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U.S. Bank CD rates

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U.S. Bank CD Special
1-year APY
3-year APY
5-year APY
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible. Rates vary by state and zipcode.

Our verdict

This bank offers high APYs on its special CDs — but you’ll need to make a $1,000 deposit.

U.S. Bank’s CDs are best for those wanting to invest in a long-term CD and those that already use the bank for its other products. You’ll find the highest interest rates by opening a promotional CD called a CD Special, which reaches 0.30% for a three-year term or 0.75% APY for a five-year term.

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.

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U.S. Bank offers a wide selection of CDs, and you might enjoy the assurance of depositing money with a fiscally stable, longstanding bank. Its standard CDs have the same rates regardless of state and are pretty typical in the market. But its special CDs offer rates as high as 4.30% APY for the longest terms — and those rates vary based on where you live.

Overview of U.S. Bank‘s CD rates

U.S. Bank offers four types of CDs:
  1. U.S. Bank Standard CD
  2. U.S. Bank CD Special
  3. U.S. Bank Step Up CD
  4. U.S. Bank Trade Up CD

All four types of CDs come with an industry standard of 10 days as a grace period, when you can withdraw funds and close the CD without penalty. Interest compounds daily, and depending on the type of CD you choose, you need a deposit of at least $500 to $1,000.

Its site also states that if you’re a current U.S. Bank customer, you may qualify for higher rates, but there’s no further information on what those may be.

U.S. Bank‘s standard CD rates

Long-term U.S. Bank customers might consider its standard CD options. While the APYs are lower than other options, they’re more constant — so if you want to renew the CD for more than one term, you’ll get a similar APY as when you first opened the account.

CD termAPYMinimum deposit
1 month0.05%$500
2 months0.05%$500
3 months0.05%$500
6 months0.05%$500
9 months0.05%$500
12 months0.05%$500
18 months0.05%$500
24 months0.05%$500
36 months0.10%$500
48 months0.15%$500
60 months0.25%$500

U.S. Bank CD Special rates

U.S. Bank CD Special come with significantly higher rates than its standard CDs. However, CD Specials requires a minimum $1,000 deposit, which is $500 more than what you’ll deposit with a standard CD. However, rates vary by term and location.

Here’s the range you can expect to earn with a special CD:

CD termAPYMinimum deposit
7 months4.55% to 4.20%$1,000
11 months4.65% to 4.30%$1,000
15 months4.75% to $1,000
19 months4.75% to 4.30%$1,000

Other types of CDs

Aside from its standard and special CDs, U.S. Bank also offers Step Up CDs and Trade Up CDs.

Its Step Up CDs offer a rate increase every seven months, starting at 0.05% APY and ending at 0.65% APY, resulting in a blended APY of 0.35%.

Its Trade Up CDs may be a good option if you anticipate its standard CDs might rise. These CDs allow you to trade up your CD for a higher rate once before its maturity date. To get started, visit a branch and choose a rate from a standard CD with a term length that closely matches or is equivalent to the remaining time on your current CD. This way, you get a fair rate based on the remaining time on your CD.

CD typeCD termAPYMinimum deposit
Step Up CDs28 months$1,0000.35% (blended)
Trade Up CDs30 or 60 months$1,0000.10% to 0.40%

More about U.S. Bank‘s CDs: Deposits, fees and details

What it isDetailsHow it compares to the market
Minimum Deposit
  • Standard CD: $500
  • CD Special: $1,000
  • Step Up CD: $1,000
  • Trade Up CD: $1,000
Its standard CD’s minimum deposit is low compared to other banks.
Term range1 to 60 months, varies by programThis is typical as most CD terms range from 12 months to five years.
Early withdrawal penaltiesTerms six months or less face a 1% penalty of the amount you withdraw or all interest will be withdrawn, plus a $25 penalty.

Terms six months or longer face either a 1% penalty of the amount you withdraw or all interest is withdrawn (whichever is greater), plus $25 penalty.

Compared to other banks that penalize you on the number of days of earned interest, this penalty is harsher — especially considering the additional $25 fee.
Grace period10-day grace period without penalty. Interest is paid only on funds if the amount withdrawn is deposited into another certification at U.S. Bank.Typical amongst competitors.

Cashout and rollover details

To cash out your CD, withdraw funds or make an interest-only withdrawal, you must call or visit a U.S. Bank branch. You can also make appointments through its site or mobile app.

How U.S. Bank‘s CDs and rates compare

U.S. Bank‘s standard CDs offer lower rates than the national average. For example, its one-month CDs sit at 0.05% APY, while the national average for this term is 0.26%, according to the Federal Deposit Insurance Corporation (FDIC). You also only need $500 to get started, which is on the lower end for minimum opening deposits.

If you’re hoping to snag a higher rate, its CD Special rates offer higher yields based on location, starting at 4.55% APY for the shortest term of seven months. To compare, the national average for six-month CDs is 1.19% APY. But you need to deposit at least $1,000 to open a special CD.

Overall, U.S. Bank‘s CD terms and grace period are all typical in the industry. It’s a financial institution with solid footing and a long history of nearly 100 years in business.

Convinced U.S. Bank‘s CDs are for you? Start an application right now.

Compare U.S. Bank to competitor rates

Narrow down top CDs by APY and minimum deposits to find the best one for your financial goals. Select Compare for up to four products to see their benefits side by side.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
Earn competitive rates up to 4.85% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Bread Savings CDs
Finder Rating: 3.8 / 5: ★★★★★
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
Alliant Credit Union CDs
Finder Rating: 4.8 / 5: ★★★★★
Alliant Credit Union CDs
Lock in rates as high as 5.40% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
Get 4.71% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.

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Bethany Finder

Writer, Banking and Loans

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