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Wells Fargo CD Rates: How They Compare

Aug. 15, 2019
Banking, CDs
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3.5 NerdWallet rating

Wells Fargo offers some solid CD rates, but the minimum is somewhat high and there aren’t many terms to choose from. Having the bank’s premium checking provides a slight boost to rates.

» Skip ahead to see how Wells Fargo compares with two online banks.

Wells Fargo CD rates

  • Standard vs special CDs. Wells Fargo has two 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.
  • 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 termNon-bonus rate*Bonus rate*Minimum deposit
9-month
(Special CD rate)
1.90%1.95%$5,000
1-year
(Standard CD rate)
0.25%0.30%$2,500
29-month
(Special CD rate)
1.40%1.45%$5,000
39-month
(Special CD rate)
1.40%1.45%$5,000
*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, aren’t as high as many online bank CD rates. Here’s how they compare:

Wells Fargo
3.5 NerdWallet rating


4.0 NerdWallet rating



4.0 NerdWallet rating




1-year APY


0.25%



39-month APY


1.40%


5-year APY



N/A



Minimum deposit



$2,500 or $5,000, depending on CD type



1-year APY


2.40%



3-year APY


2.45%


5-year APY



2.45%



Minimum deposit



No minimum



1-year APY


2.25%



3-year APY


2.35%


5-year APY



2.45%



Minimum deposit



$500

Compare more banks and CD rates here


» 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 feeNone, which is common for CDs.
    Range of CD terms3 months to 12 years, but only a handful are listed online.
    Compounding periodDaily. (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 period7 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?Yes.

    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 if rates keep rising. It’s hard to know when CD rates go up, since it depends on Federal Reserve rate hikes and other factors. Wells Fargo has one 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.
    • 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, some high rates

    Wells Fargo CD rates can be solid, but they have some limits: The terms featured online aren’t the standard lengths that many banks use, and special CD rates generally revert to lower rates if they renew. You can find more conventional terms and higher rates elsewhere.

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