Wells Fargo: Savings Accounts & Rates

By Aviel Fahl

Savings rates updated: 11/12/2025

Mission statement: Banksparency aims to make Wells Fargo's savings accounts transparent and comparable to those of other banks. .

Note: Interest rates below are reported as APY, or Annual Percentage Yield

We earn a commission if you open an account through some links on this page.

Savings Overview

Platinum Savings: 0.05% - 0.05% APY(Rank 94 out of 100 savings accounts)

Minimum Deposit: $25 | Bundled Savings & Checking Account

Way2Save Savings: 0.01% APY(Rank 100 out of 100 savings accounts)

Minimum Deposit: $25

National Savings Interest Rate: 0.4% (as of 10/20/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: San Francisco, California

Founded: 1852

Access to Branches: Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.

Deposit Insurance: FDIC Cert # 3511

BBB Rating: D- (Not BBB Accredited)

App Store Rating: 4.9/5

Google Play Rating: 4.8/5

Website: Visit Wells Fargo

Our Take on Wells Fargo

Highlights

  • Platinum Savings offers 0.05% APY for high balances over $1,000,000.
  • Way2Save Savings requires only $25 to open an account.
  • Wells Fargo has branches and ATMs in 36 states and D.C.
  • High app rating: 4.9 on App Store and 4.8 on Google Play.

Considerations

  • BBB rating is D- and not BBB accredited.
  • Way2Save Savings has a low APY of 0.01%.
  • Platinum Savings requires a $1,000,000 minimum balance for higher APY.
  • Maintenance fees apply: $5 for Way2Save and $12 for Platinum.
Summary: Wells Fargo offers two savings accounts with low APYs, 0.01% for Way2Save and 0.05% for Platinum Savings, which requires a $1,000,000 minimum balance. The bank has a D- BBB rating and is not accredited, which may concern some savers. However, it provides convenient access with branches in 36 states and a high app rating of 4.9. Maintenance fees may apply, impacting overall savings potential.

Savings Accounts: In-Depth View

Savings Accounts Offered by Wells Fargo

FeatureWay2Save Savings Platinum Savings
APY
0.01% (as of 11/12/2025)0.05% - 0.05% (as of 11/12/2025)
APY TrendStable for the last quarter-2.46% QoQ
Minimum Deposit$25$25
Minimum Balance for APY$0$1,000,000
FDIC-insured
YesYes
Online OnlyNoNo
Bundled Account
NoYes
Direct Deposit Required
NoNo
Compound Frequency
DailyDaily
Maintenance Fee$5. Waived under some circumstances.$12. Waived with $3,500 minimum daily balance.
EligibilityUnited StatesUnited States
NoteN/AThis is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details.
Sponsored Link

No deposit agreement summary available for this bank.

Calculate Savings for Wells Fargo

All calculations are based on APY.

⚠️ The minimum balance for the higher APY on this account is $1,000,000.

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $18.6 (0.13%)
  • Total contributions: $13,000 (92.73%)
  • Initial deposit: $1,000 (7.13%)

Your total balance

$14,018.60

Effective APY: 0.05% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Wells Fargo Savings Rates Over Time

Compare Wells Fargo's Savings Accounts

  • Affirm - 3.60% APY
  • All America Bank - 1.50-3.25% APY
  • Ally Bank - 3.30% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.50% APY
  • Ameriprise Bank - 3.15-3.15% APY
  • Axos Bank - 4.51% APY
  • Bank5 Connect - 3.85% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 3.90% APY
  • Betterment - 3.50% APY
  • BMO Alto - 3.25% APY
  • Bread Savings - 4.20% APY
  • BrioDirect - 4.00% APY
  • Capital One - 3.40% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.00-3.50% APY
  • CIBC Bank USA - 3.92% APY
  • CIT Bank - 0.25-3.85% APY
  • Citibank - 3.35% APY
  • Citizens Access™ - 3.35% APY
  • Colorado Federal Savings Bank - 4.05% APY
  • ConnectOne Bank - 3.60% APY
  • Customers Bank - 3.73% APY
  • Discover Bank - 3.40% APY
  • Elevault - 4.08% APY
  • E*TRADE from Morgan Stanley - 3.75% APY
  • EverBank - 4.05% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.00% APY
  • Fitness Bank - 4.75% APY
  • Flagstar Bank - 3.75% APY
  • FNBO Direct - 3.00% APY
  • Forbright Bank - 4.00% APY
  • FVCbank - 3.85% APY
  • GO2bank - 4.50% APY
  • High Plains Bank - 0.23-3.82% APY
  • Ivy Bank - 0.05-4.25% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.20-4.20% APY
  • Live Oak Bank - 3.90% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • MutualOne Bank - 4.07% APY
  • My Banking Direct - 4.11% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.50% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.20% APY
  • Peak Bank - 4.20% APY
  • Pibank - 4.60% APY
  • PNC - 3.70% APY
  • Poppy Bank - 4.00% APY
  • Popular Direct - 4.00% APY
  • Presidential Bank - 3.75-4.25% APY
  • Prime Alliance Bank - 3.90% APY
  • Primis Bank - 3.85% APY
  • Quontic Bank - 3.75% APY
  • RBMAX - 3.90% APY
  • Rising Bank - 4.00% APY
  • ROGER - 3.87% APY
  • Salem Five Direct - 3.71% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.01% APY
  • SmartyPig - 3.90% APY
  • SoFi Bank - 4.30% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 3.80% APY
  • TD Bank - 0.05-2.75% APY
  • The State Exchange Bank - 3.96% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 3.51-3.71% APY
  • Upgrade - 3.05% APY
  • Valley Direct - 4.10% APY
  • Varo Bank - 2.50-5.00% APY
  • Vio Bank - 4.21% APY
  • Wealthfront - 3.50-4.15% APY
  • Western Alliance Bank - 4.05% APY
  • Zynlo Bank - 4.20% APY
FeatureWells FargoSelect a bank...
ProductN/A
APY
0.05% - 0.05% (as of 11/12/2025)N/A
Bundled Account
YesN/A
FDIC-insured
YesN/A
Online OnlyNoN/A
Compound Frequency
DailyN/A
Minimum Deposit$25N/A
Minimum Balance for APY$1,000,000N/A
Maintenance Fee$12. Waived with $3,500 minimum daily balance.N/A
Direct Deposit Required
NoN/A
NoteThis is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details.N/A

