Wells Fargo IRA Rates November 2011

Wells Fargo’s IRA rates are perhaps one of the most competitive IRA rates in the market today. However, Wells Fargo IRA rates depend largely on which state you reside.

For example, if you reside in the District of Columbia, the IRA CD rate for a 26 month IRA CD special is higher than the IRA CD rate offered in Massachusetts. DC residents get to enjoy a much better IRA CD rates for a few of its IRA CD terms.

Take a look at the bank’s current deposit rates for October 29, 2011 to November 4, 2011 offered in the District of Columbia:

  • 11 months – 0.15%APY
  • 26 months – 0.55%APY
  • 39 months – 0.90%APY
  • 58 months – 1.15%APY

Compare these IRA CD special rates with the rates offered in Massachusetts below:

  • 11 months – 0.15%APY
  • 26 months – 0.40%APY
  • 35 months – 0.65%APY
  • 58 months – 1.15%APY

DC residents get 0.15%APY more on a 26 months IRA CD compared to Massachusetts residents. In other words, when scouting for better IRA CD rates compare if you can get a rate higher in one state even if you reside in another state. If the bank offers online banking and you are comfortable with it, perhaps it is better to switch banks and go for a bank which can make your money grow faster.

If you live in New York, you get the same rate as that of DC. Wells Fargo IRA Rates in New York are:

  • 11 months – 0.15%APY
  • 26 months – 0.55%APY
  • 39 months – 0.90%APY
  • 58 months – 1.15%APY

Wells Fargo offers IRA CD special rates and standard rates, but people who are up to growing their money faster would most likely opt in for the special rates. So, it is advisable to check your bank more often for special offers. Special rate offers require however a much higher minimum opening deposit.

For example, the above indicated IRA CD special rates require at least $2,500 minimum opening balance compared to standard rates which only require $1,000.

Compare the above rates with what is being offered by Discover or Monona State Bank. You can also check the best IRA CD rates offered by other banks.

 

 

 

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