Step Rate CDs (Wells Fargo CD (Time Account))

A Step Rate CD is a 24-month CD featuring guaranteed interest rate increases and penalty-free withdrawals every six months, provided the minimum opening balance is maintained.
Guaranteed rate increases. Guaranteed, automatic rate increases occur at seven, thirteen and nineteen months.
Access to funds. You can make penalty-free partial withdrawals for five business days beginning on each of the days the interest rate increases, provided the minimum opening balance remains on deposit.1 If a rate increase occurs on a weekend or non-business day, the penalty-free partial withdrawal period begins on the next business day.
Bonus rates. Step Rate CD bonus rate and APY are available for the initial 24-month term if you link your Step Rate CD at account opening to a PMA® Prime Checking or PMA® Premier Checking account.

Steps and Time Periods Interest Rate Per Period Bonus Interest Rate2 Per Period
Step One: 1 - 6 months
0.01% 0.06%
Step Two: 7 - 12 months
0.16% 0.21%
Step Three: 13 - 18 months
0.31% 0.36%
Step Four: 19 - 24 months
0.46% 0.51%

For terms less than 12 months (365 days), interest may be paid monthly, quarterly, semi-annually, or at maturity (the end of the term)
For terms of 12 months or more, interest may be paid monthly, quarterly, semi-annually, or annually.

$2,500

24 months

For terms less than three months (or less than 90 days), the fee is one month's interest.
For terms three months (or 90 days) through 12 months (or 365 days), the fee is three months' interest.
For terms over 12 months through 24 months, the fee is six months' interest.
For terms over 24 months, the fee is 12 months’ interest.
The minimum fee is $25.