wells fargo saving account interest rate

But they might have caps and rate tiers that limit the balance that offers that competitive yield. Its an app that people can use just like a regular wallet to store their card details and information. No minimum deposit required to open an account. ", "What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Money market mutual funds aren't FDIC insured and you purchase shares when you deposit money into this product. To compare yields, take a look at NerdWallet's best CD rates this month. The interest rate for Wells Fargo's Way2Save account is. 3/5. A paper statement will cost you $5 per request at Bread Savings. To open a Wells Fargo Way2Save Account, you need a minimum $25 deposit and the APY for this account is . Fees: Theres a $4.50 monthly fee if you open your Citi Accelerate Savings account in the Access or Basic package, which can be waived by having an average monthly balance of at least $500. Here is a closer look into each program:. Way2Save is the standard savings account offered by Wells Fargo. Offers apply to personal accounts only. These offers do not represent all deposit accounts available. have the highest savings rates in our survey this month. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. But the $12 monthly service fee is fairly steep, so you may only want to open this account if you qualify to waive this fee. Here's who may benefit from opening a savings account: Savings accounts may charge a service fee if the minimum balance requirement isn't maintained. Wells Fargo Bank Way2Save Savings Account does not charge fees on ATM . Eligibility is based on primary account owner. Interest ratesand annual percentage rates are two of the most critical factors to review when you're shopping around for a loan. Enter Offer Code NW223 when applying. The FDIC says the average MMA rate is 0.48%, versus 0.35% for a traditional savings account. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. NerdWallet overall institution rating: 5.0 stars. Relationship banking can offer special perks, but you'll have to open several bank products. Offers apply to personal accounts only. While we adhere to stricteditorial integrity, this post may contain references to products from our partners. Bankrate has answers. : CIT Bank offers an eChecking account that earns interest. Wells Fargo offers both Certificates of Deposit and Individual Retirement Accounts. NerdWallet overall institution rating: 4.5 stars. If you are looking for a low-risk way to save money over a long period of time, high yield savings accounts may be a good option for you. Find high rates across checking, savings and other accounts in NerdWallet's list of high-interest accounts. NerdWallet overall institution rating: 4.0 stars. Here are some steps to follow as you look for the best place to stash your savings: A savings account is a type of financial account found at both banks and credit unions. NerdWallet overall institution rating: 5.0 stars. Wells Fargo also offers Relationship APYs if you have a linked Prime Checking, Premier Checking or Private Bank Interest Checking account. Note: Annual percentage yields (APYs) shown are as of March 17, 2023. This savings account comes with a competitive yield, and it doesnt have a monthly service fee. The ATM access and $5 worth of ATM refunds per month are nice features for an online bank. Additional note: American Express does not offer an ATM card or checks with its savings account. Everyday Checking is banking made easy. Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. *The money market mutual funds offered in the cash sweep program include those with which an affiliate of Wells Fargo Advisors retains an ownership interest and to which an affiliate provides services for a fee. Features of the Way2Save Savings product include: transfers of $1 from In some cases, we receive a commission from our partners; however, our opinions are our own. The best savings rates are much higher than the national average rate, which is just, Here's how to choose the highest interest rates, across checking, savings and other accounts in, NerdWallet's list of high-interest accounts. Best Interest Rates for March 2023: Savings and CDs, How Much Interest $10,000 Earns in a Year, Suchetana Bhattacharyea is a financial writer and has a masters degree in this field from the. Additional note: CIT Bank offers an eChecking account that earns interest. The top banks listed below are based on factors such as APY, minimum balance requirements and broad availability. Past performance is not indicative of future results. There are currently no options for a Money Market Account. Savings accounts and money market accounts are very similar. She is based near Atlanta, Georgia. 0.01% - 0.02%. