U.S. Bank CD Rates (April 2024)

U.S. Bank CD Rates

U.S. Bank’s CD Specials have terms ranging from seven to 15 months and require a $1,000 minimum deposit. Its competitive, fixed rates are more than twice the national averages, according to the FDIC, for similar terms. Also, you may be able to earn better CD offers if you’re an existing customer.

U.S. Bank CD Term	APY*	Minimum Deposit
7 months	4.75%	$1,000
11 months	4.00%	$1,000
15 months	3.75%	$1,000

Step Up CD

The U.S. Bank’s step-up CD has a 28-month term and a $1,000 minimum deposit requirement. Its APY changes every seven months and averages out to a 0.35% blended APY. While the 0.05% starting rate is very low, you’ll later get rate jumps to 0.25%, 0.45% and 0.65%.

U.S. Bank CD Term	APY*	Minimum Deposit
28 months	0.35% (blended)	$1,000

Trade Up CD

With the trade-up CD, you can ask U.S. Bank to increase your rate once if it later advertises a better one for a CD term similar to the time left on yours. It requires $1,000 to open, and the five-year trade-up CD is more competitive than the five-year standard CD.

U.S. Bank CD Term	APY*	Minimum Deposit
30 months	0.10%	$1,000
5 years	0.40%	$1,000

---

Other Ways To Save With U.S. Bank

If you prefer flexible access to your savings and no early withdrawal penalties, U.S. Bank has traditional savings and money market account options with different minimum opening deposit requirements, fees and variable rates.

U.S. Bank Savings Account	APY*	Monthly Fee	Minimum Deposit
Standard Savings Account	0.01%	$4 (waivable if meet terms)	$25
Elite Money Market Account	0.01% on up to $24,999.99 and 4.25% on $25,000+	$10 (waivable if meet terms)	$100
Retirement Money Market Account	Not disclosed	None	$100 or $25 automatic monthly deposit

Standard Savings Account

The U.S. Bank Standard Savings account requires a $25 initial deposit. It has savings tools, free overdraft transfers (requires a linked account) and an ATM card to use at more than 4,500 fee-free ATM locations. The APY isn’t competitive compared to the 0.46% national average for savings accounts and U.S. Bank’s CD rates.

The low $4 monthly maintenance is avoidable if you meet one of these requirements:

• Your minimum daily balance is at least $300.
• Your average monthly collected balance is at least $1,000.
• You share the account with someone 12 or under.
• You’re a U.S. Bank Smartly Checking customer who’s enrolled at the Smart Rewards Primary tier ($20,000 minimum total account balance).

Elite Money Market Account

Requiring $100 to open, the Elite Money Market account lets you use both checks and a debit card, similar to a checking account. It features the same savings tools and overdraft protection as the savings account, but has a tiered APY structure. 

You earn a very small amount of interest on a balance below $25,000, though the APY goes up as your balance increases. Its top rate is competitive with most U.S. Bank CDs and nearly seven times the 0.66% national average for money market accounts. 

Although there’s a $10 monthly fee, you have two waiver options:

• You’re a U.S. Bank Smartly Checking customer who has reached the Smart Rewards Primary tier.
• You have a minimum daily balance of $10,000.

Retirement Money Market Account

The Retirement Money Market Account comes with no monthly maintenance fee. It requires a $100 minimum deposit or a $25 recurring, automatic monthly deposit. Similar to the Elite Money Market Account, this account offers competitive, tiered interest rates.

This account requires an individual retirement account (IRA) plan to open, and you’ll need to head to a U.S. Bank branch to apply.

---

U.S. Bank CD Rates vs. Competitors

Competing online-only banks offer higher interest rates that far exceed U.S. Bank’s one-year CD APY. Traditional banks also have more competitive options, though they may require making a large deposit or meeting relationship rate requirements. However, U.S. Bank’s $500 minimum deposit amount is less than the $1,000 to $2,500 several other banks require.

Bank	APY on 1-Year CD*	Minimum Deposit	$2,500 Deposit Value at Close of CD
Bank of America	0.03% (fixed-term CD) or 4.00% (flexible CD)	$1,000	$2,500.75 (fixed-term CD) or $2,600.00 (flexible CD)
Capital One	4.90%	None	$2,622.50
Chase	0.01% (standard rate) or 2.00% (relationship rate)	$1,000	$2,500.25 (standard rate) or $2,550.00 (relationship rate)
Citibank	0.05% (no-penalty CD) or 2.00% for balances below $100,000 (fixed-rate CD)	$500	$2,501.25 (no-penalty CD) or $2,550.00 (fixed-rate CD)
Discover	4.70%	$2,500	$2,617.50
Synchrony Bank	4.80%	None	$2,620.00
U.S. Bank	0.05%	$500	$2,501.25
Wells Fargo	1.50% (standard rate) or 1.51% (relationship rate) for balances below $4,999.99	$2,500	$2,537.50 (standard rate) or $2,537.75 (relationship rate)

---

FAQ: U.S. Bank CD Rates

What are the current CD rates at U.S. Bank?

The current CD rates at U.S. Bank range from 0.05% to 4.75% depending on the CD type and term. The CD Specials offer the bank’s best CD rates, and current customers may qualify for higher rates. All U.S. Bank CDs are FDIC-insured.

Can you get 6.00% on a CD?

Although it’s not common to get 6.00% on a CD, you can often find rates exceeding 5.00% through online credit unions and banks. Check for high-yield CDs.

Which bank is paying the highest CD rates?

Online-only financial institutions usually pay the highest CD rates. This is often because they don’t have as many expenses as brick-and-mortar banks.