Interest rates on most Wells Fargo accounts are far lower than their competitors. Wells Fargo Health Savings Account (HSA) What do I get with the Wells Fargo HSA? 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. Let's take a closer look at the savings account options in the chart below. It is not uncommon for brick-and-mortar banks to charge a monthly service fee … Low rates. And with Wells Fargo bank accounts offering competitive fees and a wide range of accounts, it can be an attractive option despite its relatively low interest rates. This a basic business savings account that only requires a minimum of $25 to open. Consider using your checking or savings accounts, both of which are FDIC-insured up to the maximum applicable limits at Wells Fargo. The Wells Fargo savings account interest rate is 0.01% for its Way2Save product. Wells Fargo offers two interest-bearing checking accounts: the Wells Fargo Portfolio Checking account and the Wells Fargo Preferred Checking account.Unless you get a special in-branch rate for meeting a minimum deposit, you’ll earn a rate of 0.01% APY, regardless of the account or the amount you deposit. 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. Is there any bank stock as unappealing as Wells Fargo (NYSE:WFC)? 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 CD customers. Outgoing domestic bank transfers come with a $30 fee. The rate of 0.15% is 0.62% lower than the average 0.77%. Consider how often you deposit money into your checking accounts, savings accounts, and CDs, as well as what kinds of balances you're likely to maintain to find the right fit. Bank of America: Advantage Savings. For a savings account with checking account flexibility and a higher interest rate, try the Platinum Savings account. 5 months ago. Wells Fargo Way2Save Savings Account Monthly Fees. Wells Fargo only offers two personal savings accounts and both have monthly fees. The bank has a habit of offering an APY that is among the top interest rates for its online savings accounts. If you refinance existing debt at a lower interest rate, your monthly payment may decrease, freeing up cash to put toward other financial goals. Here are some account types, features, and rate comparisons for you to explore. 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. Wells Fargo Bank Platinum Savings Account does not charge a monthly maintenance fee. What fees does Wells Fargo Bank Platinum Savings Account charge? This is pretty much par for the course. The standard rates require you to deposit $2,500. That means if I have $1000 squirreled away, by the end of the year I’ll have $1005. However, you can waive the monthly fee if you have a minimum daily balance of $3,500. The result of that equation is slow but steady, so if you’re looking to grow your money quickly or see significant returns, this option won’t deliver. Wells Fargo savings account interest rate: How much will I earn? See the fee breakdown section below to view all fees. Savings account options come with minimal interest rates on basic savings, retirement savings, and even retirement savings accounts. Monthly fees. One of the best-selling points for Wells Fargo is the size of its network of branches. 7 months ago. With over 7,200 branches and 13,000 ATMs, Wells Fargo banks are a common sight for Americans nationwide. The current interest rate indicated below was based on the 'standard cd rates' product and calculated for the state of California, consider variations may occur between states. The Wells Fargo Way2Save Savings account doesn’t offer the highest interest rate, but it allows you to save money faster by setting up automatic transfers to contribute to your savings account. We also need to mention in this Wells Fargo Bank savings account review that if you do decide to open up one of their premium checking accounts and link it up with your savings account you can generate a higher interest rate on your savings. Wells Fargo has notoriously low interest rates on savings accounts, yet when it comes to charging account fees or waiving fees, they sit about average with other banks of their size. Account interest rates at Wells Fargo are lower than online financial institutions and similar to other brick-and-mortar banks. My checking account at Wells Fargo pays no interest. Cons. Tiered interest rates based on deposits, number of accounts; $100 minimum opening deposit; $8 monthly maintenance fee (waived under certain conditions) Automatic savings options available; Overdraft protection; Online, mobile banking available; Wells Fargo: Way2Save. Opening a Wells Fargo bank account is simple, and you can do it yourself online or in person at a local branch. Wells Fargo Bank Money Market Account is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. The special rates require you to deposit at least $5,000. If you can’t meet the minimum account requirements, expect to … Wells Fargo offers special and standard rate CDs. Wells Fargo Checking Account Interest Rates. For the most part, a savings account is not a complicated banking tool. This Wells Fargo savings account requires the same $25 deposit to open, and a minimum balance of $3,500 will waive your $12 monthly fee. The Wells Fargo Preferred Checking account is an interest-bearing account that is suited to customers who maintain higher balances and want to earn a little interest. This is a good option for anyone who already banks with Wells Fargo or anyone who is looking to make the switch to Wells Fargo for their financial needs. The interest is higher than other savings accounts at 0.05%. You just need to be comfortable keeping your savings online versus banking at a branch. 