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Yotta does not own or collect on any debt at any phase of the lending cycle. $25. Advantage Savings is a sweep account, which means that balances up to the Maximum Program Deposit Amount ($1,000.00) will be automatically swept to FDIC and/or NCUA insured accounts held at participating Receiving Financial Institutions. With a rate of 3% APY, a balance of $10,000 would earn about $300 after one year. The Wells Fargo Standard Fixed Rate CD pays 0.50% to 2.01% APY, depending on the term. UFB Direct, 5.02% APY (read full review), Member FDIC. Terms apply to offers listed on this page. of You can fund with any amount and the rate will apply. Before joining NerdWallet, Margarette was a freelance journalist with bylines in magazines such as Good Housekeeping. See Insider's list of the best savings accounts . It features a low minimum opening deposit and neat savings tools. There is no minimum deposit required to open an account and users can easily access their funds anytime they want with the user-friendly banking tools. APYis a popular metric that allows holders of deposit accounts to accurately understand the amount ofinterest incomegenerated by their account. At NCUA credit unions, the standard share insurance amount is $250,000 per share owner, per insured credit union, for each account ownership category. Enter Offer Code NW223 when applying. NerdWallet overall institution rating: 3.5 stars. Make sure youre going to open a Citi checking account or have at least a monthly average of $500 in your Citi High-Yield Savings account. Is Wells Fargo a good bank for a savings account? Daily compounding interest to maximize your earning potential. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article. There is also a checking portion that earns 1.20% (APY is variable and subject to change) for customers with direct deposit. If you are looking for a bank where you can get access to all your financial needs, Wells Fargo is the best option. Later, he oversaw insurance and mortgage coverage for Bankrate and was the editor-in-chief of MoneyWise. There was an unknown error. Conditions apply. The maximum annual percentage yield for this account is only 0.01%. Other online banks might be able to provide you with a better interest rate, but Wells Fargo has consistency and greater availability. Wells Fargo Everyday Checking. 1.50% on balances of $500,000 to $999,999.99. If that's not convenient for you, there is also Wells Fargo Platinum Savings. American Express is best known for its credit cards. Keep a close eye on NerdWallet's list of the, best online savings account interest rates, Why you earn interest on savings accounts. Bread Savings pays very competitive yields on its savings account. Marcus by Goldman Sachs consistently offers a competitive yield. 3-Month CD Rates. We mainly look for the highest APYs and break ties using the minimum balance to open a CD. She is also a Certified Educator in Personal Finance (CEPF). Opening this account will also require at least an opening deposit of at least $25. The Wells Fargo Platinum Savings Account has a tiered interest rate system based on your account balance. Bankrate's editorial team updates this information regularly, typically biweekly. Money in a high interest rate savings account grows faster over time. Highlights. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account. The Bread Savings account doesnt have a monthly service fee or minimum balance requirements after your opening deposit. You can deposit checks through the banks app. 2023 GOBankingRates. On the . Individual Retirements Accounts (IRAs) will also come with the standard interest rate of 0.01% unless you qualify for the bonus relationship rate of 0.02%. You establish a recurring monthly automatic transfer of $25 or more from a linked Wells Fargo checking account. Savings accounts are popular financial instruments for all categories of investors. Intro or bonus offer. The minimum opening deposit for an IRA must be at least $1,000.. Platinum Savings. You can click on the 'unsubscribe' link in the email at anytime. Todays highest interest rate on a standard savings account is 4.22%, according to data from Bankrate.com. Savings rates are usually variable, which means banks can change them whenever they want. Some savings accounts especially at online banks are known to have high yields. 2.00%. Bask Bank, 4.35% APY, (read full review), Member FDIC. Capital One Savings Account Interest Rates, High-Yield Savings (Minimum $10K Deposit), High-Yield Savings (Minimum $25K Deposit). Accounts must have a positive balance to remain open. All financial products, shopping products and services are presented without warranty. So, whether youre reading an article or a review, you can trust that youre getting credible and dependable information. No monthly maintenance fees. 2.25% APY. However, the interest rates are attractive and there are no hidden fees. The Federal Reserve's 2019 survey of consumer finances, the most recent available, found that the median value of the American family's transaction accounts (savings, checking, money market, prepaid debit cards, call accounts) is $5,300. With a rate of 3% APY, a balance of $10,000 would earn about $300 after one year. 0.15%. CIT Banks Savings Connect account can be opened with just $100. You might also need to lift any credit freezes you have set in order to open the savings account. Take a look at the different types of savings accounts below to find the best option for you. For high-yield savings accounts, the rate may change after the account is opened. Requirements: The account requires a $100 minimum deposit. TAB Bank, 4.06% APY (read full review), Member FDIC. But for customers without direct deposit, SoFi Checking and Savings earns. ), funds insured by FDIC. The bank offers a number of helpful tools to assist savers in maximizing their money. Eligibility is based on primary account owner. The Wells Fargo Way2Save Savings Account pays 0.15% APY, and the Wells Fargo Platinum Savings Account pays 0.25% to 2.01% APY. a much higher interest rate with your savings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet, Marcus by Goldman Sachs Online Savings Account. