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However, the highest interest rate is 3.45% — its single-term CD specials have fairly competitive rates.
|Early withdrawal penalty||1% for terms of 1 to 6 months + a flat $25 |
1% for terms of 7 to 12 months + a flat $25
3% for terms of 13 + months + a flat $25
|Minimum deposit to open||$5,000|
Amy Stoltenberg manages newsletters at Finder, gathering the best articles each week to help subscribers save money and stretch their hard-earned dollars. She also handles the Twitter account, dabbling in Instagram and Facebook too. When she's not on the computer, you can find her exploring Los Angeles with a good book in tow. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report.
For reference, if you put $2,000 in a U.S. Bank CD Special for five years, you’ll earn: $2,000 x 0.75% x 60 months = $76.42.
Put the same balance in a five-year Discover CD, and you’ll get: $2,000 x 3.25% x 60 months = $352.88.
If you’re hoping for higher interest rates overall, U.S. Bank isn’t the best option available. Browse the CD market to see what other banks have to offer before settling on one.
You’ll send in an application online to get started with one of U.S. Bank‘s CDs.
You must be 18 years or older and a legal resident of the US to qualify.
You’ll need the following information handy to open a CD with U.S. Bank:
Along with FDIC insurance, perks of opening a CD with U.S. Bank include:
The highest APY you can earn is with U.S. Bank which top out at 0.75%. In comparison, its standard CDs top out at 0.25%. See how much you can earn with US Banks CD special interest rates.
|Term length||APY||Amount in savings||Approx. interest at maturity|
As a brick-and-mortar bank, U.S. Bank has high overhead costs which tend to equal less competitive CD interest rates. Its highest APY is 3.45% over a 60-month term.
That rate is lower than many high-APY savings accounts available from online banks. And if you opt for a savings account, you won’t have to lock up your money, so you’ll gain greater access through a high-yield savings account over a CD.
|Term length||Penalty (whichever is greater)|
|Up to 6 months|
Also note that once the CD starts, you won’t be able to add money until it matures. If you’re hoping for a CD with more flexible fine print, look for a no-penalty CD — though keep in mind that these generally have less competitive APYs.
Compare other banks and their CDs based on their interest rates across different term lengths. When you’re ready, choose Go to site to apply for your choice CD.
US Bank currently sees a 1.3 rating out of 5 stars on Trustpilot, based on about 500 reviews. Customers complain about unhelpful customer service, declines on their credit card or account transactions and difficulty with their automated phone service.
However, positive reviews focus on smooth in-person service and a dedication to helping customers solve problems. Keep in mind that any national bank will garner reviews on both sides and that many reviewers leave their remarks after having an overly negative experience.
When the term on your U.S. Bank CD ends, you have 10 days to withdraw the funds before it automatically renews.
Get a hold of customer service in one of several ways.
U.S. Bank CD is not currently available on Finder
Have you considered Western Alliance Bank 12 months CDs through SaveBetter?
Get 5.01% APY on a 12 month CD, and earn an APY that’s 14.8x higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
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