bank rates

Go Long For Wells Fargo’s Best CD Rates

The trick to finding decent CD rates at Wells Fargo is to go long.

It’s impossible to find a big bank with great rates. But most big banks offer average rates on at least some certificates of deposit if you know where to look.With a $5,000 minimum deposit Wells will sell you one of three longer, odd-term CDs that pay an average rate.

Wells is no exception.

None of its offerings come close to any of the best nationally available CD rates.

Take a look at the most recent CD Rates Leaderboard and you’ll see what we mean.

The three short-term CD rates Wells Fargo is currently promoting (with a $2,500 minimum deposit) are even way below average.

You can get a:

3-month CD for 0.10% APY vs. an average rate of 0.24% APY.

6-month CD for 0.15% APY vs. an average rate of 0.35% APY.

12-month CD for 0.20% APY vs. an average rate of 0.61% APY.

Yuck. You don’t want that.

But with a $5,000 minimum deposit Wells will sell you one of three longer, odd-term CDs that pay an average or, in one case, somewhat higher than average rate:

You can get a:

23-month CD for 0.90% APY vs. an average return of 0.91% APY for a 24-month CD.

33-month CD for 1.15% APY vs. an average return of 1.18% APY for a 36-month CD.

54-month CD: for 1.90% APY vs. an average return of 1.72% APY for a 60-month CD.

Compare that to what Chase and Bank of America are offering.

Wells might be a little less generous. But it’s in the ball park.

One odd thing.

When we didn’t see 24-, 36- and 60-month CD rates on the bank’s Web site, we called and asked for the returns.

We were told they’re not selling those CDs right now. Just the odd-term specials.

If you want to shop around, you’ll also find better CD rates from other banks in our extensive database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
Loading...
One Existing Comment
  1. Charley Rechlin said:
    on September 6th at 10:37 am

    Wells Fargo had some very competitive 25-month CD rates until mid-2009, then decided to shrink their deposit base and turn the screws on customers. Wachovia also had some good CDs until the merger went through. Although I haven’t checked recently, WF use to bump its published rates 10 basis points for customers having a PMA checking package and at least $25,000 on deposit in all their accounts. In any event, I expect to move all my CD accounts at WF to online banks as they mature.