Business Platinum Savings. On the other hand, the savings accounts are easily accessible online and at branches. Monthly: Save on a monthly basis. Salem Five Direct, Vio Bank and Live Oak Bank are among the banks offering some of the highest rates. The bank slightly edges Wells Fargo out when it comes to fees, saving you … Limited branch locations. Wells Fargo CD interest rates aren't incredibly competitive, but if you have a Wells Fargo investment account, you'll get better rates than most other Wells Fargo … Helping you save Automatic transfers with a Way2Save ® savings account. We are unable to contact you about your comments. A Red Ventures company. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. New offers haven’t yet been announced. Savings tools. As you might expect, Wells Fargo’s 7/1 ARM has an initial payment period of seven years, while the opening term for the 5/1 ARM lasts five years. Please enable JavaScript on your browser and refresh the page. See how they compare with other banks. CDs are also known as Time Accounts because of the fixed term. Wells Fargo Bank Money Market Account Rates and Terms Rates The bank offers a range of CDs to help you meet your goals. If the limit is exceeded on more than an occasional basis, your savings account could be converted to a checking account or closed, which would discontinue any Overdraft Protection it might be providing to another account. The Platinum Savings account offers Wells Fargo highest savings rates … Check Rates. Low opening deposits. No two people are alike — and neither are the services of competing banks. You may enroll in the Special Rate offer only during the effective dates noted on the Business Checking and Savings Accounts rate sheet. Bankrate has answers. Regulation D and Wells Fargo limit certain types of withdrawals and transfers from a savings account to a combined total of six per monthly fee period. Wells Fargo customers get access to financial goal tracking tools, a personalized budgeting program and free financial education. Wells Fargo offers its personal banking customers 2 types of savings accounts: the Way2Save Savings account and the Platinum Savings account. Note: Cookies must be enabled in your browser settings. Wells Fargo Bank Platinum Savings Account charges $5 every time you request a paper statement. Although Wells Fargo is an easily recognizable financial institution, many other banks offer higher interest rates. View all savings accounts and CDs. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access Make an online bill pay transaction using Wells Fargo Online ® Bill Pay. Use your savings account to protect your Wells Fargo checking account from overdraft charges. Wells Fargo continues to work to protect your financial information with proven security methods. Let’s take a closer look at the savings account options in the chart below. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. Does Wells Fargo offer savings for businesses? Rates range from 0.05% APY for a three-month CD to 1.05% APY for a 58-month term. You can earn a higher APY on the Platinum Savings account if you also have (and link) a Portfolio by Wells Fargo account. Selecione Cancele para permanecer en esta página o Continúe para ver nuestra página principal en español. Wells Fargo offers customers savings account options for different stages of their lives. © 1999 - 2021 Wells Fargo. Successful enrollment is confirmed via a Special Pricing Interest Rate Receipt. Contributions are invested in FDIC-insured deposits. Wells Fargo offers two types of IRA savings accounts — one meant for those just starting out in their retirement savings, and the other for those who want a higher rate. Banking. Information on Wells Fargo Savings Account Interest Rates: While a savings account is a common product that is issued by banks, the Interest rate and annual percentage yield on this product can vary from bank to bank. Review your FICO ® Credit Score For eligible Wells Fargo customers. Jumbo mortgages are essentially the same as normal mortgages, only they’re for larger amounts of money. Accounts and Services . But this compensation does not influence the information we publish, or the reviews that you see on this site. The bank also offers certificates of deposit (CDs), though their rates are significantly lower compared to those from other big-name competitors. Bankrate.com is an independent, advertising-supported publisher and comparison service. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Let’s talk about your options. We cannot address customer service questions here. The Wells Fargo savings account interest rate is 0.01% for its Way2Save product. We value your trust. Wells Fargo offers business savings accounts and CDs that include: Business Market Rate Savings. Money … Overdraft protection. $25. Our experts have been helping you master your money for over four decades. For specific account-related questions or comments, please visit Customer Service. 2021 Wells Fargo bank CD/Savings rates and fees on ROTH IRA, Sep/Simple IRA, 401k Rollover and Traditional IRA accounts. If you are interested in growing your money beyond a savings account, you have plenty of other options with Wells Fargo. Maintain a minimum daily balance of at least $15,000 for 90 days from account opening. Subject to applicable Overdraft Protection transfer fees and account eligibility requirements. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Otherwise, the rate is 0.03%, which is far lower than other savings products. Questions about an old 401(k)? The online tool My Savings Plan® for Wells Fargo savings customers helps you plan, monitor, and save to reach your financial goals. The Wells Fargo savings account fees with Way2Save are $5 per month unless you meet one of three conditions — maintain a minimum daily balance of $300, utilize one of the recurring savings tools, or are under the age of 18 or 19 in Alabama. SuperMoney Disclosure : SuperMoney.com is an independent, advertising-supported service. Passive income ideas to help you make money, Best age for Social Security retirement benefits, many other banks offer higher interest rates, Privacy policy / California privacy policy. