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Compare U.S. Bank savings accounts

Bank Smartly® Savings Account

Best for

  • Competitive rates across all balance levels
  • Higher yields when paired with Bank Smartly® Checking
  • Easy access to funds and digital budgeting tools

EARN UP TO

3.50% APY

with the presence of a Bank Smartly® Checking, Safe Debit, or Bank Smartly™ Visa Signature® card and a combined qualifying balance of at least $25,000.1

Want to see how relationship rates grow? Consider your initial deposit, add up all your U.S. Bank qualifying balances and check out all the rates.

MONTHLY MAINTENANCE FEE

$5

See how to waive the fee.3

Minimum opening deposit

$25

Start saving Learn more
Elite Money Market Account

Best for

  • Greater interest-earning power
  • Benefits similar to a checking account
  • Easy access to funds when you need them

EARN UP TO

3.50%  APY

when you deposit at least $50,000 into a new Elite Money Market Account or an existing account that was opened within the last 30 days.2

Already have a money market account? Log in and select products and offers to view your personalized rates.4

Monthly maintenance fee

$10

See how to waive the fee.5

Minimum opening deposit

$100

Start saving Learn more

Grow your savings with a certificate of deposit (CD).

CDs may be a good choice if you have some money in savings that you’re unlikely to need right away. They offer a higher interest rate than a traditional savings account in exchange for leaving your money untouched for an agreed upon time.

Minimum opening deposit

$500 up to a maximum of $250,000

Learn more about CDs and see rates.

Already bank with us? Log in and select products and offers to view your personalized rates.

Financial IQ quick tip: Learn how CDs grow your money, when to consider one and what your options are.

Save smarter for retirement.

Open a Retirement Money Market account and build out a retirement plan6 that helps you:

  • Diversify your retirement portfolio6
  • Enjoy competitive, tiered interest rates
  • Access tax advantages
  • Waive monthly maintenance fees

MINIMUM OPENING DEPOSIT

$100 or just $25 with an automatic monthly deposit

Learn more about retirement money market accounts or apply in a branch.

 

Our savings accounts come with the benefits you deserve.

You’ll find features to help you quickly build a budget and easily manage your finances.

Easy-to-waive maintenance fees

Save on maintenance fees if you’re a U.S. Bank Smartly® Checking account holder enrolled in the Smart Rewards® Primary tier or above or meet one of the other fee waiver requirements for a Bank Smartly® Savings Account or Elite Money Market Account.

Overdraft protection

Avoid the inconvenience of an unexpected shortage of funds by linking your account to a U.S. Bank Smartly® Checking account. See Your Deposit Account Agreement for a full list of options.

On-the-go banking

Enjoy industry-leading, secure digital banking tools and services that allow you to bank how, when and where you want.

Get the mobile app

Confidence and security

Get the added protection of the Federal Deposit Insurance Corporation (FDIC). Savings accounts at U.S. Bank are FDIC-insured to the maximum amount allowed by the FDIC. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category.7

Fewer fees, greater access

Save on ATM transaction fees and tap into your savings whenever you need it when you access one of the largest branch and ATM networks in America.8

Custom account alerts

Set up text or email reminders about transfers, low balances and other important account activity.9

Get answers to common questions about savings accounts.

A savings account is a type of bank account that allows you to safely save money while earning interest. Savings can come in the form of a relationship savings account, a money market account or a certificate of deposit (CD).

Start saving in three simple steps:

  1. Apply online: Open a Bank Smartly® Savings account or an Elite Money Market account via our mobile app or online banking in just minutes by answering a few quick questions about yourself. You can also apply in person at any of our 2,100 branches.
  2. Add money to your account: A minimum deposit of $25 for a Bank Smartly® Savings account or $100 for an Elite Money Market account is all it takes to get started.
  3. Maximize your savings: Take advantage of the interest-earning power savings accounts offer and automated savings options that give you a hassle-free way to save when you link your savings account to another U.S. Bank account and set up recurring transfers.

When you deposit money and leave it in a savings account, it will accrue interest over time. You agree to let the bank keep your money for a while (sometimes a set amount of time, as with a CD, and sometimes indefinitely, as with a savings account). In return, the bank gives you a percentage of interest on that cash.

