A Wells Fargo Certificate of Deposit (CD) offers an alternative way to grow your savings. You choose the set period of time to earn a guaranteed fixed interest rate, regardless of market conditions. A CD can provide peace of mind whether you're saving for a short-term goal, next year's project, college tuition, or fun-filled vacation.
Benefits of a Wells Fargo CD account
Interest rates
CDs typically pay higher interest rates than other deposit products.
Guaranteed return
Interest rate is set at opening and doesn’t change until the CD matures, so you know exactly how much you'll earn.
Security
Your funds are FDIC-insured up to the maximum applicable limits.
Flexible terms
You choose what term works best for you.
Today's CD rates
Note
Early withdrawal penalties may apply.
Special Fixed Rate CDs
7 month Special Fixed Rate CD footnote
Special Interest Rate
4.64%
Relationship APY footnote
5.01%
Term
7 months
Renewal Term
6 months
$5,000 minimum opening deposit
Open now
Standard Fixed Rate CDs footnote
3 month
Standard Fixed Rate
3 month term
Standard Interest Rate
Relationship APY footnote
$0 - $4,999.99
4.40%
4.50%
4.41%
4.51%
$5,000 - $9,999.99
4.40%
4.50%
4.41%
4.51%
$10,000 - $24,999.99
4.40%
4.50%
4.41%
4.51%
$25,000 - $49,999.99
4.40%
4.50%
4.41%
4.51%
$50,000 - $99,999.99
4.40%
4.50%
4.41%
4.51%
$100,000 +
4.40%
4.50%
4.41%
4.51%
$2,500 minimum opening deposit
Open now
Additional terms are available at the branch
Make an appointment
6 month
Standard Fixed Rate
6 month term
Standard Interest Rate
Relationship APY footnote
$0 - $4,999.99
2.47%
2.50%
2.48%
2.51%
$5,000 - $9,999.99
2.47%
2.50%
2.48%
2.51%
$10,000 - $24,999.99
2.47%
2.50%
2.48%
2.51%
$25,000 - $49,999.99
2.47%
2.50%
2.48%
2.51%
$50,000 - $99,999.99
2.47%
2.50%
2.48%
2.51%
$100,000 +
2.47%
2.50%
2.48%
2.51%
$2,500 minimum opening deposit
Open now
Additional terms are available at the branch
Make an appointment
1 year
Standard Fixed Rate
1 year term
Standard Interest Rate
Relationship APY footnote
$0 - $4,999.99
1.49%
1.50%
1.50%
1.51%
$5,000 - $9,999.99
1.49%
1.50%
1.50%
1.51%
$10,000 - $24,999.99
1.49%
1.50%
1.50%
1.51%
$25,000 - $49,999.99
1.49%
1.50%
1.50%
1.51%
$50,000 - $99,999.99
1.49%
1.50%
1.50%
1.51%
$100,000 +
1.98%
2.00%
1.99%
2.01%
$2,500 minimum opening deposit
Open now
Additional terms are available at the branch
Make an appointment
The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate compounded daily for a 365-day period.
If you receive a periodic statement, that statement will include the Annual Percentage Yield earned (APYE) on your account for the period covered by the statement.
The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period (366 in a leap year).
If you receive a periodic statement, that statement will include the Annual Percentage Yield earned (APYE) on your account for the period covered by the statement.
The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate compounded daily for a 365-day period.
If you receive a periodic statement, that statement will include the Annual Percentage Yield earned (APYE) on your account for the period covered by the statement.
Certificate of Deposit FAQs
What is a CD account?
A Certificate of Deposit (also known as a CD, COD, or Time Account) is a financial product that usually pays a fixed interest rate for a set period of time, ranging from a few months to several years. This period of time is known as a "term." By keeping your money in the CD for the full term, you are guaranteed your initial deposit. If you withdraw funds from your CD account before the term is complete, a penalty may be charged on the amount withdrawn which will be deducted from any interest earned, and then principal if necessary.
How do I earn interest on a CD?
You earn interest from the date of your opening deposit up to your maturity date. Your interest compounds daily and is generally paid monthly, although interest payments made quarterly, semi-annually, annually, or at maturity are also available. Interest can be re-deposited to the CD, transferred to a Wells Fargo checking or savings account, or paid by check if the Time Account has a minimum balance of $5,000.
How do I fund a CD?
There are three ways to fund your account
- Transfer from an existing Wells Fargo account.
- Transfer from a non-Wells Fargo account. You'll need your account number and the nine-digit routing number found on your check or deposit slip.
