Wells Fargo Bank CD Rates
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links.
Wells Fargo is one of the largest banks in the U.S. Should you get a Wells Fargo CD? Might be worth considering. Learn more.
 |
Wells Fargo is another one of the biggest banks in the U.S. with well over 4,000 branches nationwide. It's a decent option if you like to do all your banking under one roof.
The good news is they do have some promising CD rates if you're shopping for one today. But you might want to consider their minimum deposit before you open a CD at Wells Fargo.
Learn more about the Wells Fargo CDs, their requirements, rates, and their pros and cons.
What Wells Fargo CDs are Available?
Wells Fargo offers a regular CD, but they also have special CDs with relatively higher rates. Here are the types of CDs at Wells Fargo:
- Special Fixed Rate CD: A promotional CD or available for a limited time
- Standard Fixed Rate CD: A regular CD offered by Wells Fargo
Below is a table showing a short overview of the Wells Fargo CDs and its features:[1]
| CDs Available | Standard Fixed, Special Fixed |
|---|---|
| Minimum Deposit | $2,500 for Standard Fixed CDs $5,000 for Special Fixed CDs |
| Terms | 3, 6, 7, 11, and 12 months |
| Interest Payments | Monthly, Quarterly, Semi-Annually, Annually, or at Maturity |
| Early Withdrawal Penalty* |
|
| Grace Period | 7 days after maturity |
| FDIC-Insured | Yes |
Read on to know how the rates of each CD and how they differ.
Wells Fargo Special Fixed Rate CDs
Wells Fargo offers their CD rates on their Special Fixed Rate CDs which are available for a limited time only. But, the catch is it requires a minimum deposit of $5,000. This is quite steep compared to other CDs in the market which usually averages around $500 to $1,000.
Additionally, the only term options are odd terms of 7 months and 11 months. When you leave them to auto-renew at maturity, they will change into a 6-month CD with the applicable standard rate.
Special Fixed Rate CDs are also eligible for relationship rates when you have a linked Prime Checking, Premier Checking, or Private Bank Interest Checking account. These relationship rates are usually higher than the special rate offered.
Wells Fargo Standard Fixed Rate CDs
Wells Fargo's Standard Fixed Rate CDs are their regular CD offerings. It has a lower minimum deposit of $2,500 which is still quite high compared to other banks.
The best rate right now is on their 3-month CD. But, their longer-term CDs might not offer great interest rates.
You can open 3, 6, or 12-month CDs online, but if you want a CD with longer terms (up to 12 years[2]), you'll need to go to a branch.
Additionally, these CDs also have balance tiers. Rates may vary depending on the tier (higher balances may get higher APYs):
- $0 to $4,999.99
- $5,000 to $9,999.99
- $10,000 to $24,999.99
- $25,000 to $49,999.99
- $50,000 to $99,999.99
- $100,000 or more
You may be eligible for relationship rates as well, as long as you have a linked Prime Checking or Premier Checking account. However, the difference between the standard and the relationship rate may not be that high.
Wells Fargo Retirement CDs
If you already have a Destination® IRA account at Wells Fargo, you can get Special and Standard Fixed Rate CDs as IRA CDs. Unfortunately, new applications are currently not accepted[3].
The offered IRA rates are usually the same for Standard CDs, but Special CDs might be different.
Note that the minimum deposit is lower for Retirement CDs where Specials CDs are at $2,500 and Standard CDs are at $1,000.[4]
- Citibank:
IRA Certificates of Deposit - Up to 4.00% APY - Ally Bank:
IRA High Yield CD - Up to 3.75% APY - Synchrony Bank:
IRA CD - Up to 3.80% APY - Suncoast Credit Union:
IRA CDs - Up to 4.25% APY - America First Credit Union:
IRA Certificate Account - Up to 4.20% APY - GTE Financial:
IRA Share Certificate - Up to 4.02% APY - Grow Financial Federal Credit Union:
IRA Certificates - Up to 3.87% APY - Space Coast Credit Union:
IRA CD - Up to 3.85% APY - Achieva Credit Union:
IRA Certificate of Deposit - Up to 3.55% APY - NBKC Bank:
IRA Certificate of Deposit - Up to 3.25% APY
An IRA CD is a tax-advantaged way to save for retirement by combining the features of an IRA and a CD. The benefits may vary depending on your chosen IRA type.
