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. Rates offered by the bank are not the same for every customer, so shopping around for the best account can work to your advantage. Here’s a look at the 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.

How to Get the Best Wells Fargo Interest Rates

When it comes to 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.

Find Out: 7 Reasons Why You’re Getting That Interest Rate Today

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. Interest rates on both types of account are low. To get the best checking interest rate Wells Fargo offers — 0.05% APY — deposit $5,000 or more in the Portfolio Checking account. Otherwise, you’ll earn just a 0.01% APY, regardless of the account or the amount you deposit. With the exception of larger deposits in the Portfolio Checking account, rates at Wells Fargo are below the national average checking interest rate, which stood at 0.07% APY as of March 19, 2018.

Wells Fargo Checking  Account Rates
Account/ProductAPY (%)
Wells Fargo Portfolio Checking0.01 to 0.05
Wells Fargo Preferred Checking0.01
Rates accurate as of March 20, 2018

Learn: How to Set Up Wells Fargo Direct Deposit

Savings Interest Rates

Wells Fargo offers three types of savings accounts:

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

Unfortunately, depositing additional money doesn’t get you access to a higher savings rate at Wells Fargo, as all three accounts pay the same 0.01 percent rate. This is below the national average savings rate of 0.07 percent. 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; this entitles you to a bonus rate of 0.06 percent.

Wells Fargo Savings Account Rates
Account/ProductAPY (%)
Wells Fargo Way2Save Savings0.01
Wells Fargo Opportunity Savings0.01
Wells Fargo Platinum Savings0.01 to 0.06
Rates accurate as of March 20, 2018

Commit to saving your money for the longer term and you can earn better interest rates with Wells Fargo CD. Rates range from 0.05% APY for a three-month CD to 1.05% APY for a 58-month term.

Wells Fargo Standard CD Rates
CD TermAPY (%)
3-month CD0.05
6-month CD0.05
1-year CD0.10
9-month CD0.30
19-month CD0.55
39-month CD0.85
58-month CD1.05
Rates accurate as of March 20, 2018

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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 6.99% APR to 19.99% APR. These rates already factor in a 0.25 percent 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 9.25 percent to 20.75 percent, already including the 0.25 percent discount.

Wells Fargo Personal Loan Rates
Loan/Credit TypeAPR (%)
Personal loan6.99 – 19.99
Personal line of credit9.25 – 20.75
Rates accurate as of March 20, 2018 and include discount

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 banking relationship with the company.

Up Next: Your Guide to Wells Fargo SWIFT Codes 

About the Author

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.