Wells Fargo: CD rates and bank review
Wells Fargo is one of the oldest and largest banking institutions in the United States. Originally founded in 1852 in the era of the California Gold Rush, Wells Fargo (and Wachovia) now have over 13,000 locations nationwide. They are the fourth largest bank in the US by assets and third largest by market cap. They are headquartered in San Francisco, California and serve roughly 48 million customers with over a quarter of a million employees.
They offer almost every banking product available, for both personal and business accounts, as well as retail and wholesale banking.
Current CD rates offered by Wells Fargo:
Please Note – These CD rates are current as of December, 2009. Early withdrawals may result in reduced earnings. These accounts are FDIC insured. They may offer deposits with longer durations than what is shown below but you will need to contact a local representative for rates. A minimum deposit of $2,500 is required to open an account.
3 month CD (certificate of deposit) yielding 0.15% APY
6 month CD (certificate of deposit) yielding 0.25% APY
12 month CD (certificate of deposit) yielding 0.40% APY
Promotional CD rates:
9 month CD (renews for 6 month term) yielding 0.50% APY with a minimum deposit of $5,000 required.
18 month CD (renews for 12 month term) yielding 0.90% APY with a minimum deposit of $5,000 required.
23 month CD (renews for 12 month term) yielding 1.40% APY with a minimum deposit of $5,000 required.
30 month CD (renews for 24 month term) yielding 1.90% APY with a minimum deposit of $5,000 required.
At term end, you have a seven-day grace period during which you can:
- Let your CD renew automatically at the current rate — no need for you to do a thing
- Withdraw all or part of your deposit
- Select a new term
- Make one additional deposit