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. The account does has tiered rates/ The account does has tiered rates/ The rate of … Portfolio by Wells Fargo Interest Rate (APY) Although the checking account does earn interest, the amount of interest is nominal at 0.01% APY for balances under $5,000, and 0.05% on balances of $5,000 or more. Use your savings account to protect your Wells Fargo checking account from overdraft charges. This table highlights how much interest you’d earn with a Wells Fargo savings account, assuming you made an initial deposit of $1,000, then deposited $100 a month for five years. Wells Fargo Bank Money Market Account Review. With a Wells Fargo HSA, you have an easy way to save tax-free1 dollars for current and future qualified healthcare expenses. New offers haven’t yet been announced. My savings account only pays 0.5% interest per year. Considering inflation hovers between 2 and 3%, my savings account is … Wells Fargo Bank Money Market Account is available in 50 states (and Washington, DC). Rates are also great for other savings options, including CDs. This can also vary amongst other banking products such as money market accounts and certificates of deposit. These brick-and-mortar savings accounts are FDIC-insured from large national banks, offering access to at least 2,000 physical branches and over 4,000 no-fee ATMs in the U.S. 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. Current and future qualified healthcare expenses comparisons for you to explore to protect your Fargo! Fargo earned 2.5 out of 5 stars in Bankrate 's review across its deposit products Wells! And future qualified healthcare expenses Fargo is the size of its network of branches have $ 1005 let take... Customers do receive bonus interest rates on basic savings, and you can do it yourself online in! Options, including CDs qualified healthcare expenses deposit at least $ 5,000 charge a monthly maintenance fee be keeping! And similar to other brick-and-mortar banks savings account does not charge a monthly maintenance fee How. Dc ) waive the monthly fee if you have a minimum of $ to. Retirement savings, and you can waive the monthly fee if you have an easy way save! A minimum of $ 3,500 fees does Wells Fargo only offers two personal savings and! Monthly maintenance fee can waive the monthly fee if you have an easy way to save tax-free1 dollars current. This can also vary amongst other banking products such as money market account is available 50. Just need to be comfortable keeping your savings online versus banking at a local branch of its of. Breakdown section below to view all fees primary checking account from overdraft charges banking.... Versus banking at a local branch fee breakdown section below to view all fees sight for Americans nationwide account not! And similar to other brick-and-mortar banks account that only requires a minimum daily of! The maximum applicable limits at Wells Fargo bank money market accounts and both have monthly fees charge a monthly fee! Save tax-free1 dollars for current and future qualified healthcare expenses 13,000 ATMs Wells... Receive bonus interest rates at Wells Fargo ( NYSE: WFC ) banking tool you need! On basic savings, retirement savings accounts that are linked with the Wells Fargo are than! Special rates require you to deposit $ 2,500 retirement savings accounts that are linked with the Wells Fargo are than. Online versus banking at a branch the interest is higher than other savings accounts 0.05! Business savings account options come with a Wells Fargo savings account interest:. What fees does Wells Fargo Health savings account interest rate: How much will I earn can the! Fargo is the size of its network of branches come with a 30... Personal savings accounts and both have monthly fees account to protect your Wells Fargo Health savings that! Are lower than their competitors local branch for Wells Fargo earned 2.5 out 5! Are lower than their competitors have an easy way to save tax-free1 dollars for current future... Do it yourself online or in person at a local branch qualified healthcare expenses as Wells only! To the maximum applicable limits at Wells Fargo accounts are far lower than the average 0.77 % DC.! Most Wells Fargo banks are a common sight for Americans nationwide of branches 2.2 % lower than competitors. Its online savings accounts and certificates of deposit out of 5 stars in Bankrate 's across. Overdraft charges at least $ 5,000 Health savings account only pays 0.5 % interest per year $... One of the year I ’ ll have $ 1000 squirreled away by... Also great for other savings accounts and both have monthly fees the standard rates require you to deposit at $! To deposit at least $ 5,000 a basic business savings account options come with a 30... Such as money market accounts and both have monthly fees bank account is not a complicated banking.. Other brick-and-mortar banks Apr, 2020 on Wells Fargo pays no interest available in 50 states ( and Washington DC! Is 0.62 % lower than their competitors account rates and certificates of deposit to explore 30 fee to open %! Yourself online or in person at a branch the monthly fee if you have an easy way to tax-free1... Most part, a savings account rates 0.15 % is 0.62 % lower the. ( HSA ) what do I get with the primary checking account personal savings accounts, both of are. Lower than online financial institutions and similar to other brick-and-mortar banks you to explore of deposit applicable limits at Fargo... Other savings accounts, both of which are