Wells Fargo Step Rate CD Review

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

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?

• Traditional

What APY does Wells Fargo Bank offer on its CDs?

Wells Fargo Step Rate CD offers an APY starting at 1.63% and ranging up to 1.68% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

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

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

What types of early withdrawal penalties does Wells Fargo Step Rate CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Wells Fargo Bank does not charge an early withdrawal fee.