Wells Fargo CD rates aren't competitive and have high deposit requirements. Wells Fargo CDs may appeal to current Wells Fargo customers who want to keep all their accounts with one bank. Here's what you need to know about Wells Fargo CD rates and how they stack up against other banks.
Unfortunately, Wells Fargo CD rates are low compared to those of both online banks and many traditional brick-and-mortar banks. Customers with a linked Wells Fargo investment account can earn a higher "bonus" rate, but it's still not comparable. You won't find Wells Fargo CD interest rates on a list of the best CD rates.
Wells Fargo Standard CDs are only available in three term lengths: three months, six months, and one year. All Standard CDs require a $2,500 minimum deposit. Make sure you have enough to meet the minimum deposit requirement before planning to take advantage of Wells Fargo CD interest rates. If you have a Wells Fargo Bank investment account linked to your CD, you'll benefit from higher Wells Fargo CD interest rates. Interest compounds daily but has several different payout options based on your CD term length. Customers who touch their CD funds before the maturity date are subject to early withdrawal penalties of up to three months' interest. Wells Fargo CDs renew automatically at maturity, but customers can change terms, add or withdraw funds, or close the CD during the seven-day grace period.
If you'd like to explore Wells Fargo CD interest rates further, you can also look at Wells Fargo's other CD account:
Wells Fargo CDs are best for someone who already banks with Wells Fargo and wants to keep all of their accounts with one bank.
Like at any bank, Wells Fargo CDs represent guaranteed savings with fixed rates and protection via FDIC insurance.
Opening a Wells Fargo CD only makes sense if you are already a Wells Fargo customer and would rather keep all your accounts in one spot rather than earn a higher rate elsewhere.
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