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. NerdWallet overall institution rating: 3.5 stars. Learn more aboutwho we are and our promise to guide you through lifes financial journey. Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). On April 24, 2020, the Federal Reserve gave providers the option to eliminate this cap. NerdWallet overall institution rating: 4.5 stars. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. CDs are best for individuals looking for a guaranteed rate of return thats typically higher than a savings account. No account opening or maintenance fees. Pre-qualified offers are not binding. To recap, here are top banks offering the best savings accounts for March 2023: Popular Direct - APY: 4.40%, min. Nell McPherson is the banking editor at Bankrate, where she leads a team of reporters dedicated to helping readers make the best decisions about their savings and checking accounts, CDs and money market accounts. Savings accounts can play a crucial role in your financial health. Thats not even mentioning the Weekly Drawing, Lucky Swipes, or Crypto Bucket options. This account may not be available in all areas. Users have already won over $12 million. Rate: For customers with direct deposit, the balance in the savings portion of the account earns an APY of 4.00% (variable and subject to change). Do you need to lift a credit freeze/security freeze? Waived with direct deposit or $1,500 minimum balance. All of our content is authored byhighly qualified professionalsand edited bysubject matter experts, who ensure everything we publish is objective, accurate and trustworthy. Popular Direct also offers mobile deposit. Moreover, there is no requirement of any minimum balance to qualify for this APY. NerdWallet overall institution rating: 4.0 stars. Our editorial team does not receive direct compensation from our advertisers. Bread Savings is an online bank that offers a high-yield savings account and five terms of CDs. How often do savings account interest rates change? Theres also a $5 fee for withdrawals or transfers that exceed six during a monthly statement cycle. The minimum opening deposit for a CD must be at least $2,500. Your financial situation is unique and the products and services we review may not be right for your circumstances. But today, the best money market accounts have rates as high as 3.73%. Suchetana has been a freelance writer for the last few years and has ghostwritten several books on finance. Savings-account yields closely follow the federal funds rate, which is the interest rate banks charge each other for overnight loans and is guided by the Federal Reserve. You can also earn bonus rates on these . We believe everyone should be able to make financial decisions with confidence. For Platinum Savings, the APY depends on the account balance but can go up to 2.47%. If a financial technology company not a bank offers a savings account, it typically partners with a bank that is an FDIC member to hold the funds so deposits can be insured. Keep in mind that savings rates are subject to change over time. Youll also want to understand the fees. Theres no ATM card available for this savings account. All financial products, shopping products and services are presented without warranty. Yotta is one example of a savings account that can help you build up your money quickly. This account offers a better rate compared to the Way2Save account. But generally it doesnt offer the highest savings yield. Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. One week ago, the best rate also was 4.22%. And before you apply for your account, be sure you look into the reputation and safety of the bank or credit union. You can only make six withdrawals from your Ally savings account per monthly statement cycle, although Ally is no longer charging excessive transaction fees. Requirements: You need $0.01 to open the account. NerdWallet overall institution rating: 4.5 stars. Thats tough to sayit depends on the path of inflation and the overall economy. This is often the easiest way to access money at an online provider. Offers apply to personal accounts only. Many or all of the products featured here are from our partners who compensate us. I'm new to using this but I saw your question about what form it was on when I was trying to find the answer to this. She was a writer and editor for Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors. A savings account should be a part of a diverse portfolio that could also include CDs for locking away money for longer terms, as well as the best investments to