How Wells Fargo CD Rates Compare
High-Yield CD Rates - Up to 3.60% APY
- No fees
- $1 minimum deposit
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Month | 3.60% APY |
| 4 Month | 3.50% APY |
| 5 Month | 3.40% APY |
| 6 Month | 3.50% APY |
| 9 Month | 3.40% APY |
| 12 Month | 3.30% APY |
CIT Bank No Penalty CD - 3.75% APY
- Option to withdraw full balance and interest after 7 days of CD funding date
- $1,000 minimum to open an account
- 11 months
- No monthly maintenance fee
- Member FDIC
CD Rates - Up to 3.75% APY
- $500 minimum opening deposit
- FDIC insured
| Term | CD Rates |
|---|---|
| 6 Month | 3.75% APY |
| 12 Month | 3.00% APY |
| 24 Month | 3.35% APY |
| 36 Month | 3.25% APY |
| 60 Month | 3.00% APY |
High-Yield CD - Up to $1,500 Bonus
- Select a savings offer and sign up: Choose and fund at least one high-yield savings account or CD on the Raisin platform to get started. Be sure to enter bonus code HEADSTART during sign-up to be eligible for a cash bonus.
- Deposit funds: The more you save, the more you can earn. Make a qualifying deposit(s) within 14 days of opening your account to set your bonus tier.
- Maintain your deposit(s): Maintain your deposit(s) for 90 days from your first deposit date to earn your bonus.
| Deposit | Cash Bonus |
|---|---|
| $10,000 - $24,999 | $70 |
| $25,000 - $49,999 | $175 |
| $50,000 - $99,999 | $350 |
| $100,000 - $199,999 | $750 |
| $200,000 or more | $1,500 |
Mission Valley Bank CD Rates - Up to 3.80% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
| CD | APY |
|---|---|
| 3-Month No-Penalty CD | 3.80% APY |
Fees & Penalties
If you withdraw your Wells Fargo CD early, you will have to pay penalties. Remember that to get maximum returns on your CD, you should not withdraw before it matures.
Here are Wells Fargo's applicable early withdrawal penalties on the amount withdrawn by CD term[5].
- Terms less than 90 days (or less than 3 months): 1 month's interest
- Terms 90 to 365 days (or 3-12 months): 3 months' interest
- Terms over 12 months to 24 months: 6 months' interest
- Terms over 24 months: 12 months' interest
If you withdraw your CD within 7 days of opening the CD, you will be charged at least 7 days interest.
Typically, partial withdrawals are not allowed before maturity. Otherwise, you need to pay early withdrawal penalties. However, your interest earnings on your Wells Fargo CD can be withdrawn during the term if preferred.
Wells Fargo CDs Pros & Cons
 |
| © CreditDonkey |
If you're still not sure whether to get a CD at Wells Fargo, here are their pros and cons.
Pros
- No monthly service fees
- No account opening fees
- Daily compounding interest
- Wide range of CD terms available at branch
- FDIC insurance for up to $250,000
Cons
- Long-term CDs have low APY
- Limited online CD term options
- Relatively high minimum deposit requirement
- Must have linked Prime Checking, Premier Checking, or Private Bank Interest Checking account to get higher APY
- IRA CDs currently not offered to new applicants
- Early withdrawal penalties
Can You Lose Money with a Wells Fargo CD?
Essentially, you can't lose money with a Wells Fargo CD. Your funds are safe because it is protected by FDIC insurance up to $250,000.
However, withdrawing your money before the CD matures can result in early withdrawal fees, potentially reducing your earnings. In some cases, these penalties might even dip into your initial investment amount.
How to Open a CD with Wells Fargo
You can open a CD at Wells Fargo online. Here's how:
- Open the Wells Fargo CDs page, click Open Now, and select your preferred CD and term.
- Fill in the application form with the necessary information.
- Submit and fund your account.
If the CD term you want to open is not available online, visit a Wells Fargo branch near you to open an account in person instead.
To fund your Wells Fargo CD, here are three ways:
- Transfer funds from an existing Wells Fargo account.
