Wells Fargo CD Rates (Earn up to 5% APY)

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Today's Wells Fargo CD Rates

Wells Fargo has two CD options: standard CDs and special CDs. The primary difference between the two accounts is that special CDs have higher minimum opening deposits and more competitive interest rates than the bank's standard ones.

Wells Fargo has standard rates and relationship rates. You can qualify for a relationship rate when you link Wells Fargo Prime Checking - Product Name Only, Wells Fargo Premier Checking, or Wells Fargo Private Bank Interest Checking. 

Wells Fargo only offers fixed-rate CDs, which means your rate will remain the same throughout the entire term. You'll want to consider another financial institution if you'd like to open a variable-rate CD, like a step-up CD. Step-up CDs offer a guaranteed rate increase at a specific date.

If you need to withdraw your money before a Wells Fargo CD reaches the end of its term, you will have to pay an early withdrawal penalty. Wells Fargo has standard early withdrawal penalties compared to other financial institutions. 

Wells Fargo Standard Fixed Rate CD - Product Name Only

The Wells Fargo Standard Fixed Rate CD - Product Name Only has a steep minimum opening deposit compared to other brick-and-mortar banks. Usually, only $1,000 is required to open a CD.

If you have an opening balance of $100,000 or more, you'll be eligible for a higher interest rate on Wells Fargo Standard Fixed Rates CDs. However, if your priority is to earn a competitive interest rate on a CD, you'll likely prefer Wells Fargo Special Fixed Rate CDs or ones at another bank.

Wells Fargo Special Fixed Rate CD - Product Name Only

The Wells Fargo Special Fixed Rate CD - Product Name Only might be worthwhile if you have Wells Fargo Special Fixed Rate CD - Minimum Deposit or more to open an account because these CDs offer better interest rates regardless of your account balance.

Wells Fargo only has two special CD terms to choose from, though. You'll want to select a different bank if you'd like more variety.

Should you open a Wells Fargo CD?

Wells Fargo might be worth considering if you are searching for a CD term of one year or less. In particular, a Wells Fargo Special Fixed Rate CD - Product Name Only could be worthwhile if you are looking for high CD rates.

Wells Fargo probably won't be the best option if you're searching for CDs with low opening requirements. Other financial institutions let you open CDs with $1,000 or less. Wells Fargo requires $2,500 to $5,000, depending on which type of CD you open.

You also might prefer a different bank if you prefer more CD variety. Generally, most financial institutions at least offer CDs ranging from three months to five years.

There are also financial institutions that offer other types of CDs. For example, some banks have no-penalty CDs, which do not charge early withdrawal penalties if you need to take out money before a term ends. 

Wells Fargo CD Rate Comparison

Compare Wells Fargo CD rates to popular CD options.

Wells Fargo CDs vs. U.S. Bank CDs

U.S. Bank - Product Name Only offers four types of CDs: special CDs, standard CDs, step-up CDs, and trade-up CDs. A trade-up CD allows you to request a rate increase at a U.S. Bank branch once during a term if interest rates go up.

In general, U.S. Bank CD rates aren't as high as Wells Fargo's rates. But when comparing the two banks, U.S. Bank Special CDs have the most competitive interest rates.

You also might lean more toward U.S. Bank if you'd like to open a CD with a low minimum opening deposit. U.S. Bank lets you open an account with U.S. Bank Standard CD - Minimum Deposit. At Wells Fargo, you need at least Wells Fargo Standard Fixed Rate CD - Minimum Deposit.

Wells Fargo CDs vs. Capital One CDs

Capital One 360 CD - Product Name Only might be a better option if your priority is opening a CD with a low initial deposit. Capital One 360 lets you open a CD with Capital One 360 CD - Minimum Deposit. At Wells Fargo, you need at least Wells Fargo Standard Fixed Rate CD - Minimum Deposit.

Wells Fargo CDs: Frequently Asked Questions

What is the minimum opening deposit for a Wells Fargo CDs?

Wells Fargo Standard Fixed Rate CDs require at least Wells Fargo Standard Fixed Rate CD - Minimum Deposit, and Special Fixed Rate CDs need a minimum of Wells Fargo Special Fixed Rate CD - Minimum Deposit.

What are the early withdrawal penalties for Wells Fargo CDs?

There are early withdrawal penalties for Wells Fargo CDs. For CD terms between three months and one year, the penalty is three months of interest.

Are Wells Fargo CDs FDIC insured? 

Yes. Wells Fargo CDs are FDIC insured for up to $250,000 per depositor.