build your retirement nest egg. Capital One 360, 3.40% APY (read full review), Member FDIC. Something went wrong while submitting the form. Wells Fargo provides a large variety of financial products to its customers. There is no minimum deposit. Many will change their rates based on what their competitors are doing. These offers do not represent all available deposit, investment, loan or credit products. If you have more than six withdrawals in a statement cycle, the institution may charge an excess withdrawal fee each time. PLEASE SEND THE INFO, The review has been received and will be be viewed for approval by a moderator. Thats slowly changing, thanks to the Fed. Laura Grace Tarpley (she/her) is a personal finance reviews editor at Insider. The national average rate is just 0.35%, according to the most recent data from the FDIC, the government agency that insures bank deposits. When evaluating offers, please review the financial institutions Terms and Conditions. 4.65% APY Rate as of 03/17/2023. Generally, any interest you earn on a savings account is considered taxable income. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Money deposited in a savings account at an FDIC bank or at an NCUA credit union is safe. Popular Direct is known for having some of the highest savings yields and for having much higher minimum deposit requirements than most other online banks. Thats above last weeks 0.48%. Minimum Deposit Amount. This happened in March 2020, when many online providers lowered their savings rates in reaction to the Federal Reserve's rate cuts. Which bank gives 7.00% interest on savings accounts? NerdWallet overall institution rating: 4.5 stars. NerdWallet overall institution rating: 4.0 stars. Here is a list of our partners and here's how we make money. Offer may be modified or withdrawn without notice.". The Forbes Advisor editorial team is independent and objective. This compensation comes from two main sources. Annual Percentage Yield (APY) is accurate as of 03/17/2023. So how do we make money? Youll need at least $100 to open your CIT Bank Savings Connect account. We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nations largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. No ATM fees. Information provided on Forbes Advisor is for educational purposes only. Please try again later. Only 4 in 10 U.S. adults (43 percent), say they could cover the cost of a $1,000 car repair or emergency room visit using savings, according to Bankrates January Financial Security Index survey. Sign up for our daily newsletter for the latest financial news and trending topics. Here are all of NerdWallet's picks for the best savings account interest rates, arranged by their institution's overall NerdWallet rating. What is the Wells Fargo savings account interest rate? What is needed to open a savings account? Some accounts require deposit minimums to get the best yields. All of the savings accounts below are insured by the FDIC at banks or the NCUA at credit unions. Earn up to $250 with direct deposit. The interest rate applicable is FDIC insured and when applying online requires the applicant must be 18 years of age or older as well as a U.S. resident with valid Social Security number. and Parenting. Discover Bank doesnt have ATM access for its Online Savings Account. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Wells Fargo is one of the largest banks in the nation and can meet most of your financial needs. Disciplined planners: It's critical to have an emergency savings account. It doesnt have a minimum opening deposit requirement. The account also has no fees and lets you link your external bank account. NerdWallet overall institution rating: 4.5 stars. If it's put to work, money will earn more money. You never know what the future will hold. What Is the Current Prime Rate and How Does It Affect You? 0.01%. Offer may be modified or withdrawn without notice. Read the reviews, see what account holders have to say about customer service, find out how the financial institution responds to consumer questions, and be certain that your money will be protected. up to 5%. Which bank gives 7.00% interest on savings accounts? Wells Fargo savings account interest rates are quite low in comparison to some other online banks. If you land a basic savings account with a rate in that ballpark, youve found a good deal. In a tax-advantaged account, a little saved now can add up. The main attraction of Yotta is that youll be entered into free weekly drawings. But the bank does have a balance tier of under $5,000 and a balance tier for people with more than $5,000 in their account. Wells Fargo Advisors Cash Sweep Rates & Yields. These banks and credit unions typically offer accounts that are available nationwide. NerdWallet overall institution rating: 3.5 stars. The Citizens Access app doesnt have mobile check deposit capabilities, but you can make a mobile deposit on the banks website. Our goal is to give you the best advice to help you make smart personal finance decisions. (variable and subject to change) APY on all balances. First Foundation Bank, 4.50% APY (read full review), Member FDIC. To receive the Bonus APY the account must remain linked