bank rates

Wells Fargo Has A CD Rates Quirk

It's 58-month CD pays the best rate.I don’t think I’ve ever posted about Wells Fargo’s CD rates without shaking my head in amazement at least once.

I’ve never been able to make heads or tails of how the big bank determines which states get which special offers and, then, which rates.

But here’s today’s head-shaker: The rates on Wells Fargo’s best term vary in certain states by a mere 0.01%.

Really, Wells Fargo?

The 58-month special offer remains Well Fargo’s best (www.wellsfargo.com).

Some states pay 1.64% APY; others, 1.65% APY with a $5,000 minimum deposit.

Odd.

Savers in Ohio and Indiana, for whatever reason, get 1.70% APY.

All beat the current average annual yield for 60-month CDs, which reached a record low 1.42% this week.

But the top nationally available 60-month CD rate on our CD Rates Leaderboard is a significantly higher 2.50%, thanks to Virginia-based MainStreet Bank.

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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