- Use a check or money order by mail. If you submit your application online, your check or money order must be mailed in after you submit your application; branches are not able to accept your opening deposit for an online application.
What terms are available for my CD?
You can select from standard fixed rate terms of 3, 6, or 12 months, or select from available Special Fixed Rate CD term(s) online. To select other standard fixed rate terms, up to 120 months, please visit a branch.
What happens when my CD matures?
Approximately one month before your CD matures, you'll be sent a notice reminding you of the maturity date. At maturity, you'll have a seven-calendar-day grace period to renew or make any of the following changes:
- Change the term
- Make additional deposits
- Make withdrawals (as long as the remaining balance in the CD meets the minimum balance requirements)
- Close the CD
At maturity, your CD will automatically renew at the interest rate then in effect unless you make one of the changes noted above. Interest will not be paid during the grace period if you withdraw your funds and do not renew your CD.
What is the penalty for early withdrawal?
You may pay an early withdrawal penalty or a Regulation D penalty if you withdraw funds from your account before the term is complete. Some exceptions may apply. Penalties could reduce earnings on this account.
The Regulation D Penalty is seven days' simple interest on the amount withdrawn and applies to:
- Withdrawals made within seven days of account opening including the day the account was opened.
- Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured CD balance.
- Withdrawals within seven days of any prior withdrawal where the Bank's early withdrawal penalty is not applied.
Other than the Regulation D penalty described above, any money withdrawn from the CD before the end of its term will be subject to an early withdrawal penalty based on the length of the CD term. If your term is:
- Less than 90 days (or less than 3 months), the penalty is 1 month's interest
- 90 through 365 days (or 3-12 months), the penalty is 3 months' interest
- Over 12 months through 24 months, the penalty is 6 months' interest, or
- Over 24 months, the penalty is 12 months' interest.
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Terms and conditions apply. Mobile carrier's message and data rates may apply. See Wells Fargo's Online Access Agreement for more information.
Terms and conditions apply. Setup is required for transfers to other U.S. financial institutions, and verification may take 1 – 3 business days. Customers should refer to their other U.S. financial institutions for information about any potential transfer fees charged by those institutions. Mobile carrier’s message and data rates may apply. See Wells Fargo’s Online Access Agreement for more information.
Minimum opening deposit of $25,000 required. New Dollar Special Interest Rates require $25,000 in new money deposited to the account from sources outside of the customer's current relationship with Wells Fargo Bank, N.A., or its affiliates (which includes all deposit, brokerage, loan and credit accounts). Public funds are not eligible for these offers. Special Interest Rate applicable to initial term only. At maturity, time account will automatically renew for the Renewal Term stated above, at the interest rate and Annual Percentage Yield in effect on the maturity date for time accounts not subject to a Special Interest Rate, unless the Bank has notified you otherwise. The Bank may limit the amount you may deposit in this product to an aggregate of $2.5 million.
The Relationship Interest Rate is variable and subject to change at any time without notice, including setting the interest rate equal to the Standard Interest Rate or to zero (0.00%), which could change the Relationship Annual Percentage Yield (APY). For time accounts, the change will occur upon renewal. To receive the disclosed Relationship Interest Rate/Relationship APY, the eligible account must remain linked to a Prime Checking, Premier Checking or Private Bank Interest Checking account. Time Accounts must be linked at account open and at every renewal. If the checking account is closed for any reason or the eligible savings account or time account is de-linked, the account will revert to the then-current applicable Standard Interest Rate on that date; for time accounts, this change will occur upon renewal. Any Special Interest Rate would not expire until the expiration date of that Special Interest Rate.
Standard Interest Rate CDs require a $2,500 minimum opening deposit, unless otherwise noted.
Special Interest Rate CDs require a $5,000 minimum opening deposit unless otherwise noted. Public funds are not eligible for these offers. Special Interest Rates are applicable to initial term only. At maturity, Special Interest Rate CDs will automatically renew for the Renewal Term stated above, at the interest rate and Annual Percentage Yield (APY) in effect on the maturity date for CDs not subject to a Special Interest Rate, unless the Bank has notified you otherwise. The Bank may limit the amount you may deposit in this product to an aggregate of $2.5 million.
The interest rates and Annual Percentage Yields displayed here are for the Wells Fargo Bank locations in the California counties of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma.
Current Deposit Rates for 01/27/2024 - 02/02/2024
Annual Percentage Yields (APYs) and Interest Rates shown are offered on accounts accepted by the Bank and effective for the dates shown above, unless otherwise noted. Interest Rates are subject to change without notice.
