Trying Out the Step Rate Certificate of Deposit at Wells Fargo

Certificates of deposit are a great way to let your money earn interest. Many investors choose to place their money in CDs because of the security it offers. Despite having higher rates, some investors may have second thoughts about investing in long term CDs because of the lock in period. Penalty charges usually apply for early withdrawals. However, CD depositors at Wells Fargo need not worry about having to pay penalty fees with early withdrawals. With the Step Rate Certificate of Deposit, investors can enjoy higher rates with the option to withdraw early.

Many people are quite familiar with Wells Fargo because they have been known for providing and offering the best rates in terms of certificate of deposits. Wells Fargo was recognized in the year 1852 and since then has established an excellent and stable banking system. Services they offer include loans, mortgages, savings, credit and debit cards, and more.

The Step Rate certificate of deposit is a 24 month CD featuring guaranteed rate increase. It also has penalty free withdrawals for every six months. This will be allowed when the account owner has maintained the minimum opening amount or balance of the CD account. What is the minimum opening deposit? It is only $2,500 and this is has an annual percentage yield of 0.32%. When the account owner will use the step one which will mean 1-6 months, the interest rate is 0.10%. Step two will then be from 7-12 months with an interest rate of 0.25%. On the other hand, step three with the term 13 to 18 months has an interest rate of 0.40% and so on. This is then how advantageous it will be when people will choose this CD at Wells Fargo.


The Right Customer Mortgage at Wells Fargo

For those people who want to purchase new homes or perhaps refinance their own house, it is crucial to find the right bank that gives affordable mortgage rates. There are many good financial companies that offer the best rates in terms of mortgages. And one of the banks that people can truly trust is Wells Fargo.

Wells Fargo started way back in 1852. Given its lengthy history, Wells Fargo has built a solid name for itself. People will always go for the best in providing what they need. Wells Fargo has so much to offer in terms of financial services like mortgages, loans, insurances, credit cards, debit cards, savings, and many more. You name it they got it.

For their latest updates with regards to their mortgage rates as of August 15, 2012, one of the best they have is their 30 year fixed rate with an interest rate of 3.875% and an annual percentage rate or APR of 4.051%. The advantage with fixed rate mortgages is that the amortization remains the same all throughout the 30 year term. This prevents unpredictable high monthly payments. The other term is the 30 year fixed FHA with an interest rate of 3.625% and an APR of 4.686%. Those who want the 15 year fixed term; the APR is 3.308% and an interest rate of 3.000%. On the other hand, they also have the 5 year ARM with an annual percentage rate of 3.072% and interest rate of 2.250%. And lastly, they have the 5 year ARM FHA with an interest rate of 2.375% and APR of 3.036%. These rates are very reasonable and most people would certainly like this because they will be able to afford it. So to those who want the latest mortgages should try and check it out at Wells Fargo.


Checking Account Promotion Package at Wells Fargo with their PMA Premier Checking

Wells Fargo is one of the leading financial institutions in the whole nation as of today. Many individuals have invested with this company because they know their money is safe and secured. Wells Fargo provides some of the best financial solutions for people through the different services they offer such as checking, savings, credit cards, loans, commercial businesses, and more.

Right now the major choice for many is specifically the PMA Premier Checking account. Why is this so? It is because of the high level of advantages as well as the benefits that account holders can gain. Those who are looking for the best checking account will certainly find satisfaction in this one. So what are its benefits? First and foremost, this checking account can earn bonus interest rates for other linked accounts within Wells Fargo such as savings account and CD’s under the same account holder’s name. If have a good checking account record then the company will give them bonuses through the other accounts they hold. And not just that, there will be no monthly service fees for the other linked accounts. There will also be discounts in interest rates which will definitely be of great help to those who have loans.

In terms of rates and fees, those checking accounts with a balance of $0- $4,999.00 will have an APY of 0.01%. Accounts with $50,000- $99,999.99 will have an APY of 0.05% and a balance of $10,000 or more will have an annual percentage yield of 0.15%. These are huge already because there are some banks that do not have APYs and interests which discourage a lot of people to open checking accounts with them. On the other hand to those who are concerned with the service fee, it is actually $30 monthly but it will be given for free when owners meet specific requirements such as having more qualified bank link deposits within Wells Fargo.


Clarifying Wells Fargo Mortgage Rates and Loans

Mortgages are vital to anyone who’s looking to acquire a new home. With the heavy prices of real estate, not all of us can afford to pay cash to get a new house. This is the reason why families choose to turn to banks or other financial establishments that can help them get the financing they need. One place to get a good loan is Wells Fargo.

Wells Fargo has been providing several financial services to many Americans ever since they began. They are one of the leading and largest financial institutions in America which reflects stability and good service. With all the problems people are facing right now especially with their finances, it is just right that they find the right help they need. Many American families would go to Wells Fargo in order for them to get the right mortgage rates and loans.

As of today, the rates they have are quite competitive. For the 30 year fixed mortgage term, the rate is 3.750% with an APR or the annual percentage rate of 3.801%. While for the 15 year fixed term, the rate is 3.040% with an APR of 3.132%. Other terms they have for the adjustable rates include the 10/1 with an APR of 3.331% and a rate of 3.220%. For the 7/1, the rate is 2.670% and the APR is 3.101%. The 5/1 on the other hand has the rate of 2.560% with the APR of 3.142%. The last term is the 3/1 with APR of 3.581% and the rate of 4.060%.

With these rates, those who want to apply for a mortgage loan will base their decisions from these. They will have to choose the right term in order for them not to have problems in the future especially with their their payments. People will surely find what they are looking for at Wells Fargo.


