Destination® IRA: FDIC-Insured CDs and Savings Accounts

Destination IRA is our suite of FDIC-insured CDs (Time Accounts) and savings accounts that offer simple, secure, low-risk options to save for your retirement.

Destination IRA has a CD or savings account to suit your needs

CDs (Time Accounts)

Choose from a fixed-rate CD with terms of 3–144 months, or a 24-month variable-rate CD.

Savings accounts

Choose from two variable-rate retirement savings accounts with competitive interest rates.

Enjoy the benefits of:

  • Security. Your Destination IRA deposits are FDIC-insured up to $250,000.
  • Convenience. You can access your account information online at any time, or call us at 1-800-237-8472.
  • Control. Access your Destination IRA, and other Wells Fargo checking, savings, credit, and investment balances simultaneously online — all with just one password.
  • Tax-deferred interest. Earnings grow tax-deferred until you withdraw your money, and may be tax-free if you meet certain conditions.

Learn more about IRAs

If you’re not sure whether you want a Traditional or Roth IRA, we can help you compare IRAs. Our IRA eligibility calculator can also help determine how much you can contribute.

Changing jobs, moving, or nearing retirement?

Explore how Wells Fargo can help you simplify and take control of your retirement funds in a single IRA with a rollover.

Small business owners

Find out more about SEP (Simplified Employee Pension) IRAs.

Where do I select an IRA CD for my Destination IRA Traditional plan or Roth plan?

To choose an IRA CD, look for the Fund Your Account page, Account Options section, in Step 4 of the online application.


Retirement CD
Step Rate Retirement CD
Description
Retirement CD rates are fixed for the term of the CD and generally earn higher rates for longer terms.
A Step Rate CD is a 24-month CD featuring guaranteed interest rate increases and penalty-free withdrawals every six months, provided you maintain the minimum opening balance. (Not available to open online. Please apply in person or call us: 1-800-237-8472).
Best suited for
Individuals who can contribute at least $1,000 to open their accounts and want to lock in a fixed rate for a specific number of months in an FDIC-insured account.
Individuals who can contribute at least $1,000 to open their accounts and can benefit from the peace of mind that comes from knowing that penalty-free withdrawals and guaranteed interest rate increases are available every six months in an FDIC-insured account.
Terms
3 months to 144 months

24 months

Interest rate

Fixed

View Rates

Interest is earned on the entire daily collected balance and is compounded daily and paid monthly.

Variable

View Rates

Interest is earned on the entire daily collected balance and is compounded daily and paid monthly.
Minimum opening deposit
$1,000 $1,000
Fees
  • No annual IRA custodial fee.
  • No monthly account service fee.
  • Early withdrawal fees apply to withdrawals you make prior to maturity (with exceptions for age and certain other conditions).
  • No annual IRA custodial fee.
  • No monthly account service fee.
  • You may make partial withdrawals without an early withdrawal fee for five business days beginning on each of the three days the interest rate increases, provided you maintain the minimum opening balance.    

Where do I select an IRA savings account for my Destination IRA Traditional plan or Roth plan?

To choose an IRA savings account, look for the Fund Your Account page, Account Options section, in Step 4 of the online application.


Way2SaveSM Retirement Account

Retirement High Yield Savings Account

Description
A variable-rate savings account that offers competitive interest rates.
A variable-rate savings account for customers with larger balances — this account also offers tiered interest rates that are higher at larger balance tiers.
Best suited for
Individuals just starting to save for retirement, who are looking for a consistent and convenient way to build up their savings in an FDIC-insured account.
Individuals who have $10,000 or more to roll over or transfer from another retirement account and who want flexibility within an FDIC-insured account.
Automatic savings
  • Make automatic contributions from a Wells Fargo checking or savings account.
  • You can schedule automatic contributions to occur weekly, every two weeks, twice a month, last Friday of month, or monthly.
  • Easily adjust the amount and frequency as your needs change.
Interest rate
Interest is earned on the entire daily collected balance and is compounded daily and paid monthly. View Rates
Minimum opening deposit
$100
$100
Fees
  • No annual IRA custodial fee.
  • No monthly account service fee.
We’re here to help. Open Online

Visit a store or call our toll free number: 1-800-237-8472

View Wells Fargo’s Traditional IRA Custodial Agreement and Disclosures (PDF)*

View Wells Fargo’s Roth IRA Custodial Agreement and Disclosures (PDF)*