Wells Fargo CD Rates Review: Competitive Rates for Special CDs

Learn about all of the Wells Fargo CD rates available.

A certificate of deposit is a secure investment that enables you to earn a set amount of interest on your deposit. You choose the term of your CD — which can range from a couple of months to a couple of years — over which you’ll earn interest through its maturity. Although you can withdraw from your CD before it matures, you could be charged an early withdrawal fee depending on the CD account you choose.

If you’re considering opening a CD account with Wells Fargo, you’ll be able to choose between three accounts: Special CD, Standard CD and Step Rate CD. You can also choose from a variety of term lengths. Keep reading this rates review to find out which CD is best for you.

Wells Fargo Special CD Accounts

Take a look at the Special CD rates and details below.

Wells Fargo Special CD Rates
TermInterest RateAPYBonus Interest RateBonus APYRenewal Term
9 months1.14%1.15%1.19%1.20%6 months
19 months2.47%2.50%2.52%2.55%12 months
39 months2.52%2.55%2.57%2.60%36 months
58 months2.57%2.60%2.62%2.65%48 months

To open a Special CD account with Wells Fargo, you’ll need to deposit a minimum of $5,000. With this fixed-rate CD, you can receive an APY of up to 2.65 percent if you choose the 58-month term and qualify for the Bonus APY. To qualify for the Bonus APY, you must link your CD account to a Portfolio by Wells Fargo account. If you close the Portfolio account before your CD matures, the rate will drop to the standard APY. Note that if you renew your CD, the Bonus APY won’t apply.

Wells Fargo Standard CD Accounts

Take a look at the Standard CD rates and details below.

Wells Fargo Standard CD Rates
TermInterest RateAPYBonus Interest RateBonus APY
3 months0.05%0.05%0.10%0.10%
6 months0.05%0.05%0.10%0.10%
1 year1.29%1.30%1.34%1.35%

Wells Fargo’s Standard CD accounts have a lower minimum deposit: $2,500. You can earn up to a 1.35% APY if you agree to a one-year term and qualify for the Bonus APY. As with the Special CD account, your CD must be linked with a Portfolio by Wells Fargo account to qualify for this Bonus APY. However, this really only affects you if you choose the one-year term, as the standard APY and interest rates are the same as the Bonus APY and interest rates for the three-month and six-month CDs.

Know: This Is How Much You Need to Open CDs at Chase and 18 Other Banks

Wells Fargo Step Rate CD Accounts

Take a look at the Step Rate CD rates and details below.

Wells Fargo Step Rate CD Rates
TermInterest RateAPY Bonus Interest RateBonus APY
24 months1.14%1.53%1.19%1.58%

The Wells Fargo Step Rate CD allows you to make one penalty-free withdrawal every six months, as long as you maintain the minimum opening balance of $2,500. The interest rate is guaranteed to increase every six months at the seven-, 13- and 19-month marks. Bonus rates are available if the CD remains linked to a Portfolio by Wells Fargo account.

If you were to open a Step Rate CD account today, here are the 2018 Wells Fargo rates you’ll earn as the CD matures:

Wells Fargo Step Rate CD Rates Over Time
Time PeriodInterest Rate per PeriodBonus Interest Rate per Period
1 to 6 months1.14%1.19%
7 to 12 months1.39%1.44%
13 to 18 months1.64%1.69%
19 to 24 months1.89%1.94%

How to Choose the Best Wells Fargo CD Account for You

When choosing between Wells Fargo’s CD account offerings, you should keep in mind how much you have to deposit and how soon you will need access to your funds. If you can afford to put $5,000 in a CD account and keep it there for 58 months, you should go with the 58-month Special CD account to get the best interest rates offered by the bank. If you only have $2,500, consider the Step Rate CD. Even if you need to take out some funds before it fully matures, you can do so three times without penalty, as long as you maintain the minimum balance. And you’ll end with higher interest rates than those offered with the Standard CD accounts.

Click through to see how to avoid Wells Fargo checking account fees.

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GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of GOBankingRates alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account. 

About the Author

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert.