Wells Fargo CD Rates Bulletin
Wells Fargo Bank offers a number of savings products for its customers and out of these products, the certificate of deposits (CDs) are very popular. The CDs offered by Wells Fargo have numerous term deposit periods and their interest rate compounds daily. The minimum deposit amount is $2,500 for a term period of less than 1 year and $5,000 for a term period of more than one year. This is a great feature because it can mean more money by way of interest to the investors. The bank imposes a certain amount as withdrawal fees, if the amount is withdrawn before the end of the term period. The minimum amount of withdrawal fees is $25 and the actual amount depends on the term period. For a 3-month term or less, the fees is one month’s interest while for a 3-12 month term, it is three months’ interest. It is six month’s interest for a term exceeding twelve months. Due to this high amount of withdrawal fees, it is a good idea to exercise diligence while investing in the CDs.
The Wells Fargo CD rates for a 3-month term is 0.10% for a deposit amount of $10,000 or more and 0.05% for a deposit amount of $2,500. The Wells Fargo Bank CD rates for a 6-month term is 0.15% for a deposit amount of $2500 or $10,000 and 0.20% for a deposit amount of $100,000. The Wells Fargo certificate of deposit rates for a 1-year period is 0.25% for an amount of $2500 and 0.30% for $10,000 or $100,000. The Wells Fargo interest rates is 0.55% for 15 months, 0.90% for 21 months, 1.40% for 28 months and 1.90% for 35 months respectively. These rates and the flexible periods make the CDs very popular.
