A benefit of U.S. Bank’s certificates of deposit is the many terms offered, but they’re not the best choice for savers keen on finding the best yields available.

The bank offers standard CDs with terms ranging from one month to five years. It also offers several CD Specials. While its promotional CDs have more compelling rates, better yields can easily be found elsewhere.

U.S. Bank earned 3.6 stars out of 5 for its CDs and an overall rating of 3.4 out of 5.

U.S. Bank CD rates

Term lengths for U.S. Bank’s CDs range from one month to five years. Each term’s annual percent yield (APY) is the same, regardless of balance. The minimum balance required is $500 and the maximum allowable CD balance is $250,000. An early withdrawal fee applies to withdrawals prior to the end of the term.

Here’s more information about U.S. Bank’s standard CD rates.

Account name Term APY Minimum deposit
CD 1 month 0.05% $500
CD 2 months 0.05% $500
CD 3 months 0.05% $500
CD 6 months 0.05% $500
CD 9 months 0.05% $500
CD 1 year 0.05% $500
CD 18 months 0.05% $500
CD 2 years 0.05% $500
CD 3 years 0.10% $500
CD 4 years 0.15% $500
CD 5 years 0.25% $500

U.S. Bank offers more competitive rates on its Special CDs. Special CDs come in four terms. A $1,000 minimum deposit is required to earn the special rate.

Here’s more information about U.S. Bank’s special CD rates.

Account name Term APY Minimum deposit
CD Special 11 months 3.80% $1,000
CD Special 17 months 3.90% $1,000
CD Special 25 months 4.00% $1,000

Note: Annual percentage yields (APYs) shown are as of Jan. 19, 2023, and may vary by region for some products.

How U.S. Bank CD rates compare with top-yielding banks

U.S. Bank CD rates are low compared with many other banks. Some competitors, especially online banks, pay up to 4.75% APY on one-year CDs. Keep in mind, however, that some banks may have lower minimum deposit requirements but fewer term options.

U.S. Bank’s CD Specials are its only CD products that offer somewhat competitive rates. But you can still find certificates of deposit offered by other banks, like First Internet Bank or Marcus by Goldman Sachs, that offer better rates to help you reach your financial goals sooner.

Other savings options at U.S. Bank

In addition to standard and CD Specials, U.S. Bank offers Step Up and Trade Up CDs.

The Step Up CD gives you an automatic interest rate increase every seven months during the CD’s 28-month term, with an overall blended APY of 0.35 percent. The Trade Up CD lets you boost your rate one time if rates go up during the CD’s 30-month or five-year term.

U.S. Bank also offers a savings account and money market account.