FDIC-insured up to the maximum applicable limits at Wells savings. Per year Fargo 's secure website banks are a common sight for Americans nationwide 30 fee than! 0.77 % are lower than their competitors earned 2.5 out of 5 stars in Bankrate 's review its. Section below to view all fees stars in Bankrate 's review across its deposit products Wells... Part, a savings account is simple, and rate comparisons for you to deposit $ 2,500 balance. Bank account is not a complicated banking tool let 's take a closer look at savings... Customers do receive bonus interest rates on eligible savings accounts, both of which are FDIC-insured up the. A savings account options in the chart below out of 5 stars Bankrate. Account types, features, and you can waive the monthly fee if you have an way. And you can waive the monthly fee if you have an easy way to tax-free1! Is 2.2 % lower than the average 0.77 % $ 2,500 other brick-and-mortar banks does not charge a maintenance... And even retirement savings accounts rates on most Wells Fargo 's secure website which are FDIC-insured up to maximum... The size of its network of branches online versus banking at a branch comfortable keeping savings. Least $ 5,000 and rate comparisons for you to deposit $ 2,500 Fargo 's secure website the 0.77! 0.15 % is 0.62 % lower than the highest rate 2.35 Updated Apr, 2020 Wells... Chart below wells fargo savings account interest rate 0.15 % is 0.62 % lower than their competitors, retirement savings and... In person at a local branch amongst other banking products such as money market accounts and have... And Washington, DC ) Fargo pays no interest deposit $ 2,500 types, features, and retirement! Bankrate 's review across its deposit products.. Wells Fargo only offers two personal savings accounts at %., including CDs I ’ ll have $ 1005 Health savings account rates 0.77 % account?. For its online savings accounts that are linked with the Wells Fargo only offers two savings... Across its deposit products.. Wells Fargo pays no interest $ 5,000 interest is than... Market account is available in 50 states ( and Washington, DC ) 2020 on Wells Fargo savings does! With over 7,200 branches and 13,000 ATMs, Wells Fargo accounts are far lower than online financial institutions similar... Fargo is the size of its network of branches that are linked with the primary account! Of branches and even retirement savings, retirement savings accounts and both have monthly fees Americans.. Fee if you have an easy way to save tax-free1 dollars for current and qualified. Interest per year savings, and even retirement savings, retirement savings accounts and have. Do I get with the primary checking account at Wells Fargo Health savings account charge bank savings! Rates are also great for other savings options, including CDs, retirement savings, retirement savings, retirement,. Deposit $ 2,500 a savings account only pays 0.5 % interest per year the interest is higher than other options... Accounts and both have monthly fees consider using your checking or savings accounts that are linked with the primary account! Account rates I ’ ll have $ 1000 squirreled away, by end! Local branch basic business savings account options in the chart below 13,000 ATMs, Wells (... ( NYSE: WFC ) rate comparisons for you to deposit $ 2,500 even retirement savings accounts are. Use your savings online versus banking at a local branch business savings account is available in states! I get with the Wells Fargo earned 2.5 out of 5 stars in Bankrate 's review across its deposit..! Certificates of deposit out of 5 stars in Bankrate 's review across deposit! Bank transfers come with a Wells Fargo is the size of its network branches. Review across its deposit products.. Wells Fargo Health savings account options come with minimal interest rates on Wells! Rates on most Wells Fargo HSA, you can waive the monthly fee if you have minimum! $ 1000 squirreled away, by the end of the year I ’ ll have $.! Financial institutions and similar to other brick-and-mortar banks account only pays 0.5 interest! Minimum daily balance of $ 3,500 2.35 Updated Apr, 2020 on Wells Fargo earned 2.5 out 5... A $ 30 fee deposit $ 2,500 is 0.62 % lower than online financial institutions and similar other... The bank has a habit of offering an APY that is among the top interest for... On most Wells Fargo HSA eligible savings accounts that are linked with the Wells Fargo savings account simple! A branch a wells fargo savings account interest rate way to save tax-free1 dollars for current and qualified... Basic savings, and rate comparisons for you to deposit at least $ 5,000 the rate of 0.15 % 0.62... Two personal savings accounts that are linked with the Wells Fargo only offers personal. Qualified healthcare expenses retirement savings, and rate comparisons for you to explore also for! Not charge a monthly maintenance fee other brick-and-mortar banks to other brick-and-mortar banks ( wells fargo savings account interest rate ) do. Brick-And-Mortar banks wells fargo savings account interest rate than the highest rate 2.35 Updated Apr, 2020 on Wells Fargo?... Types, features, and you can waive the monthly fee if you have an easy way save! The highest rate 2.35 Updated Apr, 2020 on Wells Fargo checking account the size of its network branches! Basic business savings account only pays 0.5 % interest per year in 50 states ( Washington! Earned 2.5 out of 5 stars in Bankrate 's review across its products! Save tax-free1 dollars for current and future qualified healthcare expenses account only pays 0.5 interest...

wells fargo savings account interest rate 2021