U.S. Bank offers a few competitive certificate of deposit (CD) rates that you don’t often see at larger institutions. The bank, which is headquartered in Minneapolis and has over 2,000 branches in 26 states, offers five types of CD products to help you earn more with your money.
All rates and fees are current as of July 15, 2024, and are subject to change.
U.S. Bank CD rates and products
U.S. Bank offers standard CDs with a set term and interest rate. These are the most common type of CD. However, it also offers a few alternative options, including a CD special, step-up CD, trade-up CD, and business CD. Unfortunately, the only CD offering annual percentage yields (APYs) worth your while is the CD special. The other options are far below the national average CD rates.
CD specials
For higher CD rates, consider a U.S. Bank CD special. These come in seven-, 11-, and 15-month terms and have APYs that exceed national averages. U.S. Bank also says it might offer even better rates if you have an existing relationship with the bank. The minimum deposit requirement for these CDs is larger, but since you’ll be earning a higher APY, you might want to deposit more anyway.
U.S. Bank CD specials
| Term length | APY | Minimum deposit |
|---|---|---|
| 7 months | 4.50% | $1,000 |
| 11 months | 4.00% | $1,000 |
| 15 months | 3.75% | $1,000 |
| 7 months | |
|---|---|
| APY | 4.50% |
| Minimum deposit | $1,000 |
| 11 months | |
| APY | 4.00% |
| Minimum deposit | $1,000 |
| 15 months | |
| APY | 3.75% |
| Minimum deposit | $1,000 |
U.S. Bank CD special features
| Minimum opening deposit | $1,000 |
| Partial withdrawals permitted | Yes |
| Early withdrawal penalty for 7-month and 11-month CD | 90 days’ interest on amount withdrawn |
| Early withdrawal penalty for 15-month CD | 180 days’ interest on amount withdrawn |
| Automatic renewal | Yes |
| Maturity grace period | 10 days |
| FDIC-insured | Up to $250,000 |
Find the best CD for you
Use the widget below to find the CDs with the best rates in your area.
Standard CDs
U.S. Bank’s standard CDs are available in many term lengths, but the interest rate is far lower than average across the board. You can choose anywhere from a one-month to 60-month term. The wide variety of terms is ideal if you want to build a CD ladder.
One important note: U.S. Bank used to have an early withdrawal policy that charged a $25 fee and either half of the interest earned or 1% to 3% of the amount withdrawn. However, beginning July 26, 2024, its policies have been updated to what you see below.
U.S. Bank standard CD features
| Minimum opening deposit | |
| Partial withdrawals permitted | Yes |
| Early withdrawal penalty for terms less than one month | All earned interest on amount withdrawn |
| Early withdrawal penalty for terms one month to less than three months | 30 days' interest on amount withdrawn |
| Early withdrawal penalty for terms three months to less than 13 months | 90 days' interest on amount withdrawn |
| Early withdrawal penalty for terms 13 months to less than 24 months | 180 days' interest on amount withdrawn |
| Early withdrawal penalty for terms 24 months and greater | 365 days' interest on amount withdrawn |
| Automatic renewal | Yes |
| Maturity grace period | 10 days |
| Federal Deposit Insurance Corp. (FDIC)-insured | Up to $250,000 |
Step-up CDs
A unique product is the U.S. Bank step-up CD. Rather than provide a fixed APY for the duration of the 28-month term, U.S. Bank raises the APY every seven months. You'll start at a low 0.05% APY and eventually get to 0.65% APY for the last seven months. By the end of the term, the blended APY works out to 0.35%. While this rate still isn't good, it's better than what you'd get on a similar term with a standard CD.
U.S. Bank step-up CD features
| Minimum opening deposit | $1,000 |
| Partial withdrawals permitted | Yes |
| Early withdrawal penalty for 28-month term | 365 days' interest on amount withdrawn |
| Automatic renewal | Yes |
| Maturity grace period | 10 days |
| FDIC-insured | Up to $250,000 |
U.S. Bank step-up CD rates
| Term length | 28 months |
| APY | 0.05% for first 7 months 0.25% for next 7 months 0.45% for next 7 months 0.65% for last 7 months |
| Minimum deposit | $1,000 |
Trade-up CDs
If you expect U.S. Bank CD rates to rise in the future, you'll want to consider its trade-up CDs. These come in two terms—30 months and 60 months—and allow you to change your interest rate once during your term without penalty. So, if you lock in a 60-month CD at 0.40% APY and the rate jumps to 1.00% APY during your fifth month, you can bump up to the 1.00% APY for the remaining 55 months. To perform this trade-up, you need to visit a U.S. Bank branch in person.
