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Wells Fargo has two CD options: standard CDs and special CDs. The primary difference between the two accounts is that special CDs have higher minimum opening deposits and more competitive interest rates than the bank's standard ones.
Wells Fargo has standard rates and relationship rates. You can qualify for a relationship rate when you link Wells Fargo Prime Checking, Wells Fargo Premier Checking, or Wells Fargo Private Bank Interest Checking.
Wells Fargo only offers fixed-rate CDs, which means your rate will remain the same throughout the entire term. You'll want to consider another financial institution if you'd like to open a variable-rate CD, like a step-up CD. Step-up CDs offer a guaranteed rate increase at a specific date. Learn more about current Wells Fargo CD rates below.
Review of Current Wells Fargo CD Rates
A Wells Fargo Special Fixed Rate CD offers a higher interest rate than the average CD. The best 3-month Standard Fixed Rate CD also pays a good interest rate, but the other standard terms aren't as strong.
You may prefer a financial institution from our best CD rates guide if you don't meet Wells Fargo's steep minimum opening requirements, or if you're searching for a larger variety of CD terms.
Wells Fargo Standard Fixed Rate CD Rates
A Wells Fargo Standard Fixed Rate CD offers 1.50% to 4.51% APY.
Wells Fargo pays one of the best 3-month CD rates, but the other terms aren't as strong. If you want a term longer than three months, a Wells Fargo Special Fixed Rate CD or ones at another bank are probably a better fit.
Wells Fargo CD rates are the same in many areas, but they can vary depending on where you live. We used the zip code from New York City, New York, for the following Wells Fargo CD rates:
| Standard Fixed Rate Term | Standard APY | Relationship APY |
| 3-month | 4.50% | 4.51% |
| 6-month | 2.50% | 2.51% |
| 1-year | 1.50% to 2.00%* | 1.51% to 2.01%* |
*The 1-year CD offers a higher interest rate if you deposit $100,000 or more.
Wells Fargo Special Fixed Rate CD Rates
A Wells Fargo Special Fixed Rate CD pays 4.25% to 5.01% (varies by location) APY, depending on the term.
The Wells Fargo Special Fixed Rate CD might be worthwhile if you have $5,000 or more to open an account because this CD offer better interest rate regardless of your account balance.
We used the zip code from New York City, New York, for the following Wells Fargo Special Fixed Rate CD rates:
| Special Fixed Rate Term | Standard APY | Relationship APY |
| 4-month | 4.75% | 5.01% |
| 7-month | 4.75% | 5.01% |
| 11-month | 4.25% | 4.51% |
Opening a Wells Fargo CD
Wells Fargo CDs can be opened online or at a nearby branch. Bear in mind the bank offers additional term options if you visit a branch.
To open a CD, you must be at least 18 years old. If you apply online, you'll need to include a social security number or ITIN number, a U.S. address, and a phone number. If you apply at a branch, you must take physical documents verifying your identity and home address. People who aren't U.S. citizens or permanent residents can use a foreign passport or Matricula Consular if they don't have a U.S. ID.
A Wells Fargo Standard Fixed Rate CD has a $2,500 minimum opening deposit, and a Wells Fargo Special Fixed Rate CD has a $5,000 minimum opening deposit. These requirements are pretty steep compared to other banks. Usually, only $1,000 is required to open a CD.
Should You Open a Wells Fargo CD?
Wells Fargo might be worth considering if you are searching for a CD term of one year or less. In particular, a Wells Fargo Special Fixed Rate CD could be worthwhile if you are looking for high CD rate.
Wells Fargo probably won't be the best option if you're searching for CDs with low opening requirements. Other financial institutions let you open CDs with $1,000 or less. Wells Fargo requires $2,500 to $5,000 depending on which type of CD you open.
You also might prefer a different bank if you prefer more CD variety while applying online. Generally, most financial institutions at least offer CDs ranging from three months to five years.
There are also financial institutions that offer other types of CDs. For example, some banks have no-penalty CDs, which do not charge early withdrawal penalties if you need to take out money before a term ends.
Wells Fargo CD Pros and Cons
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How Wells Fargo CD Rates Compare
Compare Wells Fargo CD rates to popular CD options.
Wells Fargo CDs vs. U.S. Bank CDs
U.S. Bank offers four types of CDs: special CDs, standard CDs, step-up CDs, and trade-up CDs. A trade-up CD allows you to request a rate increase at a U.S. Bank branch once during a term if interest rates go up.
In general, U.S. Bank CD rates aren't as high as Wells Fargo's rates. But when comparing the two banks, U.S. Bank Special CDs have the most competitive interest rates.
You also might lean more toward U.S. Bank if you'd like to open a CD with a low minimum opening deposit. U.S. Bank lets you open an account with $500. At Wells Fargo, you need at least $2,500.
U.S. Bank Review
Wells Fargo CDs vs. Capital One CDs
Capital One 360 CD might be a better option if your priority is opening a CD with a low initial deposit. Capital One 360 lets you open a CD with $0. At Wells Fargo, you need at least $2,500.
Capital One 360 Bank Review
Why You Should Trust Us: How We Reviewed Wells Fargo CDs
For our Wells Fargo CD review, we rate bank accounts on a scale from zero to five stars. For our CD review, we used our CD methodologywhich looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, and the ethics of the company.
Wells Fargo CDs FAQs
What are the current CD rates at Wells Fargo?
A Wells Fargo Standard Fixed Rate CD pays 1.50% to 4.51% APY while a Wells Fargo Special Fixed Rate CD offers 4.25% to 5.01% (varies by location) APY. The exact APY will depend on the term you choose.
How can I open a CD account with Wells Fargo?
You can open a Wells Fargo CD online or at a branch. You must be at least 18 years old to open a bank account and provide general information, like your home address and social security number. People who aren't U.S. citizens or residents can use alternative forms of I.D. if they don't have a U.S. ID.
Is there a minimum deposit required for Wells Fargo CDs?
Yes. Wells Fargo Standard Fixed Rate CDs require at least $2,500, and Special Fixed Rate CD needs a minimum of $5,000.
Can I access my funds before a Wells Fargo CD matures?
There are early withdrawal penalties for Wells Fargo CDs if you access funds before the account's maturity. For CD terms between three months and one year, the penalty is three months of interest.
How do Wells Fargo's CD rates compare to other financial institutions?
The Wells Fargo Special Fixed Rate CDs offer competitive rates compared to other financial institutions. The Standard Fixed Rate CDs pays a good 3-month CD rate but the other terms aren't as strong as CDs from online banks or credit unions.
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She is a banking expert, and has about three years of experience reviewing banking products and analyzing savings and CD trends.Sophia oversees Personal Finance Insider's banking vertical. She edits and writes bank reviews, banking guides, and banking, budgeting, and savings articles for the Personal Finance Insider team.Sophia joined Business Insider in July 2021. Sophia is an alumna of California State University Fullerton, where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services »Below are links to some of her most popular stories:
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