Wells Fargo savings account and CD rates
Wells Fargo advertises 0.05% APY on its Platinum Savings account. That is 0.32 percentage points below the national savings average of 0.37% (FDIC, Sep 2026).
The rate needs a linked account at the bank.
Ranked #2725 of 2929 tracked savings rates by advertised APY. For a $10,000 balance it would rank #2628.
Wells Fargo at a glance
| Savings | |
|---|---|
| Top savings APY | 0.05% · Platinum Savings · needs a linked account at the bank |
| Minimum to open | $25 · Platinum Savings |
| Against the national average | 0.32 percentage points below the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 3.99% · 11 months · 11 Month Special Fixed Rate CD |
| Minimum to open | $5,000 · 11 months CD |
| Against the national average | 2.26 percentage points above the 1.73% FDIC 12-month CD average (Sep 2026) |
| FDIC certificate | 3511 · Sioux Falls, SD |
|---|---|
| Website | www.wellsfargo.com |
| Branches | 4,182 branches across 39 states and DC |
| Availability | Nationally available |
Wells Fargo savings and CD rates
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 12.00%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.20% or more. See the highest savings rates.
Wells Fargo CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 4 months | 3.49% | $5,000 | 4 Month Special Fixed Rate CD |
| 7 months | 3.84% | $5,000 | 7 Month Special Fixed Rate CD |
| 11 months | 3.99% | $5,000 | 11 Month Special Fixed Rate CD |
| 15 months | 3.74% | $5,000 | 15 Month Special Fixed Rate CD |
Interactive Tool
Calculate Savings for Wells Fargo
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$18.60(0.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,018.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Wells Fargo pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Wells Fargo paid a higher average rate on savings and money market deposits than 39% of banks that reported a figure (3,938 banks; FDIC call report). The all-bank median was 1.45%.
- Wells Fargo, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the 3,938 banks that reported a figure for the quarter ending June 30, 2026.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Platinum Savings | 0.05% | $25 | $0 | None | $12. Waived with $3,500 minimum daily balance. | Linked account at the bank | One rate | |
| Fine print: This is a tiered savings account where rates vary based on the balance. The highest rates require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. | ||||||||
| Way2Save Savings | 0.01% | $25 | $0 | None | $5. Waived under some circumstances. | None | One rate | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 4 Month Special Fixed Rate CD | 4 months | 3.49% | $5,000 | not stated | not stated |
| 7 Month Special Fixed Rate CD | 7 months | 3.84% | $5,000 | not stated | not stated |
| 11 Month Special Fixed Rate CD | 11 months | 3.99% | $5,000 | not stated | not stated |
| 15 Month Special Fixed Rate CD | 15 months | 3.74% | $5,000 | not stated | not stated |
Fine print for 4 CDs above: The special rate applies to the initial term only. At maturity the CD renews for a different term at the standard rate. A higher relationship APY requires a linked Wells Fargo checking account.
Opening and using the account
| Availability | Nationally available |
|---|---|
| Footprint | 4,182 branches across 39 states and DC |
| App Store rating | 4.9 out of 5 |
| Google Play rating | 4.8 out of 5 |
| Zelle | Available, daily limit $3,500 |
| Eligibility | not stated |
How Wells Fargo behaves over time
Every observation of the advertised Platinum Savings rate in the last 12 months was 0.05% (observed through Oct 17, 2026). The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 26, 20267 Month Special Fixed Rate CDRaise:3.74%to3.84%
- Obs. Sep 26, 202611 Month Special Fixed Rate CDRaise:3.89%to3.99%
- Obs. Sep 26, 202615 Month Special Fixed Rate CDRaise:3.64%to3.74%
- Platinum Savings
- The same as 90 days ago.
- 11 months CD
- The same as 7 days ago.
At the top advertised rates we observed for Wells Fargo's Platinum Savings, $10,000 would have grown to about $10,005 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $9,676 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
Wells Fargo CD rates over time
Who is Wells Fargo?
| Headquarters | Sioux Falls, SD |
|---|---|
| Founded | 1852 |
| Scale | $1.91T assets · $1.56T deposits, $1.15T of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 3511 |
| BBB rating | D- · Not BBB Accredited |
| Charter state | South Dakota · one of 56 insured banks chartered there (Q2 2026, FDIC) |
| Size | 3rd-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 85% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Wells Fargo pays on deposits above.
Common questions about Wells Fargo
Is Wells Fargo FDIC insured?
Yes. Wells Fargo is FDIC insured under certificate 3511, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Wells Fargo?
Wells Fargo requires a minimum deposit of $25 to open its Platinum Savings account, as observed on Oct 17, 2026. Check the bank's current terms before you open an account.
Does Wells Fargo have branches?
Yes. Wells Fargo operates 4,182 branches according to FDIC branch records, in addition to its website and mobile apps.
Wells Fargo against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Wells Fargo | 0.05% | 1.18% | $25 | 4,182 branches across 39 states and DC |
| 1st Community Bank | 0.05% | 0.45% | not stated | 2 branches in IL |
| Arrow Bank National Association | Up to0.05% | 2.21% | $500 | 56 branches in NY |
| Bank of Franklin County | 0.05% | 0.50% | $25 | 6 branches in MO |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Wells Fargo's.
Compare Wells Fargo with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
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- Wells Fargo vs SoFi Bank
American Express last changed its rate on October 15, 2026, up 10 basis points. Wells Fargo has not changed its rate since at least January 21, 2026.
Wells Fargo vs American ExpressCapital One last changed its rate on September 25, 2026, up 10 basis points. Wells Fargo has not changed since at least January 21, 2026.
Wells Fargo vs Capital One
Similar banks and related pages
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Rate hubs: today's highest savings rates, and CD rates by term.