College Combo Checking Account Promotion at Wells Fargo

Students today are on the hunt for the best checking accounts that they can use for their everyday student life. With projects and daily living expenses to attend to, checking accounts are a necessity. With this being a part of everyday life, it’s only logical to find a financial institution which can best cater to their needs. One of these banks is Wells Fargo.

About Wells Fargo

Wells Fargo is a famous corporate bank in America that has been serving many people and families. They have quality services that cater to the needs of Americans. This is indeed the company to go to and since they are one of the leading banks in the United States. In terms of checking accounts, they currently have a promotions which students can take advantage of. This promotions is called the College Combo checking account.

The college combo checking account is open to college students aged 24 years old and younger. Just as long as they are in college, they can avail of this Wells Fargo promotion. To those who want to open one, it is very quick, easy, and secured. Students can even open their new accounts online and access their accounts through their mobile phone. The minimum amount to open the combo is $125 only. The $100 is for the checking account while the $25 is for the savings account. This is how easy and affordable it is to open a checking account.

The College Combo Package

The college combo includes the Wells Fargo checking account, the way2save savings account, a platinum debit card, free account alerts and free online bills payment.


Banks To Begin a Barrage of Debit Card Fees

Bank of America, the country’s biggest consumer bank by deposits, recently went public with their decision to begin issuing new fees to customers who pull out their debit card when making purchases. The $5 monthly fees will begin being issued January 1, 2012.

As Bank of America spokeswoman Anne Pace stated to Bloomberg News, “the economics of offering a debit card have changed with recent regulations, and we’ve decided to introduce a monthly fee for customers who use their debit cards for purchases.”

This announcement has caused much outrage among consumers and politicians alike, especially in light of the fact the Bank of America received a federal bailout to the tune of $45 billion, as reported by foxnews.com.

The “recent regulations” referenced by Pace are the “swipe” fee caps that went into place on October 1, restricting the amount banks can charge merchants per debit card transaction.

“It seems that old habits die hard for Bank of America. After years of raking in excess profits off an unfair and anti-competitive interchange system, Bank of America is trying to find new ways to pad their profits by sticking it to its customers,” said Senator Dick Durbin, D-Ill, in a statement, according to foxnews.com. Durbin, after whom the “recent regulations” are named (i.e. the Durbin Amendment), also stated “It’s overt, unfair and I hope their customers have the final say,” in regards to BOA’s new fee.

Bank of America is not the only bank levying new fees upon customers in an attempt to recoup revenue losses as a result of the Durbin Amendment.

The Huffington Post revealed that Wells Fargo, who has been field testing a monthly debit card fee in select places throughout the country over the past several weeks, has decided to burden their customers who use a debit card for purchases with a similar fee, $3 a month starting this fall. Chase, who also field tested monthly debit card fees, decided against implementing one for the time being. Smaller lending institutions like SunTrust and Regions Financial have both chosen to impose debit card usage fees upon their customers. People using their debit cards at the ATM will not be charged the monthly fee, it is only enacted when their debit card is used to make a purchase.

Amidst all of these changes, now is an opportune time for fee-conscious consumers to apply for a credit card to use for purchases in lieu of a debit card. If used responsibly and the balance is paid off in full at the end of each billing cycle, a credit card won’t incur a monthly usage fee.

Citibank, who announced that they will not be charging their customers a monthly fee for making debit card purchases, is instead restructuring their fee structures for checking accounts along with raising minimum balance requirements.


Wells Fargo’s Best CD Rates

For most major banks you will never find a great CD rate in this economy. If you are looking for the best certificate of deposits, you are better off looking at credit unions or smaller banking institutions.

Wells Fargo is no different than Bank of America, Chase, US Bank or any other major banking institutions. If you feel more comfortable putting your money with a large bank then it’s all about where you look. None of the certificates of deposit offered at Wells Fargo will come close to the national averages for CD Rates.

If you take a look at our last CD Rate board For September 3rd, you will see how low these rates are from Wells Fargo.

Take a look at how low the short term rates are from Wells Fargo:

Those were the interest rates on a minimum of $2,500 deposited.

If you can increase your minimum to $5,000 Wells Fargo will give you better rates on its longer ‘odd’ term CD rates.

  • 23 Month CD – 0.90% APY
  • 33 Month CD – 1.15% APY
  • 54 Month CD – 1.90% APY, which the national average return for a 60 Month CD is 1.72% APY.

The main reason why someone would want to buy into these CDs is for security reasons. Most major banks are insured and while the U.S. government won’t allow them to fail, smaller banks and even some credit unions are still at risk.

Long term certificates of deposit are still not impressive and probably isn’t worth your time or money to buy at this current period of time. You are more likely to make your money back by investing into something tangible, real estate or something else that you can keep your cash free from penalty. CDs require you to keep your money in for the term or risk losing most all of your interest and possibly even some of your principle.

Be sure to check out our CD rate tables for the best deals nationally.


Wells Fargo Mortgage Rate Review

Wells FargoWells Fargo is one of the nations largest banks.  Sometimes large banks are able to offer very competitive mortgage rates for their customers.

In this case Wells Fargo is showing some good average mortgage rates.  Most of the rates are falling right in line with national average.

Remember rates may change depending on where you live, but this is a good start.

These rates are based on 1 point (1% of the loan amount) being paid for origination.

Term Rate APR
30-Year Fixed 4.375% 4.559%
30-Year Fixed FHA 4.375% 5.100%
15-Year Fixed 3.750% 4.069%
5-Year ARM 2.875% 3.209%
5-Year ARM FHA 3.250% 3.074%

If you want to check out more info at Wells Fargo or read the fine print click here.

Check out the National Mortgage Rate Averages Here.

Wells Fargo has been around for well over a century. Over 150 years ago, Henry Wells and William Fargo founded a company that has become a legendary part of America. This heritage is still very much a part of Wells Fargo’s identity today.