US Bank CD

Claimed

in CD Accounts from U.S. Bank · Member FDIC

Not enough votes for recommendation

Highlights
APY (Annual Percentage Yield)	0.05% - 0.25% (Verified 08/04/2023)
Minimum Opening Deposit	Starting at $500
Certificate Term	1 month 3 months 6 months 9 months 12 months 18 months 2 years 3 years 4 years 5 years

US Bank CD Review

US Bank CD are offered by U.S. Bank, a bank founded in 1863 and based in Minneapolis, MN. US Bank CD are available in 50 states (and Washington, DC).

Key Takeaways

Low APY. The maximum annual percentage yield for this account is only 0.25%.
$500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
Wide selection of CD terms. US Bank CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of US Bank CD

Pros	Cons
FDIC insured. Multiple CD terms available. Available in all 50 states. High-interest yield.	There isn't a no-penalty CD option.

US Bank CD FAQ

Are CD from U.S. Bank federally insured?

Yes, your U.S. Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #6548). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does U.S. Bank offer?

US Bank CD provides the following types of CDs.

Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.
IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but US Bank CD offers a CD that is specifically for retirement.

What rates does U.S. Bank offer on its CDs?

US Bank CD offers an APY starting at 0.05% and ranging up to 0.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does US Bank CD offer?

U.S. Bank offers CD terms of the following lengths:

US Bank CD Rates & Terms
Description
APY (Annual Percentage Yield)	0.05% - 0.25%
3-Month APY	Up to 0.05%
6-Month APY	Up to 0.05%
12-Month APY	Up to 0.05%
2-Year APY	Up to 0.05%
3-Year APY	Up to 0.10%
4-Year APY	Up to 0.15%
5-Year APY	Up to 0.25%

What is the minimum deposit to open a CD account with U.S. Bank?

US Bank CD require a minimum deposit of $500 to open an account.

What is the grace period for US Bank CD?

US Bank CD does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does U.S. Bank charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

U.S. Bank does not charge an early withdrawal fee.

U.S. Bank does charge any of the fees we track.

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