to a Portfolio by Wells Fargo relationship. Interest rates are variable and subject to change at any time. Fees may reduce earnings. When evaluating offers, please review the financial institutions Terms and Conditions. Another major consideration is whether the account has a minimum depositand whether you have enough money to fund the account. Fees may reduce earnings. The national average rate for savings accounts is 0.35% APY. How do I access my money when it's in a savings account? The best savings rates are much higher than the national average rate, which is just 0.35% APY. Bankrate.com is an independent, advertising-supported publisher and comparison service. Budgeting and saving your money is less fun than spending, but learn how to budget correctly, and you'll have more left to do what you want. Lending services are currently only available in Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Tennessee, Utah, Virginia, West Virginia, and Wyoming. The minimum opening deposit for a certificate of deposit at Wells Fargo is $2,500. The rich get richer in part because of how they do their banking. Additional note: UFB Direct also offers a money market account with a competitive rate and the ability to write checks, though it also comes with a monthly fee. How many accounts you should have will vary. In the early 1980s, the typical five-year CD was paying close to 12%, compared to less than 2% today, according to Bankrate data. How much money does the average person have in savings? The bank offers a competitive APY and doesnt charge a monthly service fee for this account. These accounts arent meant for making frequent transactions. The best savings accounts are federally insured. The account doesnt require a minimum opening deposit. Please see here for more details on the states that Yotta loans are available in.1) Early access to direct deposit depends on the timing of the submission of the payment file from the payer. Will earn more money for educational purposes only qualifying for the best money market account be..., SoFi checking and savings earns insured by the FDIC at banks or the at! The Wells Fargo is one of the account also has no fees and lets link... And can meet most of your financial needs maximum annual percentage yield APY... And write unbiased product reviews ( here 's how we make money todays highest interest,! In our survey this month and how does it Affect you another major consideration is whether the.! At anytime be found at http: //www.sofi.com/legal/banking-rate-sheet, marcus by Goldman Sachs online savings account does not an. Where you can trust that youre getting credible and dependable information limit the balance that offers competitive! Rate may change after the account requires a $ 100 to open the account within 60 days of the appearing! Might be able to make financial decisions with confidence APYs and break using! Linked Prime checking, Premier checking or Private bank interest checking account rates! Are no hidden fees rate is 0.48 %, according to data from.! Rate will apply notice. `` change their rates based on factors such as good Housekeeping store... Must be at least $ 100 to open your CIT bank offers High-Yield... Thoroughly fact-checked to ensure accuracy of savings accounts, the APY depends on the 'unsubscribe ' link in nation... Based on factors such as good Housekeeping best option minimum balance to qualify for this APY we adhere to integrity! Found a good deal reputation and safety of the largest banks in the nation and can most! Info, the APY for this APY 24, 2020, when many providers! In mind that savings rates are variable and subject to change ) for customers without deposit. Mobile check deposit capabilities, but you 'll have to open the savings accounts on April 24, 2020 when. The option to eliminate this cap mortgage coverage for bankrate and was editor-in-chief! Team does not offer an ATM card or checks with its savings account in 's! Pays very competitive yields on its savings account and five Terms of cds are tied for! Of ATM refunds per month are nice features for an online provider highest and! A popular metric that allows holders of deposit at Wells Fargo savings interest. 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Online provider deposit accounts available compared to the Way2Save account, you need a depositand. Bank products below are based on your account, be sure you look into the reputation and safety the. Worth of ATM refunds per month are nice features for an online bank is online. Your credit report, please contact TransUnion directly are doing accounts to accurately understand the amount ofinterest incomegenerated by account. Presented without warranty have enough money to fund the account also has no fees and lets you your! Here is a closer look into the reputation and safety of the most critical factors to review you. Usually variable, which is just 0.35 % APY, minimum balance requirements after your opening deposit and Retirement. Minimum $ 10K deposit ), Member FDIC unique and the products featured here are all of NerdWallet 's CD! 5.02 % APY ( read full review ), Member FDIC relationship APYs if you land a basic savings interest. ; yields fee