What is the standard interest rate on a savings account

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Savings Rates

Wells Fargo Way2Save® Savings

Avoid the $5 monthly service fee with one of the following each fee period:

• $300 minimum daily balance
• 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account
• 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account
• 1 or more Save As You Go® transfers from a linked Wells Fargo checking account
• Primary account owner is 24 years old or under

Open a Way2Save® Savings account
$25 minimum opening deposit

Platinum Savings - Standard Interest Rate

Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.

Open a Platinum Savings account
$25 minimum opening deposit

CD Rates

Special Fixed Rate CD Rates

Open a Special Fixed Rate CD account
$5,000 minimum opening deposit

Standard Fixed Rate CD Rates

Open a Standard Fixed Rate CD account
$2,500 minimum opening deposit

The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate compounded daily for a 365-day period.

If you receive a periodic statement, that statement will include the Annual Percentage Yield earned (APYE) on your account for the period covered by the statement.

View Wells Fargo Destination® IRA rates

A qualifying Save As You Go transfer is an automatic transfer of $1 from your linked Wells Fargo checking account to your Way2Save Savings account each time you (or any authorized signer or joint owner) use your debit card for a one-time purchase or complete a Bill Pay transaction through online banking, and the one-time debit card purchase or Bill Pay transaction posts to the account. We reserve the right to determine through our sole discretion if a particular transaction is a qualifying transaction.

One partial withdrawal which does not reduce the balance below the minimum opening deposit amount may be made without an Early Withdrawal Penalty within five business days beginning on each of the three days the interest rate increases. If any withdrawal causes the balance to drop below the minimum opening deposit amount, an Early Withdrawal Penalty will be assessed on the entire amount withdrawn. Early withdrawals made on any day other than during the five-day penalty-free withdrawal period beginning on each of the three days the interest rate increases will be subject to an Early Withdrawal Penalty. Withdrawals will reduce earnings. At maturity, the Step Rate CD will automatically renew as a Standard (non-step) 24-month fixed rate CD (Time Account), at the interest rate and APY in effect for CDs not subject to a Special Offer Rate, unless the Bank has notified you otherwise. Public Funds are not eligible for this offer.

Annual Percentage Yield assumes interest remains on deposit until maturity.  Bonus Step Rate CD APY (and interest rate, if shown) is applicable to the initial 24-month term.

This Special Interest Rate ("Special Rate") offer is available only in branches. To qualify, make a single deposit (or transfer) of at least $25,000 new money to Platinum Savings. "New money" is from sources outside your current relationship with Wells Fargo Bank, N.A. or its affiliates (including all deposit, brokerage, loan, and credit accounts) and must be deposited directly to Platinum Savings, or to one of your Wells Fargo accounts in the past 7 days and transferred to Platinum Savings in one transfer. To enroll, speak to a banker and request the Special Rate no more than 7 days after the deposit (or transfer) to Platinum Savings. Enrollment is confirmed by a Special Pricing Interest Rate Receipt. The Special Rate is the same for accounts that earn a Standard Interest Rate or a Relationship Interest Rate. During the Special Rate's promotional period, the account will earn the Special Rate each day it meets the minimum daily balance requirement ("MDB") of $25,000. The account will earn the then-current Standard Interest Rate or Relationship Interest Rate (a) any day it is below the MDB and (b) when the Special Rate expires. If the promotional period is less than 12 months, the Annual Percentage Yield (APY) shown is based on the account earning the Special Rate for the promotional period and the Standard Interest Rate (or Relationship Interest Rate) for the remaining months. We may terminate this offer without notice. To receive the disclosed Relationship APY, the enrolled account must remain linked to an eligible checking account. For details, see Relationship Annual Percentage Yield Disclosure.

When the primary account owner reaches the age of 25, age can no longer be used to avoid the monthly service fee.

The Relationship Interest Rate is variable and subject to change at any time without notice, including setting the interest rate equal to the Standard Interest Rate or to zero (0.00%), which could change the Relationship Annual Percentage Yield (APY). For time accounts, the change will occur upon renewal. To receive the disclosed Relationship Interest Rate/Relationship APY, the eligible account must remain linked to a Prime Checking, Premier Checking or Private Bank Interest Checking account. Time Accounts must be linked at account open and at every renewal. If the checking account is closed for any reason or the eligible savings account or time account is de-linked, the account will revert to the then-current applicable Standard Interest Rate on that date; for time accounts, this change will occur upon renewal. Any Special Interest Rate would not expire until the expiration date of that Special Interest Rate.

