Wells Fargo Savings Account Rates

It has been a while since we here at Savings Account Rates Info have look at what is offered for savings account rates at Wells Fargo Bank.  So we thought we’d have a look and give you an update on the high yield savings accounts available there.

Currently, there are three options for Wells Fargo savings account rates.

The standard savings accounts, called “Goal Savings” are giving a 0.05% annual percentage yield (APY).  These accounts require a $100 minimum opening deposit and $300 monthly balance to avoid fees, or an opening deposit of $25 with at least $25/month in balance transfers to the account (automatic), and a $3 fee if these terms aren’t met.

The next option is the Money Market Savings Account, which is a more high yield savings accounts option with a 0.15% APY on a $3,500 minimum daily balance and attached checking account.  No fees are levied if the minimum balance or a $75 automatic balance transfer is in place.

For a high yield online savings account at Wells Fargo, you’ll need a higher balance.  This account yields 0.55% APY on balances over $25,000 with no fees (otherwise $25/month in fees and a lower yield of 0.15% APY).  This is the bst offer for high yield online savings accounts at Wells Fargo.

A quick look at certificate of deposit rates shows that Wells Fargo savings account rates aren’t comparable to the higher-yield special offers of up to 1.90% APY on certificates of deposit.  Of course, these require locked-in terms with withdrawal penalties, but are worth comparing at least.

Wells Fargo Banks is, of course, fully FDIC insured.

Comments are closed.