58-Month CD Rate Still Wells Fargo’s Best

Wells Fargo still has a fairly consistent CD rate for U.S. savers with its 58-month special.

That rate — 1.15% APY — hasn’t changed in the past couple months.

I wish I didn’t remember the days when this big bank with more than 6,000 branches paid up to 2.15% APY for this odd-term.

But that was just a year ago, and my short-term memory isn’t that bad.

The bank’s current offer ties the average annual yield that large banks and thrifts pay for the 60-month term.

The 60-month leader on our CD Rates Leaderboard pays 1.95% APY.

While the 58-month special, which requires a $5,000 minimum deposit, is consistent in the handful of states I looked up on the website, it’s not available in North Dakota, South Dakota and Wyoming. For some reason, those states have never had a 58-month CD special.

Indeed, Wells Fargo has always had a mad-scientist method of offering odd-term specials paying a variety of rates in various geographic areas across the country.

It’s confusing to say the least, which is why you should always enter your ZIP code on the website to get the specific rates for your area.

For example, some states have a 26-month CD special, others a 29-month, a 35-month, a 39-month or a 45-month CD special.

And there might be different rates for different states in each of those odd-terms.

Like I said, confusing.

And likely not worth your time — just one or two of these odd-term CD specials manage to squeeze past average.

Wells Fargo’s standard CD rates are limited. It offers 3-, 6- and 12-month terms.

Those pay as little as 0.01% APY for the 3-month term in some states, including Georgia, Pennsylvania and South Carolina.

The average annual yield for the 3-month term is 0.16%.

Learn more about Wells Fargo at www.wellsfargo.com or call 800-869-3557.

Compare Wells Fargo’s returns with the best CD rates from scores of other banks in our extensive database.