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. Which certificate of deposit account is best? This compensation may impact how, where and in what order products appear. If the limit is exceeded, an excess activity fee for each transfer or withdrawal over the limit will be assessed. Keep in mind that Wells Fargo CD rates will differ depending on where you live. With a higher APY, you can reach your savings goals faster. Compare Wells Fargo's Savings Account Rates - July 2020. Wells Fargo savings account bonuses to new account holders have been fairly generous in the past, but the 2020 offers expired at the end of July. Please do not enter any personal or account information in this box. Award winning banks with nation leading rates. The highest APY of 0.40% is only available if the account remains linked to a Portfolio by Wells Fargo relationship. Wells Fargo offers numerous financial products and services, including savings and checking accounts, insurance and investment products. Bankrate.com does not include all companies or all available products. Cons. Please enter a valid zip code to see products available for your area, Consumer Account Fee and Information Schedule and Deposit Account Agreement, Monthly automatic transfer option to reach your savings goals, An automatic transfer of $25 or more from your checking account into this account, An automatic transfer of $1 or more each business day from your checking account into this account, Are under the age of 18 (19 in AL) and are the primary owner of this account, Unlimited branch and ATM withdrawals and the option to write checks, FDIC-insured up to the maximum applicable limits, CDs may pay higher interest rates than other deposit products, Make an online bill pay transaction using. Wells Fargo helps its customers plan for the future by arranging monthly automatic transfers from a checking account to a savings account. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. how we make money. Save As You Go ® transfer option: We’ll automatically transfer $1 of your funds from your linked Wells Fargo checking account to your Way2Save Savings account for … So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. You have money questions. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. This index is specific to the Wells Fargo banking group and is a weighted average of the relevant deposits. Our goal is to give you the best advice to help you make smart personal finance decisions. We regularly gather rates from over 4,800 banks and credit unions in every major market in the USA to give you the best choice of rates. There is a maximum of three excess activity fees per monthly fee period. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. … Way2Save ® Savings. We’ll transfer $1 of your funds from your linked Wells Fargo checking account to your Way2Save® Savings account every time you: Our products and services may vary by location, and a ZIP Code helps us provide accurate information. Wells Fargo earned 2.5 out of 5 stars in Bankrate’s review across its deposit products. The Way2Save account earns a 0.01% APY. The Cost of Savings Index is based upon the interest rates paid by Wells Fargo’s banks on certificates of deposits held by individual depositors as of the last business day of each month. 1-800-869-3557. Automatic transfers. Great way to save automatically and build your savings. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. The standard APY for a Wells Fargo savings … Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Rate; Wells Fargo Savings Account: 0.01%: Compare Saving rates in United States . The exact rate you get depends on the specific type of account, how much money you have in it, and so on. The standard rates require you to deposit $2,500. The rates offered by Wells Fargo’s savings account are next to nothing and lower than the national average. Not valid for Business Banking or Wholesale customers; these customers should contact their Relationship Manager. The APYs for some products may vary by region. Open Now. Suggested for you. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. Here’s an explanation for "New money" is money from sources outside of the customer's relationship with Wells Fargo … It can be difficult to justify stashing your savings in an account that is only offering you 0.01 percent APY when there are other options that pay you significantly more. View all rates. Wells Fargo has more branches than any other bank in the U.S. and its mobile app has earned favorable reviews in the app stores. Our editorial team does not receive direct compensation from our advertisers. We do not include the universe of companies or financial offers that may be available to you. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Minimum opening deposit. Commit to saving your money for the longer term and you can earn better interest rates with Wells Fargo CD. All CDs, Savings, and MMAS on our site are insured by the FDIC (banks) or the NCUA (credit unions). All Rights Reserved. Savings account Interest Rate APY Balance Minimum opening deposit; Wells Fargo … Use offer code when opening account. Your account safety has been a top priority for more than 160 years. While we adhere to strict This can also vary amongst other banking products such as money market accounts and certificates of deposit. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. As a traditional bank, Wells Fargo offers rates on savings that are typical of what you'd expect. We maintain a firewall between our advertisers and our editorial team. Get insider access to our best financial tools and content. Navegó a una página que no está disponible en español en este momento. You can earn a higher APY on the Platinum Savings account if you also have (and link) a Portfolio by Wells Fargo account. With a minimum deposit of $25, you’ll get an interest rate of up to 0.06%. