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The Wells Fargo Savings Account interest rate is 0.01% for its Way2Save product. This is below the national average of 0.06%, and significantly worse than the Annual Percentage Returns, or APYs, on online savings accounts.
Wells Fargo Interest Rate
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Interest rate on balances |
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The national average rate for savings accounts is 0.06% APY. |
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How to avoid monthly fees |
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Interest on premium savings account balances |
Up to 0.02% APY for clients with a linked Wells Fargo Portfolio account. (APYs may vary depending on where you live.) |
How Wells Fargo Stacks Up To Online Banking
Mega banks like Wells Fargo often have low-interest savings accounts. If you are looking for higher rates on your savings accounts, you will likely find better options at online banks. In addition to having accounts with higher returns, many do not have monthly fees or minimum balance requirements.
Wells Fargo CDs and other savings options
In addition to its Basic Savings Account, Wells Fargo offers a Platinum Savings Account with a rate that is only slightly higher, if you have a linked Wells Fargo Portfolio account. The bank also offers a selection of CDs with a minimum opening balance of $ 2,500, but the rates are just as low.
Find out how much interest you could earn with the savings calculator below. The higher the rate, the faster your money can grow.
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