bank rates

All Things Now Being Equal, CD Rates At Wells Fargo Still Need Improvement

Big bank pays as much as 1.15% APY for odd-term CD ratesWells Fargo now pays just about everyone a consistent CD rate.

This is news.

Wells Fargo, the big bank with more 6,000 branches, typically has a plethora of odd-term specials paying a variety of rates in various geographic areas.

But its 58-month special appears to now be good in every state except North Dakota, South Dakota and Wyoming. Those states don’t have a 58-month CD special.

Unfortunately, that special only pays 1.15% APY.

Sure, that ties the current average annual yield offered by large banks and thrifts for 60-month CDs — a record low.

But it’s more than a percentage point lower than the top nationally available 60-month CD rate of 2.20% APY on our CD Rates Leaderboard.

Quaint Oak Bank of suburban Philadelphia owns that rate.

Earlier this year, Wells Fargo paid as much as 1.90% APY for this odd term.

A few of this big bank’s other odd-term CD specials squeeze past average. To check out your area’s rates, go to the website (www.wellsfargo.com) and search by your state.

Its standard CD rates just aren’t good.

We’re talking 0.05% APY for 12-month CDs. The average annual yield for that term is 0.34% APY.

There are definitely better deals out there, and you’ll find them if you compare Wells Fargo’s returns with the best CD rates from scores of other banks in our extensive database.

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  1. Kathy at Bankaholic said:
    on February 5th at 01:39 pm

    Wells Fargo is still offering the 58-month special CD rate.