CD rates are fixed for the term of the account. A penalty may be imposed for early withdrawal from a CD. For CDs, interest begins to accrue on the business day you deposit non-cash items, such as checks. Penalties – including early withdrawal penalties – could reduce earnings.
Interest is compounded daily. Payment of interest on Standard CDs is based on term:
- For terms less than 12 months (365 days), interest may be paid monthly, quarterly, semi-annually, or at maturity (the end of the term).
- For terms of 12 months or more, interest may be paid monthly, quarterly, semi-annually, or annually.
CD rates are subject to change at any time and are not guaranteed until the CD is opened.
Early withdrawal(s) may be subject to either the Regulation D Penalty or the early withdrawal penalty. Some exceptions may apply.
The Regulation D Penalty is seven days' simple interest on the amount withdrawn and applies to:
- Withdrawals made within seven days of account opening including the day the account was opened.
- Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured CD balance.
- Withdrawals within seven days of any prior withdrawal where the Bank's early withdrawal penalty is not applied.
Other than the Regulation D penalty described above, any money withdrawn from the CD before the end of its term will be subject to an early withdrawal penalty based on the length of the CD term. If your term is:
- Less than 90 days (or less than 3 months), the penalty is 1 month's interest,
- 90 through 365 days (or 3-12 months), the penalty is 3 months' interest,
- Over 12 months through 24 months, the penalty is 6 months' interest, or
- Over 24 months, the penalty is 12 months' interest.
See the Consumer Account Fee and Information Schedule and Deposit Account Agreement for additional consumer account information.
Wells Fargo Bank, N.A. Member FDIC.
QSR-0323-03725
LRC-0223
As a financial expert with extensive knowledge in banking and investment products, let me delve into the concepts used in the provided Wells Fargo Certificate of Deposit (CD) article.
Wells Fargo Certificate of Deposit Overview:
1. What is a CD Account?
- A Certificate of Deposit is a financial product that pays a fixed interest rate for a specified term, ranging from months to years. The term is the duration for which the deposited amount is kept, and by adhering to it, the initial deposit is guaranteed.
2. Interest Rates:
- CDs typically offer higher interest rates compared to other deposit products.
- Interest rates are fixed at the account opening and remain unchanged until the CD matures.
3. Security:
- Funds deposited in a Wells Fargo CD are FDIC-insured up to the maximum applicable limits, providing security to the account holder.
4. Flexible Terms:
- Wells Fargo offers flexible terms for CDs, allowing customers to choose the duration that best suits their financial goals.
5. Special Fixed Rate CDs:
- Special Fixed Rate CDs, such as the 7-month term, offer competitive interest rates, with a minimum opening deposit of $5,000.
6. Standard Fixed Rate CDs:
- Standard Fixed Rate CDs come with various terms (3, 6, or 12 months) and different interest rates based on the deposited amount.
7. APY (Annual Percentage Yield):
- APY is a crucial concept, representing the total interest paid on the account over a year, compounded daily for a 365-day period.
8. Renewal Process:
- Approximately one month before the CD matures, the account holder receives a notice.
- The CD can automatically renew at the prevailing interest rate unless the account holder decides otherwise during the grace period.
9. Early Withdrawal Penalties:
- Withdrawing funds before the CD term completion may incur penalties.
- The penalty varies based on the length of the CD term, ranging from 1 to 12 months' interest.
10. Funding Options:
- Three ways to fund a CD: transfer from an existing Wells Fargo account, transfer from a non-Wells Fargo account, or by check or money order by mail.
11. APYE (Annual Percentage Yield Earned):
- The statement includes the APYE, reflecting the total interest earned on the account for the covered period.
12. Relationship Interest Rate:
- Variable and subject to change, this rate is linked to specific checking accounts and may affect the overall APY.
Additional Information:
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Contact Information:
- Customers can reach Wells Fargo through various channels, including chat, phone, and in-person appointments.
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Minimum Opening Deposits:
- Different CDs have different minimum opening deposit requirements, and these vary based on the type of CD.
-
Current Deposit Rates:
- Rates are subject to change, and the provided rates are specific to certain California counties.
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Regulation D Penalty:
- A seven-day simple interest penalty may apply to withdrawals made within specific periods.
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Terms and Conditions:
- Various terms and conditions apply, and customers are encouraged to refer to the Consumer Account Fee and Information Schedule for detailed information.
In conclusion, a Wells Fargo CD provides a secure and flexible way to grow savings with competitive interest rates and options for different financial goals. The information provided here serves as a comprehensive guide for potential investors.
