editorial integrity, this post may contain references to products from our partners. Rate; Wells Fargo Savings Account: 0.01%: Compare Saving rates in United States . A Red Ventures company. CDs are also known as Time Accounts because of the fixed term. Wellstrade retirement account annual, maintenance, inactivity, and termination charges schedule. 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. Wells Fargo doesn’t have branches in … Use your savings account to protect your Wells Fargo checking account from overdraft charges. NMLSR ID 399801. With a higher APY, you can reach your savings goals faster. That rate applies to all balances. The online tool My Savings Plan® for Wells Fargo savings customers helps you plan, monitor, and save to reach your financial goals. 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. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. "New money" is money from sources outside of the customer's relationship with Wells Fargo … Open a new eligible Wells Fargo savings account in branch with a minimum opening deposit of $25. Wells Fargo adheres to its own proprietary index called the Wells Fargo Cost of Savings Index (Wells COSI). 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. The standard rates require you to deposit $2,500. See the Consumer Account Fee and Information Schedule and Deposit Account Agreement for additional consumer account information. We maintain a firewall between our advertisers and our editorial team. 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 bank also offers certificates of deposit (CDs), though their rates are significantly lower compared to those from other big-name competitors. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Daily: Achieve your saving goals with as little as $1 a … With a minimum deposit of $25, you’ll get an interest rate of up to 0.06%. Wells Fargo offers low CD rates and high minimums, and there aren’t many terms to choose from online. $25. Your account safety has been a top priority for more than 160 years. 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. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. As a traditional bank, Wells Fargo offers rates on savings that are typical of what you'd expect. Our experts have been helping you master your money for over four decades. Wells Fargo offers special and standard rate CDs. Business Platinum Savings. Wells Fargo Bank Platinum Savings Account charges $5 every time you request a paper statement. 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. Use offer code when opening account. Bankrate has answers. The bank slightly edges Wells Fargo out when it comes to fees, saving you … Award winning banks with nation leading rates. 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. 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. 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 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. The standard APY for a Wells Fargo savings … The exact rate you get depends on the specific type of account, how much money you have in it, and so on. Find an ATM or banking location near you. You can earn a higher APY on the Platinum Savings account if you also have (and link) a Portfolio by Wells Fargo account. All rights reserved. Salem Five Direct, Vio Bank and Live Oak Bank are among the banks offering some of the highest rates. Rates range from 0.05% APY for a three-month CD to 1.05% APY for a 58-month term. 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. Wells Fargo helps its customers plan for the future by arranging monthly automatic transfers from a checking account to a savings account. Our editorial team does not receive direct compensation from our advertisers. Avoid the monthly service fee when you maintain a $3,500 minimum daily balance each fee period. Wells Fargo offers customers savings account options for different stages of their lives. Contributions are invested in FDIC-insured deposits. Interest rates on most Wells Fargo … Learn More. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. SuperMoney Disclosure : SuperMoney.com is an independent, advertising-supported service. Limited branch locations. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. With a minimum deposit of $25, you’ll get an interest rate of 0.03%. Maintain a minimum daily balance of at least $15,000 for 90 days from account opening. Which certificate of deposit account is best? Wells Fargo Bank IRA Rates Wells Fargo Bank offers a selection of IRA’s, including Roth and Traditional varieties. You have money questions. Overall, the yields offered by the big bank leave something to be desired. Checking Accounts; Savings Accounts and CDs ... Reach your financial goals with a savings account Start Now. Money … Chase may be better than Wells Fargo when you’re on a tight budget. We're sorry, but some features of our site require JavaScript. Make an online bill pay transaction using Wells Fargo Online ® Bill Pay. Track spending, devise budget goals, set up account alerts, and efficiently manage monthly expenses online with Budget Watch. Otherwise, the rate is 0.03%, which is far lower than other savings products. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Commit to saving your money for the longer term and you can earn better interest rates with Wells Fargo CD. Monthly: Save on a monthly basis. View all savings accounts and CDs. how we make money. Cons. Bankrate.com does not include all companies or all available products. Minimum opening deposit. Deposit at least $15,000 in new money within 10 days of account opening. 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. 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. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. The Platinum Savings account offers Wells Fargo highest savings rates … Jumbo mortgages are essentially the same as normal mortgages, only they’re for larger amounts of money. You only need $25 to open a savings account with Wells Fargo. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access The rates offered by Wells Fargo’s savings account are next to nothing and lower than the national average. 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). Great way to save automatically and build your savings. Set up a monthly automatic transfer of at least $25 from your Wells Fargo checking account to your Way2Save Savings account. Wells Fargo customers get access to financial goal tracking tools, a personalized budgeting program and free financial education. Navegó a una página que no está disponible en español en este momento. Does Wells Fargo offer savings for businesses? Note: The APYs (Annual Percentage Yield) shown are as of Dec. 18, 2020. Savings account Interest Rate APY Balance Minimum opening deposit; Wells Fargo … 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. Helping you save Automatic transfers with a Way2Save ® savings account. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. But this compensation does not influence the information we publish, or the reviews that you see on this site. No two people are alike — and neither are the services of competing banks. All Rights Reserved. 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. New offers haven’t yet been announced. 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