CD Rates Wells Fargo
With the world in a financial recession, making an investment at this time should be done with the safest type of investment available. This can be done safely after you investigate the current CD rates. Wells Fargo is a company with over 150 years of financial security and has very competitive CD rates.
Each of the maturity terms that are offered by Wells Fargo, have a three tier layer to them. The more you invest, the better the interest rate is. The standard investment amounts set forth by Wells Fargo are $2,500, $10,000 and $100,000. As the investor increases the amount placed into a CD, there is an increase in the amount of interest paid.
For those investors that have made at least a $5,000 to invest there is special rates CD available. For a 10 month CD the APY is at 0.90% which is renewable after 6 months. The 13 month CD has an APY of 1.40% and is renewable after 12 months. There is also an 18 month CD that has an APY of 1.75% and also renews at 12 months. The highest rate is from the 25 month CD. The APY is at 2.30% and renews at 24 months.
The renewal is automatic unless the bank is notified within a 7 day window of the CD’s maturity. Other actions that can be taken at the maturity of a CD are that withdraw of the funds without any penalty may take place, the selection of a new term length and additional investment amount can be added.
The penalty for early withdraw are for a 3 month CD is one month of interest. For a CD with a maturity term between 3 and 12 months, the penalty is 3 months interest. The penalty for early withdraw of a CD with a term longer than 12 months is 6 months of interest. This is also a minimum amount a fee can be which is $25.
Wells Fargo online banking site will have all the current CD rates. Wells Fargo accounts can also be opened in person and any local branch office.