Wells Fargo

Last Updated: 7/16/2025

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

Quick Views

Platinum Savings: 0.05% - 2.51% APY(Rank 75 out of 77 tracked HYSAs)

Minimum Deposit: $25 | Bundled Savings & Checking Account

National Savings Interest Rate: 0.38% (as of 6/16/2025)

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.

BBB Rating: F (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

Offers 2.51% APY for balances over $1,000,000.
App Store rating of 4.9.
Google Play rating of 4.8.
Branches and ATMs in 36 states and D.C.

Considerations

BBB rating is F and not accredited.
High minimum balance of $1,000,000 for top APY.
Maintenance fee of $12 unless $3,500 balance is maintained.
Lower APY of 0.05% for balances under $100,000.

Summary: Wells Fargo offers a high-yield savings account with a competitive 2.51% APY for large balances, but requires a hefty minimum deposit of $1,000,000. The bank has strong app ratings, but its F rating from the BBB raises concerns about trustworthiness. Additionally, a $12 maintenance fee applies unless a minimum balance is maintained. Overall, potential savers should weigh the high APY against the significant balance requirements and fees.

Savings Account

Savings Account Offered by Wells Fargo

Feature	Platinum Savings
APY	0.05% - 2.51% (as of 7/16/2025)
APY Trend
Minimum Deposit	$25
Minimum Balance for APY	$1,000,000
FDIC-insured	Yes
Online Only	No
Bundled Account	Yes
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$12. Waived with $3,500 minimum daily balance.
Eligibility	United States
Note	This is a tiered savings account where rates vary based on the balance. The 2.51%% 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.
No deposit agreement summary available for this bank.

Calculate Savings for Wells Fargo

All calculations are based on APY.

Savings Product:

Platinum Savings (APY: 0.05% ⎼ 2.51%)

Initial Deposit:

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

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $0 (0.00%)
Total contributions: $0 (0.00%)
Initial deposit: $100 (100.00%)

Your total balance

$100.00

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

No historical data available.

Compare Wells Fargo's Savings Account

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All America Bank - 1.50-3.25% APY
Ally Bank - 3.50% APY
Amalgamated Bank - 2.25% APY
American Express - 3.60% APY
Axos Bank - 4.66% APY
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BMO Alto - 3.50% APY
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Charles Schwab Bank - 0.15% APY
Chase Bank - 0.01% APY
Chime - 1.25-3.75% APY
CIBC Bank USA - 4.02% APY
CIT Bank - 0.25-4.00% APY
Citibank - 3.50% APY
Citizens Access™ - 3.70% APY
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My Banking Direct - 4.30% APY
MySavingsDirect - 3.75% APY
Neighbors Bank - 4.60% APY
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OMB Bank - 1.00% APY
Openbank - 4.30% APY
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Popular Direct - 4.05% APY
Presidential Bank - 4.00-4.50% APY
Prime Alliance Bank - 4.05% APY
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Rising Bank - 4.30% APY
ROGER - 4.12% APY
Salem Five Direct - 4.01% APY
Sallie Mae Bank - 3.90% APY
Santander Bank - 0.03% APY
SoFi Bank - 3.80% APY
Synchrony Bank - 3.80% APY
TAB Bank - 4.15% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 1.90% APY
TIMBR - 4.40% APY
UFB Direct - 4.01-4.21% APY
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Western Alliance Bank - 4.25% APY
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Feature	Wells Fargo	Select a bank...
Product	Platinum Savings	N/A
APY	0.05% - 2.51% (as of 7/16/2025)	N/A
Bundled Account	Yes	N/A
FDIC-insured	Yes	N/A
Online Only	No	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$25	N/A
Minimum Balance for APY	$1,000,000	N/A
Maintenance Fee	$12. Waived with $3,500 minimum daily balance.	N/A
Direct Deposit Required	No	N/A
Note	This is a tiered savings account where rates vary based on the balance. The 2.51%% 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 2.51% with other banks

Bank Pair	Best APY	Min Deposit
Wells Fargo vs Ally Bank	3.50%	$0
Wells Fargo vs American Express	3.60%	$0
Wells Fargo vs Axos Bank	4.66%	$0
Wells Fargo vs Bank of America	0.01%	$100
Wells Fargo vs Barclays	4.10%	$0
Wells Fargo vs Capital One	3.50%	$0
Wells Fargo vs Chase Bank	0.01%	$0
Wells Fargo vs Chime	3.75%	$0
Wells Fargo vs CIT Bank	4.00%	$100
Wells Fargo vs Discover Bank	3.50%	$0
Wells Fargo vs Fitness Bank	5.00%	$100
Wells Fargo vs Marcus by Goldman Sachs	3.65%	$0
Wells Fargo vs Presidential Bank	4.50%	$5,000
Wells Fargo vs SoFi Bank	3.80%	$0
Wells Fargo vs Synchrony Bank	3.80%	$0
Wells Fargo vs Varo Bank	5.00%	$0