Wells Fargo CD Rates

The bank offers high APYs on some short-term CDs, but they come with a steep deposit requirement

Client shaking hands with financial advisor about CD rates

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Wells Fargo CD Rates

Wells Fargo offers a limited number of CD terms with high minimum deposit requirements. While the special fixed rate CD may be relatively competitive—and you can get a slightly higher relationship APY if you have an eligible checking account—most of the bank's offerings are low compared to what you can find with other financial institutions.?

Wells Fargo's CD rates may vary by location, and the rates listed below may not be available in all zip codes. The APYs listed below use NYC zip code 10001 and are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Special Fixed Rate CD Overview

CD Term APY? Relationship APY? Renewal Term?
7 months 4.75% 5.01% 6 months
11 months 5.00% 5.26% 6 months

Standard Fixed Rate CD Overview

CD Term Deposit? APY? Relationship APY?
3 months $0–$4,999.99? 2.50% 2.51%
3 months? $5,000–$9,999.99? 2.50%? 2.51%?
3 months? $10,000–$24,999.99? 2.50%? 2.51%?
3 months? $25,000–$49,999.99? 2.50%? 2.51%?
3 months? $50,000–$99,999.99? 2.50%? 2.51%?
3 months? $100,000+? 2.50%? 2.51%?
6 months $0–$4,999.99 2.50% 2.51%?
6 months? $5,000–$9,999.99? 2.50%? 2.51%?
6 months? $10,000–$24,999.99? 2.50%? 2.51%?
6 months? $25,000–$49,999.99? 2.50%? 2.51%?
6 months? $50,000–$99,999.99? 2.50%? 2.51%?
6 months? $100,000+? 2.50%? 2.51%?
12 months $0–$4,999.99? 1.50%? 1.51%?
12 months? $5,000–$9,999.99? 1.50%? 1.51%?
12 months? $10,000–$24,999.99? 1.50%? 1.51%?
12 months? $25,000–$49,999.99? 1.50%? 1.51%?
12 months? $50,000–$99,999.99? 1.50%? 1.51%?
12 months? $100,000+? 2.00%? 2.01%

Wells Fargo CD Rates: Key Features

Special Fixed Rate CD Key Features

APY Range 4.75%–5.26%
Minimum Deposit? $5,000?
Term Range? 7-11 months?
Early Withdrawal Penalty? Term less than 90 days: 1 months’ interest 90 to 365 days: 3 months’ interest Over 12 months to 24 months: 6 months’ interest Over 24 months: 12 months’ interest?
Grace Period for Penalty-Free Withdrawals? 7 calendar days

Standard Fixed Rate CD Key Features

APY Range? 1.50%–2.51%
Minimum Deposit? $2,500?
Term Range? 3–12 months?
Early Withdrawal Penalty? Term less than 90 days: 1 months’ interest 90 to 365 days: 3 months’ interest Over 12 months to 24 months: 6 months’ interest Over 24 months: 12 months’ interest?
Grace Period for Penalty-Free Withdrawals? 7 calendar days

Compare Savings Account Rates

Credit unions and online banks typically offer higher CD rates than traditional banks.

Are Wells Fargo CDs FDIC-Insured?

Yes, Wells Fargo is a member-FDIC bank, so your funds are insured up to the maximum limit of $250,000 per depositor for each ownership category.

Is Wells Fargo Good for CDs?

Wells Fargo Bank CD rates, on average, are low compared to the top CD rates that are currently available. The bank also has high deposit requirements compared to certain alternatives—some banks require $500 or less to get started. Finally, you can only qualify for the best Wells Fargo CD rates if you have an existing relationship with the bank through one of its high-end checking accounts.

How Do You Get the Best Wells Fargo CD Rate?

To enjoy the best rate Wells Fargo has to offer, you'll need at least $5,000 to open a special fixed-rate CD with the bank. Additionally, you'll need to have a qualifying Wells Fargo checking account. Eligible accounts include Wells Fargo Prime Checking, Premier Checking, and Private Bank Interest Checking accounts.

If you close your checking account, you'll retain the relationship APY until your CD matures, at which time it'll revert to the standard APY.

What Is the Minimum Opening Deposit for Wells Fargo CDs?

For the bank's standard CDs, the minimum deposit requirement is $2,500. However, if you want to take advantage of the Wells Fargo’s special CD rates, you'll need to deposit at least $5,000.

Article Sources
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  1. Wells Fargo. "Wells Fargo CDs (Certificates of Deposit)."

  2. Federal Deposit Insurance Corporation. "Deposit Insurance FAQs."

  3. Marcus by Goldman Sachs. "Marcus CD Rates."