When it comes to savings accounts, there is no one-size-fits-all approach. Individuals have unique financial needs, values and goals, which is why there are often multiple types of accounts with varying fees, interest rates and benefits. Consider your financial habits and future plans to help you determine what makes the most sense for you.

Relationship savings accounts have recently surged in popularity as they give you interest rates that can be comparable to CDs and money market accounts. In addition to competitive starting rates, the interest rate on a Bank Smartly® Savings account gets bumped up as you add a Bank Smartly® Checking account, Safe Debit account or Bank Smartly Visa Signature card. Additionally, the savings rate increases even more as all your U.S. Bank account balances grow. Ready to make your money work smarter and harder? A CD, money market or relationship savings account can help your savings soar.

In exchange for keeping money in your savings account, you earn a financial return on your deposit, known as interest. It gets calculated as a percentage of the balance you maintain in the account. So, if you have $1,000 in your savings account and the interest rate is 2.00% annually, you’d accrue $20 of interest in a year.

Yes, you can easily open a Bank Smartly® Savings account or Elite Money Market account in minutes online.

Resources

Explore helpful tips on smarter ways to save.

Check out these helpful articles to find answers to questions about savings accounts or brush up on other financial topics.

9 simple ways to save

Discover habits that can help you save long-term.

Read more

Savings account interest rates: Myths vs. facts

Read up on common misconceptions about saving.

Read more

Certificates of deposit: How they work to grow your money

Learn how CDs work, when to consider one and your options.

Read more

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Start of disclosure content

Disclosures

  1. The interest rates and APYs for the U.S. Bank Smartly® Savings account are variable, determined at the bank’s discretion, and can change at any time, including after the account is opened.

    Eligibility for an interest rate bump: The interest rate bump is applicable for Bank Smartly® Savings when at least one account owner maintains an open and in good standing eligible product (U.S. Bank Smartly® Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card). Bank Smartly Savings accounts without an eligible product will earn the standard variable interest rate shown above. Smart Rewards® enrollment is not required to qualify for this benefit. The interest rate bump is determined by the combined qualifying balances, as shown above.

    How is the combined qualifying balance calculated: Consumer deposits accounts, U.S. Bancorp Investments* accounts, U.S. Bancorp Advisors** brokerage accounts and Personal Trust*** accounts, where the account is open and you are an account owner, are included in the combined qualifying balance. Note: Balances in business accounts, commercial accounts, and the Trustee only (IFI)**** client relationship do not qualify.

    The Combined Qualifying Balance is calculated separately for each account owner monthly. For Bank Smartly Savings accounts with multiple owners, the owner with the highest combined qualifying balance will be used to determine the interest rate bump balance range. First, the average monthly balance for each qualifying account is calculated separately by adding together the end of day ledger balance for every day in the month and dividing the total by the number of calendar days in that month (or days since account opening within that month). Next, for each month, the average monthly balances for every qualifying account are added together. The Combined Qualifying Balance used to determine the bump interest rate is calculated by adding together the monthly totals for the previous three months and dividing by three (or the number of months available if less than three).

    How is the interest rate bump determined: The initial interest rate bump will be determined by the combined qualifying balance the business day after the Bank Smartly Savings account is opened and the eligible product verification is completed. The interest rate bump is added to the standard interest rate to calculate the interest rate applied to the entire account balance in the eligible Bank Smartly Savings account generally within five business days from account opening. The initial interest rate bump will be valid until the next monthly balance review on the first calendar day of each month. The interest rate bump will be adjusted monthly for any changes in qualifying balances and will be valid through the following calendar month. If the Bank Smartly Savings account is closed, the interest rate bump will cease immediately, and accrued interest will not be paid. If the required eligible product (Bank Smartly Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card) is closed but the Bank Smartly Savings account remains open, the interest rate bump will remain valid until the end of the calendar month.

    Interest information: You must maintain the minimum balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. All rates and APYs are subject to change after the account is opened. Fees could reduce earnings on the account. Interest rates currently offered on applicable deposit accounts are determined at the bank's discretion and may change daily. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for your applicable deposit accounts. Interest will be compounded daily and credited to your account monthly for all savings accounts, except Standard Savings, which is paid quarterly. If you close your account before interest is credited, you will not receive the accrued interest.