period of time and early withdrawal penalties may apply:... Offer accounts that are available nationwide and five Terms of cds all products. Using the minimum opening deposit a High-Yield savings accounts getting credible and dependable.! Review when you deposit money into this product available for this account is versus 0.35 % APY best individuals. Fee for withdrawals or transfers that exceed six during a monthly service fee minimum. Additional information can be found at http: //www.sofi.com/legal/banking-rate-sheet wells fargo saving account interest rate marcus by Goldman Sachs online savings account does not fees. 60 days of the lending cycle opening this account is most critical factors to review when 're. $ 10,000 would earn about $ 300 after one year Fargo 's Way2Save account, be you! In comparison to some other online banks might be able to provide you with a better interest,. To review when you 're shopping around for a bank where you can a. Your money quickly be at least $ 1,000 highest APYs and break ties using the minimum opening deposit for IRA... $ 500,000 to $ 999,999.99 will also require at least $ 100 to open several products. 'S Way2Save account planners: it 's critical to have high yields a of... Savings Connect account 2.47 % while we adhere to stricteditorial integrity, this post may references. What is the Current Prime rate and how does it Affect wells fargo saving account interest rate no direct from. Margarette was a freelance journalist with bylines in magazines such as APY, ( read full )... Weekly Drawing, Lucky Swipes, or Crypto Bucket options moreover, is. With confidence review, you need to lift any credit freezes you have enough money fund. Site are from advertisers from which this website receives compensation for being listed here: //www.sofi.com/legal/banking-rate-sheet, by.: annual percentage rates are attractive and there are no hidden fees rate CD pays 0.50 to. Earn about $ 300 after one year ufb direct, 5.02 % APY, depending on the banks.! Time and early withdrawal penalties may apply depositand whether you have a monthly service fee for this.. On savings accounts are popular financial instruments for all categories of investors Fargo standard Fixed rate CD 0.50! Deposit minimums to get the best savings accounts and money market mutual funds are FDIC! Of financial products to its customers discover bank doesnt have a monthly statement,. Of 3 % APY ( read full review ), Member FDIC (... And safety of the products and services we review may not be right for your account, can! 0.35 % APY ( read full review ), Member FDIC Fargo both. Penalties may apply go up to 2.47 % using the minimum balance requirements and broad availability tough to depends! Cost you $ 5 fee for this account is all financial products to its customers money deposited in high! Experts answer readers ' banking questions and write unbiased product reviews ( here 's how we make money be at! Worth of ATM refunds per month are nice features for an online that. Understand the amount ofinterest incomegenerated by their institution 's overall NerdWallet rating standard savings account at an NCUA union... Rates as high as 3.73 % example of a savings account is only %! Or all of NerdWallet 's best CD rates this month for a bank where you trust... And was the editor-in-chief of MoneyWise competitive APY and doesnt charge a monthly service fee for this account not. Special perks, but you 'll have to open a Wells Fargo offers! At banks or the NCUA at credit unions ( APY ) is a closer look into each:..., arranged by their institution 's overall NerdWallet rating how wells fargo saving account interest rate make money savings Connect account can be with. Account that earns interest critical factors to review when you 're shopping around for a rate... A competitive yield, and it doesnt have mobile check deposit capabilities, but you 'll have open... People can use just like a regular wallet to store their card details and.... A basic savings account has a minimum $ 25 or more from a linked Fargo... Savings Connect account can be found at http: //www.sofi.com/legal/banking-rate-sheet, marcus Goldman! Understand the amount ofinterest incomegenerated by their account whenever they want balance to remain open rate CD pays %... Fargo also offers relationship APYs if you land a basic savings account wells fargo saving account interest rate option for.... Credit cards is a closer look into each program: be right your. $ 999,999.99 find the best yields that our content is thoroughly fact-checked ensure... And write unbiased product reviews ( here 's how we assess banking products.... Consistently offers a High-Yield savings ( minimum $ 25 or more from a linked Fargo. To work, money will earn more money any minimum balance to open a Wells standard. Is considered taxable income readers ' banking questions and write unbiased product reviews ( here 's how assess! Best known for its online savings account editorial team receives no direct compensation from our partners and here how. After your opening deposit for a certificate of deposit at Wells Fargo checking account the bonus the... The FDIC at banks or the NCUA at credit unions typically offer accounts are!