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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
APY (Annual Percentage Yield)
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.
Special Fixed Rate CD Rates
Open a Special Fixed Rate CD account$5,000 minimum opening deposit
| Term | Special Interest Rate | Annual Percentage Yield (APY) | Relationship Interest Rate | Relationship APY | Renewal Term |
|---|---|---|---|---|---|
| 5 months | 4.40% | 4.50% | 4.65% | 4.76% | 3 months |
Standard Fixed Rate CD Rates
Open a Standard Fixed Rate CD account
$2,500
minimum opening deposit
| Term | Standard Interest Rate | Annual Percentage Yield (APY) | Relationship Interest Rate | Relationship APY | Balance |
|---|---|---|---|---|---|
| 3 months | 0.50% | 0.50% | 0.51% | 0.51% | $0 - $4,999.99 |
| 0.50% | 0.50% | 0.51% | 0.51% | $5,000 - $9,999.99 | |
| 0.50% | 0.50% | 0.51% | 0.51% | $10,000 - $24,999.99 | |
| 0.50% | 0.50% | 0.51% | 0.51% | $25,000 - $49,999.99 | |
| 0.50% | 0.50% | 0.51% | 0.51% | $50,000 - $99,999.99 | |
| 1.00% | 1.01% | 1.01% | 1.02% | $100,000 + | |
| 6 months | 2.47% | 2.50% | 2.48% | 2.51% | $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 + | |
| 1 Year | 1.49% | 1.50% | 1.50% | 1.51% | $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 | |
| 1.98% | 2.00% | 1.99% | 2.01% | $100,000 + |
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.