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Avoid the monthly service fee with one of the following each fee period: Convenient access and security for your higher balances. Business Time Accounts (CDs). Therefore, this compensation may impact how, where and in what order products appear within listing categories. NMLSR ID 399801. That rate applies to all balances. Account holders can also elect to make automatic deposits and adjust to a schedule of your choosing. Bankrate.com is an independent, advertising-supported publisher and comparison service. Features. Wells Fargo Bank IRA Rates Wells Fargo Bank offers a selection of IRA’s, including Roth and Traditional varieties. We are an independent, advertising-supported comparison service. Wells Fargo Bank Money Market Account offers an APY starting at 0.01% (APY stands for annual percentage yield, rates may change). The special rates require you to deposit at least $5,000. With a minimum deposit of $25, you’ll get an interest rate of 0.03%. You can find much higher APYs elsewhere. Savings account options come with minimal interest rates on basic savings, retirement savings, and even retirement savings accounts. Please refer to the Consumer Account Fee and Information Schedule and Deposit Account Agreement for details. The Way2Save account earns a 0.01% APY. We may terminate this offer without notice. Daily: Achieve your saving goals with as little as $1 a … Wells Fargo bankers can help you with your financial goals, whether you’re managing your credit, exploring investing, preparing for homeownership, saving for college, or planning for retirement. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. © 2021 Bankrate, LLC. editorial integrity, this post may contain references to products from our partners. Learn More. Wells Fargo adheres to its own proprietary index called the Wells Fargo Cost of Savings Index (Wells COSI). Successful enrollment is confirmed via a Special Pricing Interest Rate Receipt. Avoid the monthly service fee when you maintain a $3,500 minimum daily balance each fee period. Track spending, devise budget goals, set up account alerts, and efficiently manage monthly expenses online with Budget Watch. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. At Bankrate we strive to help you make smarter financial decisions. You only need $25 to open a savings account with Wells Fargo. To earn the Special Interest Rate ("Special Rate"), you must (i) enroll a Platinum Savings Account in this offer by speaking to a banker and requesting the Special Rate; (ii) deposit $25,000 or more in new money to the enrolled account; and (iii) maintain a minimum daily balance of $25,000 in the enrolled account. Wells Fargo Rate: Checking: 0.01% APY: 0.01% APY: Savings: 0.01% APY: 0.01%-0.02% APY: CD Rates: 0.01%-0.05% APY: 0.01%-0.04% APY: Is Chase Better Than Wells Fargo? Wellstrade retirement account annual, maintenance, inactivity, and termination charges schedule. "New money" is money from sources outside of the customer's relationship with Wells Fargo … Bankrate’s editorial team writes on behalf of YOU – the reader. Great way to save automatically and build your savings. Seleccione el enlace si desea ver otro contenido en español. The Retirement High Yield account offers tiered rates, though you’ll only see a rate increase if you have a balance of $100,000 or more. Account Name Rate; Goldman Sachs Bank Online Savings Account: 2.15%: PNC Money Market Account: 2.00%: Ally Bank Savings Account: 1.90%: Wells Fargo Discussion. Wells Fargo offers low CD rates and high minimums, and there aren’t many terms to choose from online. Unlike some savings accounts, the Wells Fargo Way2Save program has a low $25 minimum deposit to get started. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Find an ATM or banking location near you. For existing accountholders or questions: Chase may be better than Wells Fargo when you’re on a tight budget. You can also find retirement accounts to help you work toward your long-term savings goals. Interest rates on most Wells Fargo … To earn the Special Interest Rate ("Special Rate"), you must (i) enroll a Platinum Savings Account in this offer by speaking to a banker and requesting the Special Rate; (ii) deposit $25,000 or more in new money to the enrolled account; and (iii) maintain a minimum daily balance of $25,000 in the enrolled account. The offers that appear on this site are from companies that compensate us. See the Consumer Account Fee and Information Schedule and Deposit Account Agreement for additional consumer account information. The bank pushes its student checking account in a combo package with its savings account to encourage saving, and Wells Fargo partners with colleges to provide students the ability to use its debit card for both on and off campus transactions. Set up a monthly automatic transfer of at least $25 from your Wells Fargo checking account to your Way2Save Savings account. On the account owner's 18th (19th in AL) birthday, this account is automatically subject to the monthly service fee then in effect for the Wells Fargo Way2Save Savings account. Deposit at least $15,000 in new money within 10 days of account opening. Wells Fargo offers special and standard rate CDs. Wells Fargo doesn’t have branches in … Checking Accounts; Savings Accounts and CDs ... Reach your financial goals with a savings account Start Now. We're sorry, but some features of our site require JavaScript. Low rates. Features of the Way2Save Savings product include: transfers of $1 from your Wells Fargo checking account to your Way2Save Savings account for every qualifying transaction, the ability to set up monthly automatic transfers of $25+ and overdraft protection. All rights reserved. That’s below the national average of 0.05% , and significantly worse than … Note: The APYs (Annual Percentage Yield) shown are as of Dec. 18, 2020. If you choose not to enter a ZIP Code you’ll be redirected to our home page. What is Wells Fargo savings account interest rate? Overall, the yields offered by the big bank leave something to be desired. Open a new eligible Wells Fargo savings account in branch with a minimum opening deposit of $25. Fargo Way2Save program has a low $ 25, you ’ re for amounts! Offering some of the fixed term may contain references to products from our advertisers this website in place to the. 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