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Wells Fargo CD Rates for 2024

Kevin Payne
Ashley Maready
By: Kevin Payne and Ashley Maready

Our Banking Experts

Eric McWhinnie
Check IconFact Checked Eric McWhinnie
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

For the most part, Wells Fargo CD rates aren't competitive -- plus they have high deposit requirements. However, 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.

Wells Fargo CD rates for 2024

Compare Wells Fargo CD rates

Unfortunately, Wells Fargo CD rates are low compared to those of both online banks and many traditional brick-and-mortar banks (with the exception of three- and seven-month terms). Customers with a linked Wells Fargo checking 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.

Rates as of May 14, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.70% Term: 1 Year Min. Deposit:  $2,500
APY: 5.05% Term: 1 Year Min. Deposit:  $1
APY: 5.15% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit:  $500

Details about Wells Fargo CDs

Wells Fargo Standard CD


  • Bonus rates for customers with a linked checking account


  • Below average interest rates
  • Only four term options available
  • High minimum deposit

Wells Fargo Standard CDs are only available in four term lengths: three months, six months, seven months, and one year. All Wells Fargo Standard CDs require a $2,500 minimum deposit. The Special 7-Month CD requires a $5,000 deposit, however. 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 checking 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 (more on this below).

Other Wells Fargo CD accounts

If you'd like to explore Wells Fargo CD interest rates further, you can also look at Wells Fargo's other CD account:

  • Step Rate CDs

How to open a Wells Fargo CD

Opening a Wells Fargo CD is easy, especially if you're a current account holder with the bank. If you're not, it's still not difficult. You'll need to provide some personal information, including your name, date of birth, and Social Security number. (If you're already an account holder, the form to open a CD will be partially filled with your information on file.) You'll pick your CD term, and can fund the account via an existing Wells Fargo account, a transfer from another bank, or mailing a check or money order.

You get a seven-day grace period after your CD term is up to decide what to do with the money. You can close the account, withdraw money over the minimum deposit requirement and start a new term, add more money, or switch to a different term altogether.

If you do nothing, your CD will renew at the current available rate and the term you started with, so it's best to stay on top of when your CD is due to mature so you don't get stuck with a lower rate than you want.

Who is a Wells Fargo CD right for?

Wells Fargo CDs are best for someone who already banks with Wells Fargo and wants to keep all of their accounts with one bank. If you're a current customer and can lock at least $5,000 up in a 7-month special CD, the APY might be worth it for you.

Bottom line: Wells Fargo CD rates

Wells Fargo Standard CD
  • 3 APY: Up to 4.51%
  • 6 APY: Up to 2.51%
  • 7 APY: up to 5.01%
  • 12 APY: Up to 1.51%
Rates as of May 14, 2024

APY = Annual Percentage Yield

Wells Fargo Standard CD
3 Mo.
6 Mo.
7 Mo.
1 Yr.
Up to 4.51%
Up to 2.51%
up to 5.01%
Up to 1.51%

Keep reading about Wells Fargo

Our CDs methodology

At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how The Motley Fool Ascent rates bank accounts.


  • 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. The exception is the 7-month CD option, assuming you can make the minimum deposit.

Our Banking Experts