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Wells Fargo CD

in CD Accounts from Wells Fargo Bank · fdic

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Wells Fargo CD

Unaffiliated

in CD Accounts from Wells Fargo Bank · Member FDIC

Net Recommendation Score +67

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +67, equating to 4.3 on a 5 point rating scale.

+67

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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0 users don't recommend
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Highlights
Community Rating

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Minimum Opening Deposit Starting at $2,500
Certificate Term
  • 3 months
  • 6 months
  • 12 months
APY (Annual Percentage Yield) 0.01% - 0.02%

Wells Fargo CD Review

Wells Fargo CD is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. Wells Fargo CD is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.02.
  • High minimum deposit. You must deposit a minimum of $2,500, which is high compared to most CD accounts.
  • Limited selection of CD terms. Wells Fargo CD only offers three CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of Wells Fargo CD
Pros Cons
  • FDIC insured.
  • Available in all 50 states.
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty CD option.
Wells Fargo CD FAQ

Are cd accounts from Wells Fargo Bank federally insured?

Yes, your Wells Fargo Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Wells Fargo Bank offer?

Wells Fargo CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.
  • IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Wells Fargo CD offers a CD that is specifically for retirement.

What CD rates does Wells Fargo Bank offer on its CDs?

Wells Fargo CD offers an APY starting at 0.01% and ranging up to 0.02%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does Wells Fargo CD offer?

Wells Fargo Bank offers CD terms of the following lengths:
Wells Fargo CD Rates & Terms
Description
3-Month APY 0.01% - 0.02%
6-Month APY 0.01% - 0.02%
12-Month APY 0.01% - 0.02%
APY (Annual Percentage Yield) 0.01% - 0.02%

What is the minimum deposit to open a CD account with Wells Fargo Bank?

Wells Fargo CD requires a minimum deposit of $2,500 to open an account.

What is the grace period for Wells Fargo CD?

There is a 7-day grace period for Wells Fargo CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 7-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Wells Fargo CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Wells Fargo Bank does not charge an early withdrawal fee.

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Message From Wells Fargo CD

A Wells Fargo CD is a good way to build your savings and keep your peace of mind. With a Wells Fargo CD, you can enjoy financial security knowing your funds are FDIC-insured up to the maximum allowable limits. Investing in a CD can provide peace of mind whether you're saving for tomorrow, next year's projects, college tuition, or retirement.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Wells Fargo Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $2,500
3-Month APY 0.01% - 0.02%
6-Month APY 0.01% - 0.02%
12-Month APY 0.01% - 0.02%
APY (Annual Percentage Yield) 0.01% - 0.02%
CD Accounts
  • Bump Up
  • IRA
  • Traditional
Grace Period for Account Changes 7 days
Certificate Term
  • 3 months
  • 6 months
  • 12 months

Wells Fargo CD Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +67, equating to 4.3 on a 5 point rating scale.

+67

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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