | 0.50% APY. | 0.51% APY. | $2,500. |
| 7-month (Special CD rate) | 3.24% APY. | 3.50% APY. | $5,000. |
| 11-month (Special CD rate) | 2.99% APY. | 3.25% APY. | $5,000. |
| 1-year (Standard CD rate) | 1.50% APY. | 1.51% APY. | $2,500. |
| *Rates listed are for San Francisco. Rates can vary by location. | |||
More details about Wells Fargo CDs
| Minimum deposit | $2,500 for standard CDs. $5,000 for special CDs. These are higher than average minimum deposits for CDs. |
| Range of CD terms | 3 months to 10 years, but only a handful are listed online. The online CD range of terms is far shorter than at other big banks, but the full range offline is comparable. |
| Early withdrawal penalty |
Compare early withdrawal penalties by bank. |
| Other fees | None, which is common for CDs. |
| Grace period | 7 days after the CD's maturity date. Wells Fargo CDs automatically renew, so this window is the only time to withdraw without getting hit by a penalty. Compare grace periods by bank. |
| Types of account ownership |
Note: Wells Fargo doesn’t offer IRA CDs (for retirement). |
» Want to check how the national bank ranks overall? See our Wells Fargo review
Want to compare CD details?
View a curated list of CD reviews to see all rates, minimum requirements and other details at online and traditional banks and one brokerage.
Frequently Asked Questions
Is Wells Fargo a good bank for CDs?
If rates are your primary goal, then no. Wells Fargo is comparable to other national banks in that CD rates tend to be low. For an example, see our Chase vs. Wells Fargo comparison.
What types of CDs does Wells Fargo offer?
Wells Fargo focuses on exclusively short-term CDs for online customers, with both standard terms such as three months, six months and one year as well as CD specials such as four months, seven months and 11 months.
Does Wells Fargo offer a high-yield savings account?
No, the banking giant doesn’t have nearly as competitive rates as those at online banks. See our list of the best high-yield savings accounts.
What to consider when opening CDs
- Interest rates are fixed. If you open a Wells Fargo bank CD today, its APY will stay the same until the CD expires. Here’s a quick look at historical CD rates. Or, if you want to see where rates are heading, see our CD rate forecast.
- Interest accrues in a CD during the term, so you can benefit from compound interest. (See our CD calculator page or use the calculator below.) You can request to receive interest as regularly scheduled payments, or disbursements, to an external account or by check. The frequency can be monthly, quarterly or at longer intervals.
- Be aware of two common rules with CDs: You generally can’t make partial withdrawals of the initial CD balance or add additional funds after making a deposit into a CD.
- 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. (Learn more about various types of CDs).
» Unsure about CDs? Consider the best high-yield savings accounts instead
About Wells Fargo
Wells Fargo is one of the largest U.S. banks. Its key strengths include its large branch and ATM networks and high-quality app and website experiences. However, rates on its savings account and CDs tend to be very low. Besides consumer deposit accounts, Wells Fargo provides a broad offering such as personal credit cards, mortgages, personal loans, business checking, business credit cards and business loans.
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