Bank-to-Bank Comparisons

Compare Wells Fargo's APY of 0.05% with other banks
Bank PairCompetitor APYMin Deposit
Wells Fargo vs Ally Bank3.30%$0
Wells Fargo vs American Express3.50%$0
Wells Fargo vs Axos Bank4.51%$0
Wells Fargo vs Bank of America0.01%$100
Wells Fargo vs Barclays4.10%$0
Wells Fargo vs Bask Bank3.90%$0
Wells Fargo vs BMO Alto3.25%$0
Wells Fargo vs BrioDirect4.00%$5,000
Wells Fargo vs Capital One3.40%$0
Wells Fargo vs Chase Bank0.01%$0
Wells Fargo vs Chime3.50%$0
Wells Fargo vs CIT Bank3.85%$100
Wells Fargo vs Citibank3.35%$0
Wells Fargo vs Citizens Access™3.35%$0.01
Wells Fargo vs Discover Bank3.40%$0
Wells Fargo vs Elevault4.08%$0
Wells Fargo vs EverBank4.05%$0
Wells Fargo vs Fitness Bank4.75%$100
Wells Fargo vs FNBO Direct3.00%$1
Wells Fargo vs Forbright Bank4.00%$0
Wells Fargo vs FVCbank3.85%$500
Wells Fargo vs GO2bank4.50%$0
Wells Fargo vs Ivy Bank4.25%$2,500
Wells Fargo vs LendingClub4.20%$0
Wells Fargo vs Marcus by Goldman Sachs3.65%$0
Wells Fargo vs Neighbors Bank4.50%$0
Wells Fargo vs Newtek Bank4.35%$0
Wells Fargo vs Openbank4.20%$500
Wells Fargo vs Peak Bank4.20%$100
Wells Fargo vs Pibank4.60%$0
Wells Fargo vs Presidential Bank4.25%$5,000
Wells Fargo vs Quontic Bank3.75%$100
Wells Fargo vs Santander Bank0.01%$25
Wells Fargo vs SoFi Bank4.30%$0
Wells Fargo vs Synchrony Bank3.80%$0
Wells Fargo vs TIMBR4.40%$1,000
Wells Fargo vs UFB Direct3.71%$5000
Wells Fargo vs Valley Direct4.10%$1,000
Wells Fargo vs Varo Bank5.00%$0
Wells Fargo vs Vio Bank4.21%$100
Wells Fargo vs Wealthfront4.15%$0
Wells Fargo vs Zynlo Bank4.20%$10

Alternatives to Wells Fargo

Banks with Higher/Similar Savings APY

For a top list of the highest savings rates, see all HYSA top rates

Zynlo Bank

Tomorrow Savings Account: 4.20% APY

Minimum Deposit: $10

Online Only

Betterment

Cash Reserve: 3.50% APY

Minimum Deposit: $10

Online Only

Forbright Bank

Growth Savings: 4.00% APY

Minimum Deposit: $0

Online Only

Bright Savings: 3.65% APY

Minimum Deposit: $250

Eligible States: Limited (see details)

Sprout Savings: 3.65% APY

Minimum Deposit: $1

Eligible States: Limited (see details)

Pibank

Pibank Savings: 4.60% APY

Minimum Deposit: $0

Online Only

Bank of America

Advantage Savings: 0.01% APY

Minimum Deposit: $100

Bread Savings

High-Yield Savings Account: 4.20% APY

Minimum Deposit: $100

Online Only

Barclays

Tiered Savings: 4.10% APY

Minimum Deposit: $0

Online Only

Online Savings: 3.70% APY

Minimum Deposit: $0

Online Only

Salem Five Direct

eOne Savings: 3.71% APY

Minimum Deposit: $10

Online Only

Jenius Bank

Jenius Savings: 4.20% APY

Minimum Deposit: $0

Online Only

Evergreen Bank Group

High-Yield Online Savings: 4.25% APY (Inactive)

Minimum Deposit: $100

Online Only

Openbank

High-Yield Savings Account: 4.20% APY

Minimum Deposit: $500

Online Only

RBMAX

Max Interest Savings: 3.90% APY

Minimum Deposit: $10

Online Only