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WELLS FARGO BANK'S NEW IRA CD GIVES INVESTORS A BONUS RATE

 WELLS FARGO BANK'S NEW IRA CD GIVES INVESTORS A BONUS RATE
 SAN FRANCISCO, March 23 /PRNewswire/ -- As April 15 draws near, many taxpayers search diligently for a smart place to invest retirement dollars. Wells Fargo has introduced the Added Bonus CD, a unique IRA (individual retirement account) investment that gives investors a bonus rate.
 Here's how it works: The Added Bonus CD pays a competitive rate on a two-year CD (4.89 percent yielding 5 percent, as of March 18), then rolls over to a much higher rate for an additional six months (8.16 percent yielding 8.5 percent, as of March 18). Both rates are locked in at the time the account is opened, and a minimum of $2,000 is required.
 "This new CD offers a number of benefits," said Dudley S. Nigg, executive vice president and head of Wells Fargo's Savings and Investments Group. "Customers get two FDIC-insured retirement CDs in one package, locking in competitive rates for a total of 2 1/2 years.
 "Most Americans can still deduct all or part of their IRA contribution from taxable income, so they're smart to take advantage of that deduction when they can by investing in an IRA each year. Even without the tax deduction, investing in an IRA provides tax- deferred interest on your retirement funds."
 Current information about the Added Bonus CD can be obtained at any of Wells Fargo's more than 600 branches throughout California, or by calling 800-BEST-IRA.
 -0- 3/23/92
 /CONTACT: Mary Essary of Wells Fargo Bank, 415-396-3606/ CO: Wells Fargo Bank ST: California IN: FIN SU:


DG-AC -- SF006 -- 0651 03/23/92 14:36 EST
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Publication:PR Newswire
Date:Mar 23, 1992
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