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Página principalBusiness Time Accounts (CDs)
CA, 94105 Change Location
Business savings with flexible terms
Earn a guaranteed rate of interest for the term you select
Wells Fargo's Business Time Account, also known as a CD, is designed for business owners with cash reserves that can be held for a specified length of time. It offers fixed interest rates with flexible terms, along with the security of FDIC insurance.
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Lock in a rate – it’s guaranteed for the term of your CD.
What is a CD?
A CD 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 depositing your money into a CD for a set term, you lock in your initial deposit principal and interest rate until your money matures.
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 to you via check if your CD has a minimum balance of $5,000.
Benefits of CDs
There are a number of reasons you may want to open a CD:
- Interest rates. CDs typically pay higher interest rates than other deposit products. Higher CD rates may be available for longer terms or larger deposited amounts.
- Guaranteed return. Since the interest rate of a Fixed Rate CD is set at account opening and does not change until the CD matures, you know exactly how much money you will earn during the term of your CD.
- Security. Your funds are FDIC-insured up to the maximum applicable limits.
You can withdraw your funds early if you need to, but you may be assessed an early withdrawal penalty or a Regulation D penalty. See additional details in the Wells Fargo CD rate and penalty disclosures below.
What happens when your 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 ten 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
CDs renew automatically at maturity. Interest will not be paid during the grace period if you withdraw your funds and do not reinvest your CD.
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Apply in personThe Annual Percentage Yield (APY) 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. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
Annual Percentage Yield (APY) and Annual Percentage Yield Earned (APYE): The Annual Percentage Yield (APY) is a percentage rate reflecting the total amount of interest paid on an account based on the interest rate and the frequency of compounding for a 365-day period. The Annual Percentage Yield Earned (APYE) is an annualized rate that reflects the relationship between the amount of interest actually earned on your account during the statement period and the average daily balance in the account for the statement period.
We calculate both your APY and APYE according to formulas established by federal regulations. The APYE appears on your account 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. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
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 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 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).
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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 Business Account Fee and Information Schedule and Deposit Account Agreement for additional business account information.
Wells Fargo Bank, N.A. Member FDIC.
QSR-09202026-7765963.1.1
LRC-0325
A CD has a specific, fixed term (which is why they are sometimes called “time accounts”), and generally earns interest at a fixed interest rate.
