Wells Fargo Interest Rates: How To Get the Bank’s Best Rates

Stay on top of your finances to get Wells Fargo's best rates.

Wells Fargo Bank offers a variety of customer products and services — from checking and savings accounts to personal loans and mortgages. Rates offered by the bank are not the same for every customer, so getting the best rates will require that you shop around.

Here’s a look at some of the interest-related accounts at Wells Fargo, along with current interest rates and suggestions on how you can get the best interest rates at this national bank.

Here’s what is covered in this guide to Wells Fargo interest rates:

How To Get the Best Wells Fargo Interest Rates

When it comes to getting the best Wells Fargo interest rates, you want higher rates on checking and savings accounts and lower rates on credit accounts, such as personal loans. Factors that can affect the rate you earn on checking and savings accounts at Wells Fargo include the type of account you open, the amount of money you deposit and your existing banking relationship. For loans, a high credit score is the best way to keep your rate low.

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Wells Fargo Everyday Checking account

Wells Fargo Checking Account Interest Rates

Wells Fargo offers two interest-bearing checking accounts: the Wells Fargo Portfolio Checking account and the Wells Fargo Preferred Checking account. Unless you get a special in-branch rate for meeting a minimum deposit, you’ll earn a rate of 0.01% APY, regardless of the account or the amount you deposit.

Except for larger deposits in the Portfolio Checking account, the Wells Fargo checking account interest rates are below the national average checking interest rate, which stood at 0.05% APY as of March 25, 2020.

Wells Fargo Checking  Account Rates
Account/Product APY
Wells Fargo Portfolio Checking 0.01%
Wells Fargo Preferred Checking 0.01%

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Wells Fargo Savings Account Interest Rates

Wells Fargo offers three types of savings accounts:

  • Way2Save Savings Account
  • Opportunity Savings Account
  • Platinum Savings Account

Unfortunately, depositing additional money does not get you the highest Wells Fargo savings account interest rates, as all three accounts pay the same 0.01% rate.

The only way to get a higher savings rate at Wells Fargo is to open the Platinum Savings Account and link it to a Portfolio by Wells Fargo relationship. Then, you’ll be entitled to a bonus rate of 0.10%, as of March 25, 2020.

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Wells Fargo Savings Account Rates
Account/Product APY
Wells Fargo Way2Save Savings 0.01%
Wells Fargo Opportunity Savings 0.01%
Wells Fargo Platinum Savings (not including bonus) 0.02%

See: Best Savings Accounts of 2021

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Wells Fargo Personal Loan Interest Rates

Because personal loans don’t require any collateral, rates tend to be higher than for other types of loans. At Wells Fargo, you can get a personal loan for between $3,000 and $100,000, and you’ll pay no origination fees or prepayment penalties.

Rates vary based on your credit history and the amount of credit you request. For a $10,000 loan with a three-year term, sample rates range from 5.49% APR to 20.49% APR, as of March 25, 2020. These rates already factor in a 0.25% discount, which applies if you have a Wells Fargo checking account and set up automatic loan payments from that account. For a personal line of credit, rates range from 8.25% to 21% when including the 0.25% relationship discount, as of March 25, 2020.

Wells Fargo Personal Loan Rates
Loan/Credit Type APR 
Personal loan From 5.24%
Personal line of credit From 8.25%
Rates accurate as of March 25, 2020, and include discount

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Good To Know: Questions To Ask Before Taking Out a Personal Loan

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Wells Fargo Mortgage Interest Rates

Wells Fargo offers two types of mortgages: fixed-rate and adjustable-rate. The company offers fixed-rate terms of 30, 20 or 15 years. For adjustable-rate mortgages, it offers a 7/1 ARM or a 5/1 ARM. With a Wells Fargo ARM, your mortgage interest rate remains fixed for seven years or five years, respectively.

After the period for the fixed rate ends, interest rates can adjust every year. The mortgage agreement will denote a range where the interest rate can lie once the adjustable period begins.

Closing costs can vary based on the loan type and loan amount. Wells Fargo also offers a 30-year Veterans Affairs loan that does not require any money down.

Wells Fargo also offers jumbo mortgages. Jumbo mortgages exceed the maximum rate for conforming loans.

Consumers who want the best Wells Fargo mortgage interest rates should choose the 15-year loan if possible. Consumers can also lower costs by putting at least 20% down. Borrowers who put 20% or more down benefit from both a smaller loan amount and the avoidance of the mortgage insurance requirement. In higher-cost areas, a larger down payment may mean you do not need a jumbo loan, which typically brings with it higher interest rates.

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The current rates based on loan type are listed here:

Wells Fargo Conforming and Government Mortgage Rates
Loan Type APR
30-Year Fixed-Rate 3.62%
30-Year Fixed-Rate VA 3.73%
20-Year Fixed-Rate 3.38%
15-Year Fixed-Rate 2.97%
7/1 ARM 3.63%
5/1 ARM 3.58%
Rates are accurate as of March 25, 2020.


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Wells Fargo Jumbo Mortgage Rates
Loan Type APR
30-Year Fixed-Rate 3.54%
15-Year Fixed-Rate 3.19%
7/1 ARM 3.05%
10/1 ARM 3.13%
Rates are accurate as of March 25, 2020.

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Wells Fargo Certificate of Deposit Interest Rates

A certificate of deposit is a special type of savings account. It typically offers higher interest rates in exchange for keeping your money locked up for a specified period. Though early withdrawals are still possible, depositors typically have to pay a penalty in such instances.

Wells Fargo offers CDs ranging from three months to 39 months. Its accounts provide a bonus APY that pays a slightly higher rate. However, you must participate in the Portfolio by Wells Fargo program to receive this bonus. Under this program, your CD must link to a separate Wells Fargo account. As of now, participation in this program adds 0.05 percentage points to the APY.

Commit to saving your money for the longer term, and you can earn better interest rates with Wells Fargo CD. Rates range from 0.02% APY for a three-month CD to 0.02% APY for a six-month term. These CDs require a minimum $2,500 deposit.

Customers could also opt to earn a higher interest rate by optioning for a Wells Fargo Special CD. These CDs come with a higher $5,000 minimum deposit requirement. Special CD rates can reach as high as 0.02% for a nine-month term. The following rates include a 0.05 percentage point relationship bonus.

Wells Fargo Standard CD Rates
CD Term APY 
3-month CD 0.02%
6-month CD 0.02%
1-year CD 0.02%
Rates accurate as of Feb. 5, 2020

Compare: Best CD Rates and Accounts of 2020

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Wells Fargo Special CD Rates
CD Term APY 
9-month CD 0.02%
29-month CD 0.25%
39-month CD 0.25%
Rates accurate as of Feb. 5, 2020 and include bonus

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Getting the Best Interest Rates Depends on a Number of Factors

Wells Fargo pays interest on a complete range of products, from checking and savings accounts to CDs. It also charges interest on personal loans, auto loans and home mortgages. The best way to get better rates across the board is to have a combination of good credit, higher amounts on deposit and a good banking relationship with the company.

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More on Wells Fargo:

More Interest Rates

Will Healy contributed to the reporting for this article.

Rates are accurate as of March 25, 2020. All fees and rates are subject to change at the bank’s discretion.

This content is not provided by Wells Fargo. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Wells Fargo.

About the Author

John Csiszar

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.

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