U.S. Bank savings account rates
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U.S. Bank’s Bank Smartly Savings account earns an annual percentage yield (APY) that increases for higher balances with a qualifying U.S. Bank Smartly checking account, Safe Debit account or a U.S. Bank Smartly Visa Signature card. For this relationship rate, APYs increase based on the amount of your combined qualifying balances, ranging from 1.00% APY to 3.50% APY.
For those without a qualifying checking account, the Bank Smartly Savings account’s APY is the same for all balances and well below the national average savings account APY. It’s also significantly lower than APYs offered on high-yield savings accounts, which are earning around 4% APY.
U.S. Bank earned 3.5 stars out of 5 in Bankrate’s overall rating. For savings accounts, it scored 3.0 out of 5 stars.
U.S. Bank savings account interest rates
U.S. Bank’s Bank Smartly Savings account has multiple APY tiers. For customers who don’t pair the savings account with a qualifying checking account, the APY is 0.05%. For those who do pair it with a qualifying checking account, the APY ranges between 1.00% to 3.50%, based on the amount of combined qualifying balances. For a 3.50% APY, your combined qualifying balance must be at least $100,000.
The Bank Smartly Savings account charges a $5 monthly maintenance fee, which is waived for customers who also have a Bank Smartly Checking, Safe Debit account or a Bank Smartly Visa Signature card. It’s also waived for accounts with a minor under the age of 18.
Here’s a breakdown of U.S. Bank’s savings account APY ranges.
| Account Name | APY | Monthly maintenance fee |
|---|---|---|
| Bank Smartly Savings Account | 0.05% | $5 |
| Bank Smartly Savings Account when paired with a qualifying account | 1.00%—3.50% | $0 |
Note: The monthly maintenance fee is also waived for accounts with a minor under the age of 18. The annual percentage yield (APY) shown is current as of Feb. 3, 2026 and may vary by region.
How U.S. Bank savings rates compare with top-yielding banks
The APY for U.S. Bank’s Bank Smartly Savings account is meager when it’s not paired with a qualifying checking account. Such low APYs are often the case for standard savings accounts at big brick-and-mortar banks. When it’s paired with a qualifying checking account, the Bank Smartly Savings account offers rates above the national average — though you'll need six figures in savings for their best rate.
Savers can get an even higher payout without the hefty minimum balance requirement by opening an account with an online bank, such as LendingClub or Openbank.
Other savings options at U.S. Bank
The institution also offers certificates of deposit (CDs) if you want an alternative to a savings account but still want to bank with U.S. Bank. Its regular CD rates are also quite low, but its special CDs offer a better yield. There are still better options at the top FDIC-insured online banks.
In addition, U.S. Bank offers a money market account, but again, the standard yields are nearly nonexistent. One thing to note: U.S. Bank offers a higher APY for Elite Money Market account holders with balances of $25,000 and above (rates may also vary by location). But you can still find much better APYs elsewhere.