Wells Fargo CD Rates

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

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Updated May 01, 2023
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Brendan Harkness is a senior finance editor at Investopedia and The Balance. He has spent 8-plus years researching, writing, and editing content for financial and business publications about credit, banking, and credit cards.

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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. 

Special Fixed Rate CD Overview

CD Term APY  Relationship APY  Renewal Term 
5 months 4.10%  4.36%  3 months

Standard Fixed Rate CD Overview

CD Term Deposit  APY  Relationship APY 
3 months $0–$4,999.99  0.50% 0.51%
3 months  $5,000–$9,999.99  0.50%  0.51% 
3 months  $10,000–$24,999.99  0.50%  0.51% 
3 months  $25,000–$49,999.99  0.50%  0.51% 
3 months  $50,000–$99,999.99  0.50%  0.51% 
3 months  $100,000+  1.01%  1.02% 
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+  1.50%  1.51%

Wells Fargo CD Rates: Key Features

Special Fixed Rate CD Key Features

APY Range 4.10%–4.36%
Minimum Deposit  $5,000 
Term Range  5 months 
Early Withdrawal Penalty  Term less than 90 days: 1 month 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  0.50%–2.51%
Minimum Deposit  $2,500 
Term Range  3–12 months 
Early Withdrawal Penalty  Term less than 90 days: 1 month 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."