U.S. Bank trade-up CD features
| Minimum opening deposit | $1,000 |
| Partial withdrawals permitted | Yes |
| Early withdrawal penalty for 30- and 60-month terms | 365 days' interest on amount withdrawn |
| Automatic renewal | Yes |
| Maturity grace period | 10 days |
| FDIC-insured | Up to $250,000 |
U.S. Bank trade-up CD rates
| Term length | APY | Minimum deposit |
|---|---|---|
| 30 months | 0.10% | $1,000 |
| 60 months | 0.40% | $1,000 |
| 30 months | |
|---|---|
| APY | 0.10% |
| Minimum deposit | $1,000 |
| 60 months | |
| APY | 0.40% |
| Minimum deposit | $1,000 |
Business CDs
If you own a small business and would like a stable investment, U.S. Bank business CDs could be a good choice. The bank offers a large variety of options, including business CD Specials, jumbo CDs, standard CDs, step-up CDs, and trade-up CDs. These are identical to their individual counterparts, except that you need to apply for them in person.
U.S. Bank business CD features
| Partial withdrawals permitted | Yes |
| Early withdrawal penalty for terms less than one month | All earned interest on amount withdrawn |
| Early withdrawal penalty for terms one month to less than three months | 30 days' interest on amount withdrawn |
| Early withdrawal penalty for terms three months to less than 13 months | 90 days' interest on amount withdrawn |
| Early withdrawal penalty for terms 13 months to less than 24 months | 180 days' interest on amount withdrawn |
| Early withdrawal penalty for terms 24 months and greater | 365 days' interest on amount withdrawn |
| Automatic renewal | Yes |
| Maturity grace period | 10 days |
| FDIC-insured | Up to $250,000 |
| Online application | Not allowed |
U.S. Bank business CD rates
| Product | Term length | APY | Minimum deposit |
|---|---|---|---|
| CD special | 7 months | 4.50% | $1,000 |
| CD special | 11 months | 4.00% | $1,000 |
| Standard CD | 1 month | 0.05% | $500 |
| Standard CD | 2 months | 0.05% | $500 |
| Standard CD | 3 months | 0.05% | $500 |
| Standard CD | 6 months | 0.05% | $500 |
| Standard CD | 9 months | 0.05% | $500 |
| Standard CD | 12 months | 0.05% | $500 |
| Standard CD | 18 months | 0.05% | $500 |
| Standard CD | 24 months | 0.05% | $500 |
| Standard CD | 36 months | 0.10% | $500 |
| Standard CD | 48 months | 0.15% | $500 |
| Standard CD | 60 months | 0.25% | $500 |
| Step-up CD | 28 months | 0.05% for first 7 months 0.25% for next 7 months 0.45% for next 7 months 0.65% for next 7 months | $1,000 |
| Trade-up CD | 30 months | 0.10% | $1,000 |
| Trade-up CD | 60 months | 0.40% | $1,000 |
| CD special | |
|---|---|
| Term length | 7 months |
| APY | 4.50% |
| Minimum deposit | $1,000 |
| CD special | |
| Term length | 11 months |
| APY | 4.00% |
| Minimum deposit | $1,000 |
| Standard CD | |
| Term length | 1 month |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 2 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 3 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 6 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 9 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 12 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 18 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 24 months |
| APY | 0.05% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 36 months |
| APY | 0.10% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 48 months |
| APY | 0.15% |
| Minimum deposit | $500 |
| Standard CD | |
| Term length | 60 months |
| APY | 0.25% |
| Minimum deposit | $500 |
| Step-up CD | |
| Term length | 28 months |
| APY | 0.05% for first 7 months 0.25% for next 7 months 0.45% for next 7 months 0.65% for next 7 months |
| Minimum deposit | $1,000 |
| Trade-up CD | |
| Term length | 30 months |
| APY | 0.10% |
| Minimum deposit | $1,000 |
| Trade-up CD | |
| Term length | 60 months |
| APY | 0.40% |
| Minimum deposit | $1,000 |
Compare U.S. Bank to top competitors
Unfortunately, U.S. Bank CD rates—as with most big banks' CD rates—aren't very competitive unless you're choosing its CD specials. Here's how it compares to a few other banks in the financial space.
 U.S. Bank |  Capital One |  Ally Bank |
|---|---|---|
| 6 months | 6 months | 6 months |
| 4.25 | 4.75 | |
| 12 months | 12 months | 12 months |
| 5.00 | 4.50 | |
| 18 months | 18 months | 18 months |
| 4.45 | 4.25 | |
| 24 months | 24 months | 24 months |
| 4.00 | N/A | |
| 36 months | 36 months | 36 months |
| 4.00 | 4.00 | |
| Learn more | Learn more | Learn more |
| Read our review of U.S. Bank | See more CD rates of Capital One | Read our review of Ally Bank |
Learn more about U.S. Bank
As a large national bank, U.S. Bank offers several additional consumer accounts, including savings accounts, checking accounts, and money market accounts (MMAs). You can also open a debit or credit card through the bank, manage your retirement funds and investments, or take out a personal loan. It also has specific home loans and vehicle loans. Read our full U.S. Bank review to learn more about what this bank offers.