  2. How to obtain the rate: This rate is valid on new accounts for clients who do not have an existing consumer money market account or for clients with an existing consumer money market account that has been open for less than 30 days. This rate is not valid for clients with a consumer money market account closed within the last 30 days. Get the Annual Percentage Yield (APY) as noted above by depositing at least $50,000 within 30 days of account opening. A minimum opening deposit of $100 is required to open. If you do not deposit $50,000 within 30 days, the standard interest rate will be applied.

    How to maintain the rate: Deposit at least $50,000 within 30 days of account opening and maintain a minimum daily balance of at least $50,000 each day thereafter. If the account balance falls below $50,000 the standard interest rate will be applied until the account balance is at or above $50,000 again. The interest rates and APYs are determined at the bank’s discretion, and can change at any time, including after the account is opened. Fees will reduce your eligible balance, and deposits are needed to cover these fees to maintain the daily balance for this rate offer.

    The standard interest rate balance tiers and APYs are accurate as of today's date: Under $10,000: 0.01%; $10,000 to $24,999.99: 0.01%; $25,000 to $49,999.99: 0.25%; $50,000 to $99,999.99: 0.25%; $100,000 to $499,999.99: 0.25%; $500,000 and above: 0.25%.

    Interest Information: You must maintain the minimum daily balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for this account. If you close your account before interest is credited you will not receive the accrued interest. Fees could reduce earnings on the account. Other restrictions may apply.

  3. The $5 monthly maintenance fee is waived with the presence of a Bank Smartly® Checking, Safe Debit account, Bank Smartly™ Visa Signature® card, or for accounts with a minor under the age of 18.

  4. Variable rate account – Interest rates are determined at the bank’s discretion and may change at any time. Speak to a banker for current deposit rates, disclosures on rates, compounding and crediting and other balance information.

  5. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included.

  6. This account requires an individual retirement account plan. Retirement Money Market accounts are only available at U.S. Bank branches.

  7. FDIC insured to the maximum allowed by law.

  8. ATM Transaction Fee. U.S. Bank will assess this fee for each ATM Transaction conducted at the Non-U.S. Bank ATM. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the screen.

    ATM Surcharge. Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in MoneyPass®, an ATM surcharge free network. To find MoneyPass ATM locations, select “visit the MoneyPass locator” at the bottom of our ATM locator search results to be taken to the MoneyPass website. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please call us at 800-USBANKS (872-2657) for a refund of the surcharge fee. However, a Non-U.S. Bank ATM Transaction Fee may be assessed on transactions at a MoneyPass ATM.

    Please refer to the Consumer Pricing Information (PDF) disclosure section titled Miscellaneous Checking, Savings or Money Market Fees for a summary of ATM transaction fees.

  9. Text messaging fees – For text alerts, standard messaging charges apply through your mobile carrier and message frequency depends on account settings. Check with your carrier for specific fees and charges. Please be advised that the alerts may not be sent immediately.

Start of disclosure content

Investment and insurance products and services including annuities are:
Not a deposit • Not FDIC insured • May lose value • Not bank guaranteed • Not insured by any federal government agency.

For U.S. Bank:

U.S. Bank is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Investments.

*For U.S. Bancorp Investments:

Investment and insurance products and services including annuities are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank. Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License# 0E24641.

**For U.S. Bancorp Advisors:

Brokerage and investment advisory products and services are offered by U.S. Bancorp Advisors, LLC, an SEC-registered broker-dealer, investment adviser, member FINRA/SIPC, and subsidiary of U.S. Bancorp and affiliate of U.S. Bank National Association.  Insurance products are offered by USBA Insurance Services, a dba of U.S. Bancorp Advisors, having a California domicile and principal place of business at 800 N. Brand Blvd., 16th Floor, Glendale, CA 91203. CA Insurance License #6011694. Products may not be available in all states.

***Personal Trust account balances are the current account balance as of close of the prior day for eligible trust account types that are held for your benefit: IRAs, Agency accounts, Revocable Trust accounts and Custody accounts.

****Trustee (IFI) – The person(s) or entity managing trust assets of the deposit account and distributing property according to the terms defined within the trust document.

Deposit products are offered by U.S. Bank National Association. Member FDIC.