Special Interest Rate CDs require a $5,000 minimum opening deposit unless otherwise noted. Public funds are not eligible for these offers. Special Interest Rates are applicable to initial term only. At maturity, Special Interest Rate CDs will automatically renew for the Renewal Term stated above, at the interest rate and Annual Percentage Yield (APY) in effect on the maturity date for CDs not subject to a Special Interest Rate, unless the Bank has notified you otherwise. The Bank may limit the amount you may deposit in this product to an aggregate of $2.5 million.

Standard Interest Rate CDs require a $2,500 minimum opening deposit, unless otherwise noted.

Minimum opening deposit of $25,000 required. New Dollar Special Interest Rates require $25,000 in new money deposited to the account from sources outside of the customer's current relationship with Wells Fargo Bank, N.A., or its affiliates (which includes all deposit, brokerage, loan and credit accounts). Public funds are not eligible for these offers. Special Interest Rate applicable to initial term only. At maturity, time account will automatically renew for the Renewal Term stated above, at the interest rate and Annual Percentage Yield in effect on the maturity date for time accounts not subject to a Special Interest Rate, unless the Bank has notified you otherwise. The Bank may limit the amount you may deposit in this product to an aggregate of $2.5 million.

The interest rates and Annual Percentage Yields displayed here are for the Wells Fargo Bank locations in the California counties of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma.

Current Deposit Rates for 10/01/2022 - 10/07/2022

Savings Accounts:

Annual Percentage Yields (APYs) and Interest Rates shown are offered on accounts accepted by the Bank and effective for the dates shown above, unless otherwise noted. Interest Rates are subject to change without notice. Interest is compounded daily and paid monthly. Interest is calculated and accrued daily based on the daily collected balances in the account. Accrued interest is considered to be earned and will be paid only when the total interest accrued reaches $0.01 or more. In any month the amount of accrued interest is less than $0.01, periodic statements will show no Annual Percentage Yield Earned (APYE) or interest earned though interest is accruing. Interest Rates and APYs for all checking and savings accounts are variable and can be changed by the Bank at any time. Fees could reduce earnings.

The balance tiers for the accounts listed are as follows: $0 to $499.99; $500 to $999.99; $1,000 to $2,499.99; $2,500 to $4,999.99; $5,000 to $9,999.99; $10,000 to $24,999.99; $25,000 to $49,999.99; $50,000 to $99,999.99; $100,000 to $249,999.99; $250,000 to $499,999.99; $500,000 to $999,999.99; $1,000,000 or more. Wells Fargo interest rates offered within two or more consecutive tiers may be the same. When this is the case, multiple tiers may show as a single tier. Each tier shown reflects the current minimum daily collected balance required to obtain the applicable APY.

A copy of the then-current rate sheet will be provided to you before you open your account or is available at any time upon request from a banker.

CD Accounts:

Annual Percentage Yields (APYs) and Interest Rates shown are offered on accounts accepted by the Bank and effective for the dates shown above, unless otherwise noted. Interest Rates are subject to change without notice.

CD rates are fixed for the term of the account. A penalty may be imposed for early withdrawal from a CD. For CDs, interest begins to accrue on the business day you deposit non-cash items, such as checks. Penalties – including early withdrawal penalties – could reduce earnings.

Interest is compounded daily. Payment of interest on Standard CDs is based on term:

• For terms less than 12 months (365 days), interest may be paid monthly, quarterly, semi-annually, or at maturity (the end of the term).
• For terms of 12 months or more, interest may be paid monthly, quarterly, semi-annually, or annually.

CD rates are subject to change at any time and are not guaranteed until the CD is opened.

Early withdrawal(s) may be subject to either the Regulation D Penalty or the early withdrawal penalty. Some exceptions may apply.

The Regulation D Penalty is seven days' simple interest on the amount withdrawn and applies to:

• Withdrawals made within seven days of account opening including the day the account was opened.
• Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured CD balance.
• Withdrawals within seven days of any prior withdrawal where the Bank's early withdrawal penalty is not applied.
  

Other than the Regulation D penalty described above, any money withdrawn from the CD before the end of its term will be subject to an early withdrawal penalty based on the length of the CD term. If your term is:

• Less than 90 days (or less than 3 months), the penalty is 1 month's interest,
• 90 through 365 days (or 3-12 months), the penalty is 3 months' interest,
• Over 12 months through 24 months, the penalty is 6 months' interest, or
• Over 24 months, the penalty is 12 months' interest.

Wells Fargo Bank, N.A. Member FDIC.

QSR-0722-01428

LRC-0621

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