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Wells Fargo's Business Time Account, also known as a CD, is designed for business owners with cash reserves that can be held for a specified length of time. It offers fixed interest rates with flexible terms, along with the security of FDIC insurance.
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Lock in a rate – it’s guaranteed for the term of your CD.
Special Fixed Rate CD Rates
Minimum Opening Deposit: $5,000| Term | Special Interest Rate | Annual Percentage Yield (APY) | Renewal Term |
|---|---|---|---|
| 4 months | 3.92% | 4.0% | 3 months |
| 7 months | 3.68% | 3.75% | 6 months |
| 11 months | 3.44% | 3.5% | 6 months |
Standard Fixed Rate CD Rates
Minimum Opening Deposit: $2,500
| Term | Standard Interest Rate | Annual Percentage Yield (APY) | Balance |
|---|---|---|---|
| 1 - 2 months | 0.01% | 0.01% | $0 - $4999 |
| 0.01% | 0.01% | $5000 - $9999 | |
| 0.01% | 0.01% | $10000 - $24999 | |
| 0.01% | 0.01% | $25000 - $49999 | |
| 0.01% | 0.01% | $50000 - $99999 | |
| 0.01% | 0.01% | $100000 or more | |
| 3 - 5 months | 1.98% | 2.0% | $0 - $4999 |
| 1.98% | 2.0% | $5000 - $9999 | |
| 1.98% | 2.0% | $10000 - $24999 | |
| 1.98% | 2.0% | $25000 - $49999 | |
| 1.98% | 2.0% | $50000 - $99999 | |
| 1.98% | 2.0% | $100000 or more | |
| 6 - 11 months | 1.98% | 2.0% | $0 - $4999 |
| 1.98% | 2.0% | $5000 - $9999 | |
| 1.98% | 2.0% | $10000 - $24999 | |
| 1.98% | 2.0% | $25000 - $49999 | |
| 1.98% | 2.0% | $50000 - $99999 | |
| 1.98% | 2.0% | $100000 or more | |
| 12 - 23 months | 2.71% | 2.75% | $0 - $4999 |
| 2.71% | 2.75% | $5000 - $9999 | |
| 2.71% | 2.75% | $10000 - $24999 | |
| 2.71% | 2.75% | $25000 - $49999 | |
| 2.71% | 2.75% | $50000 - $99999 | |
| 3.2% | 3.25% | $100000 or more | |
| 24 - 35 months | 2.23% | 2.25% | $0 - $4999 |
| 2.23% | 2.25% | $5000 - $9999 | |
| 2.23% | 2.25% | $10000 - $24999 | |
| 2.23% | 2.25% | $25000 - $49999 | |
| 2.23% | 2.25% | $50000 - $99999 | |
| 2.71% | 2.75% | $100000 or more | |
| 36 - 47 months | 1.0% | 1.01% | $0 - $4999 |
| 1.0% | 1.01% | $5000 - $9999 | |
| 1.0% | 1.01% | $10000 - $24999 | |
| 1.0% | 1.01% | $25000 - $49999 | |
| 1.0% | 1.01% | $50000 - $99999 | |
| 1.49% | 1.5% | $100000 or more | |
| 48 - 59 months | 1.0% | 1.01% | $0 - $4999 |
| 1.0% | 1.01% | $5000 - $9999 | |
| 1.0% | 1.01% | $10000 - $24999 | |
| 1.0% | 1.01% | $25000 - $49999 | |
| 1.0% | 1.01% | $50000 - $99999 | |
| 1.49% | 1.5% | $100000 or more | |
| 60 - 71 months | 1.0% | 1.01% | $0 - $4999 |
| 1.0% | 1.01% | $5000 - $9999 | |
| 1.0% | 1.01% | $10000 - $24999 | |
| 1.0% | 1.01% | $25000 - $49999 | |
| 1.0% | 1.01% | $50000 - $99999 | |
| 1.49% | 1.5% | $100000 or more | |
| 72 - 144 months | 1.0% | 1.01% | $0 - $4999 |
| 1.0% | 1.01% | $5000 - $9999 | |
| 1.0% | 1.01% | $10000 - $24999 | |
| 1.0% | 1.01% | $25000 - $49999 | |
| 1.0% | 1.01% | $50000 - $99999 | |
| 1.49% | 1.5% | $100000 or more |
What is a CD?
A CD is a financial product that usually pays a fixed interest rate for a set period of time, ranging from a few months to several years. This period of time is known as a “term". By depositing your money into a CD for a set term, you lock in your initial deposit principal and interest rate until your money matures.
You earn interest from the date of your opening deposit up to your maturity date. Your interest compounds daily and is generally paid monthly, although interest payments made quarterly, semi-annually, annually, or at maturity are also available. Interest can be re-deposited to the CD, transferred to a Wells Fargo checking or savings account, or paid to you via check if your CD has a minimum balance of $5,000.
Benefits of CDs
There are a number of reasons you may want to open a CD:
- Interest rates. CDs typically pay higher interest rates than other deposit products. Higher CD rates may be available for longer terms or larger deposited amounts.
- Guaranteed return. Since the interest rate of a Fixed Rate CD is set at account opening and does not change until the CD matures, you know exactly how much money you will earn during the term of your CD.
- Security. Your funds are FDIC-insured up to the maximum applicable limits.
You can withdraw your funds early if you need to, but you may be assessed an early withdrawal penalty or a Regulation D penalty. See additional details in the Wells Fargo CD rate and penalty disclosures below.
What happens when your CD matures?
Approximately one month before your CD matures, you’ll be sent a notice reminding you of the maturity date. At maturity, you'll have a ten calendar day grace period to renew or make any of the following changes:
- Change the term
- Make additional deposits
- Make withdrawals (as long as the remaining balance in the CD meets the minimum balance requirements)
- Close the CD
CDs renew automatically at maturity. Interest will not be paid during the grace period if you withdraw your funds and do not reinvest your CD.
The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate compounded daily for a 365-day period.
If you receive a periodic statement, that statement will include the Annual Percentage Yield Earned (APYE) on your account for the period covered by the statement.
The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
