bank rates

More Can Get Wells Fargo’s Top CD Rates

Bank's top rate of 2.15% is available to most saversColor us surprised.

Wells Fargo has opened the door a bit on its 58-month special offer.

For the majority of U.S. savers, this big bank with more than 6,000 branches is now paying 2.15% APY with a $5,000 minimum deposit.

That’s nearly a half-percentage point better than the average annual yield for 60-month CDs from large banks and thrifts, which is 1.71% APY.

When we last wrote about Wells Fargo, only a handful of states could get that rate.

Now, only a handful of states are shut out.

Sorry, savers in Arkansas, Illinois, Iowa, Michigan, Minnesota, Nevada, New Mexico, Texas and Wisconsin, that’s you. You’ll earn just 1.90% APY.

And those of you in the Dakotas and Wyoming don’t have a 58-month special at all.

Wells Fargo has other special offers, which also vary by state, but most are below average.

But they’re still better than the bank’s standard CD rates, which include 0.05% APY for a 3-month CD and 0.15% APY for a 12-month CD. (And the average, record low returns for those CDs: 0.18% and 0.45%, respectively.)

A better deal on every term can be found on our latest CD Rates Leaderboard.

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 May 15th at 10:53 am

    Wells Fargo’s standard 12-month CD rate has dropped to 0.10% APY as of May 15, 2011.