U.S. Bank Increases the Interest Rate On Its CD Special Account To 4.30% APY (December 2022)

Summary:

In response to the recent federal funds rate increases, U.S. Bank has increased the maximum APY for its CD Special account – now up to 4.30% APY.

On December 14th, 2022, Federal Reserve officials raised the federal funds rate, for the seventh time this year. The Fed rate increased by half a percentage point, nudging financial institutions to increase the interest rates they offer savers.

U.S. Bank now offers up to 4.30% APY

U.S. Bank increased the APY on its CD Special account to now offer between 2.9% and up to 4.30% APY depending on deposit term and savers location. U.S. Bank CD Special is a CD (certificate of deposit) that offers a very competitive annual percentage yield (APY).

The U.S. Bank CD Special account offers a range of terms between 9 and 25 months. You will need to deposit a minimum of $1,000 to open a CD Special account.

At a top rate of 4.30% APY, U.S. Bank offers some of the most competitive yields available today.

U.S. Bank Smartly Checking

For those who want to keep their savings and general banking together in one place, U.S. Bank offers a competitive checking product with its U.S. Bank Smartly Checking service.

Key takeaways

  • U.S. Bank has increased the annual percentage yield (APY) on its CD Special account
  • The APY on the CD Special account ranges from 2.9% to 4.30% depending on the deposit term and the location of the saver
  • The U.S. Bank CD Special account is a certificate of deposit (CD) product
  • The CD Special account has terms ranging from 9 to 25 months
  • A minimum deposit of $1000 is required to open a CD Special account

About U.S. Bank

U.S. Bank is a financial services company based in the United States. It is the fifth largest bank in the United States by assets and is a subsidiary of U.S. Bancorp, a diversified financial services company. U.S. Bank offers a range of financial products and services, including checking and savings accounts, credit cards, loans, and investment products. The bank has branches and ATMs in many states across the country, as well as online and mobile banking options. It also offers wealth management and commercial banking services to businesses and organizations.