- Transfer funds from an external bank account. Be sure to get your account number and routing number to do this.
- Mail a check or a money order to: Wells Fargo Bank, P. O. Box 6995, Portland, OR 97228-6995[6]
How to Withdraw Upon Maturity
Wells Fargo will send you a notice around a month before your CD matures. Once you do receive it, make sure you think about what you want to do with your CD.
Here are your options:
- Close the CD and withdraw all funds
- Add deposit to the CD or withdraw a part of the CD
- Change the CD term
- Automatic renewal
You have a grace period of 7 calendar days after the maturity date of your Wells Fargo CD to finalize your decisions. Make sure you contact Wells Fargo before the grace period ends. Otherwise, the CD will automatically renew and it will be subject to early withdrawal penalties.
You can reach out to their customer service via phone, make an appointment, or go to a Wells Fargo branch.
Frequently Asked Questions
- What are Wells Fargo CD rates right now?
Wells Fargo CD rates are quite decent on their CD specials and short-term CDs. Their long-term CDs may not be as competitive as other offers by online banks and credit unions. - What is Wells Fargo CD term?
Wells Fargo lets you open a CD online with terms of 3, 6, and 12 months. They also have special CD terms available for a limited time. But, they do have a broad range of CD terms from 1 month to 12 years if you go to a branch to open a CD in person. - When can I withdraw from Wells Fargo CD?
Ideally, you'd want to withdraw your CD only when it has matured. Otherwise, you will need to pay early withdrawal penalties. After the maturity date, you have 7-calendar days to withdraw your money from the CD. - Is Wells Fargo CD good?
Wells Fargo CDs may have decent rates on short-term CDs and CD specials. But if you have a longer time horizon, the long-term CD rates might not be as good.
Bottom Line
Wells Fargo CDs are an okay option for those looking to park their money for a year or less to take advantage of the higher APY. You can also score some higher APY if you have checking accounts eligible for relationship rates.
Ultimately, Wells Fargo is a popular choice to do your banking all under one roof. But if you want better CD rates, some online banks and credit unions may have higher offers.
References
- ^ Wells Fargo. Certificates of Deposit, Retrieved 12/13/23
- ^ Wells Fargo. Consumer Account Fee and Information Schedule (PDF), Retrieved 10/08/2023
- ^ Wells Fargo. Wells Fargo Bank Destination® IRA, Retrieved 10/08/2023
- ^ Wells Fargo. Wells Fargo Bank Destination® IRA Rates: FDIC-Insured CDs and Savings Accounts, Retrieved 11/16/2023
- ^ Wells Fargo. What is the penalty for early withdrawal?, Retrieved 10/08/2023
- ^ Wells Fargo. Mailing Addresses, Retrieved 12/13/23
- ^ Wells Fargo. Customer Service Contact Us Numbers Retrieved: 10/08/2023
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
Member FDIC
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 1/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Chase Total Checking® - $400 Bonus
- New Chase checking customers can receive $400 when you open a Chase Total Checking® account and make direct deposits totaling $1,000 or more within 90 days of coupon enrollment.
- Unlock more offers with Chase. Get up to $500 per calendar year by referring friends and family. Plus, get cash back from top brands with Chase Offers when you use your debit card.
- Chase Total Checking® has a $15 monthly service fee, you can easily avoid the fee with direct deposits totaling $500 or more, or a minimum average daily balance each statement period.
- Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
- Chase Mobile® app makes banking simple. Manage accounts, pay bills, send money to friends with Zelle® and deposit checks on the go with Chase Quick Deposit℠.
- Chase has the largest branch network in the U.S. with thousands of ATMs and branches. Use the Chase locator tool to find a branch or ATM near you.
- Chase helps keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q1AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 1/15/2026 and 3/31/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 new money deposits, daily balance, and 6 qualifying transactions.
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank Mobile Check Deposit, electronic or paper checks, Bill Pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
CIT Bank Platinum Savings - $300 Bonus
- Qualify for a $300 cash bonus with a minimum deposit of $50,000
- This limited time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025 and can end at any time without notice.
Rue Atanacio is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Rue Atanacio at rue.atanacio@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
Compare:
