Wells Fargo Savings Account Interest Rates for 2025

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Anytime you can start saving money is a good time. Rather than storing your funds in a shoe box, consider putting them in a savings account at a trusted bank. By doing this, your money can grow with compounding interest. Here’s how much your money could earn with Wells Fargo savings accounts.

Current Wells Fargo Savings Account Interest Rates

Wells Fargo offers two kinds of savings accounts: Way2Save Savings and Platinum Savings. Here’s a look at their savings rates.

Good To Know

While Wells Fargo offers relationship rate perks and easy access to your funds, its standard savings rates remain lower than the national average. As of July 14, 2025:

• National average savings rate: 0.38%
• Wells Fargo Way2Save APY:

Overview of Wells Fargo Savings Account Options

Wells Fargo has two different savings account options to choose from.

Wells Fargo Way2Save Savings

This is a standard savings account that is easily accessible to all kinds of users. To open a Wells Fargo Way2Save Savings account, you need a minimum deposit of $25. This account has an APY of .

Way2Save features automatic Save As You Go transfers from your linked Wells Fargo checking account. Every time you use your debit card for a one-time purchase or complete a bill pay transaction via online banking, Save As You Go transfers $1 from your checking account into Way2Save.

You can also set up auto transfers from your linked checking account — schedule as little as $1 per day or $25 per month.

There is a $5 monthly service fee for this account, but you can avoid it by meeting any of these requirements:

• Keep a minimum daily balance of $300.
• Make one automatic transfer of at least $25 from a linked Wells Fargo checking account.
• Make one automatic transfer each business day of $1 or more from a linked Wells Fargo checking account.
• Make at least one Save As You Go transfer from a linked Wells Fargo checking account.
• The account owner is 24 years old or younger.

Wells Fargo Platinum Savings

Platinum Savings offers higher interest rates, so it’s considered to be Wells Fargo’s high-yield savings account. Its standard interest rate is , while its relationship rates range from to APY. You only need $25 to open an account.

You can set up automatic transfers into the Platinum Savings account from an eligible checking account. Although Wells Fargo doesn’t call this account a money market account, you do have the option to write checks.

Here are some other key takeaways:

• Monthly fees: There is a $12 monthly fee, which can only be avoided if you have a minimum daily balance of $3,500 each fee period. 
• Relationship APYs: You can earn higher APYs if you have a linked Prime Checking, Premier Checking or Private Bank Interest Checking account.

Pros and Cons of Wells Fargo Savings Accounts

Not sure if Wells Fargo is the right place for your savings? The pros and cons can help you decide.

Pros

• Wide branch and ATM network
• Easy-to-use mobile banking tools
• Automatic savings features
• FDIC insurance

Cons

• Standard interest rates are on the lower side
• Monthly fees unless you meet balance or activity requirements
• Highest APYs require large balances
• Relationship rates require linking accounts

Steps To Open a Wells Fargo Savings Account

Take these steps to open a Wells Fargo savings account:

1. Choose your preferred method: Open an account online through the Wells Fargo website, via the mobile app or by visiting a local branch.
2. Gather required documentation: Prepare your Social Security number, government-issued ID and basic personal information like your address and date of birth.
3. Meet initial deposit requirements: Ensure you have funds available to meet the minimum opening deposit, which varies depending on the account type.
4. Set up your account: Follow the prompts to complete the application and confirm your account details.
5. Set up recurring transfers: Schedule automatic transfers from a checking account to your savings to build your balance consistently and effortlessly.

Wells Fargo Savings Rates vs. Other Banks

Wells Fargo provides a large variety of financial products to its customers. Most of the time, savings interest rates offered by such big banks are very low. If you wish to earn more interest on your savings accounts, there are a few other options that you can consider.

How To Maximize Your Wells Fargo Savings Account Interest Rate

Relationship banking customers get preferred rates at Wells Fargo. To qualify, you can open a Prime Checking or Premier Checking account, both of which earn interest. In return, you’ll unlock higher rates on your savings balances.

Keep in mind that relationship rates are typically tied to your overall account balance, so the more you deposit, the more you may receive.

Should You Open a Wells Fargo Savings Account?

Wells Fargo savings account interest rates aren’t the most competitive, but the bank stands out for its wide range of financial products and services. If you’re looking for a one-stop shop for your banking, loans and investment needs, it may be a solid fit.

That said, if your priority is earning the highest interest on your savings, you might want to explore high-yield savings accounts from online banks or credit unions, which typically offer better rates with fewer fees.

Daria Uhlig and Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. Rates may vary by region. All other information on accounts is accurate as of July 14, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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