U.S. Bank Interest Rates: What’s New for 2025?
Written by
Daria Uhlig
Edited by
Emily Gadd
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Your savings journey should be as unique to you as the checking and savings accounts you choose to help mold and guide your financial goals. Whether you want a user-friendly mobile banking app or want to secure overdraft protection, a savings account can help. Savings accounts also earn an annual percentage yield that will help your money grow.
What Are the Current U.S. Bank Savings Rates?
The Smartly Savings account is the primary savings option offered by U.S. Bank. It also offers a Basic Business Savings account. Here’s a look at the U.S. Bank savings account interest rates for each account:
| Account | APY |
|---|---|
| Bank Smartly Savings | Up to |
| Basic Business Savings |
Types of U.S. Bank Savings Accounts
Here’s what you need to know about U.S. Bank’s Smartly Savings and Basic Business Savings accounts.
U.S. Bank Smartly Savings Account
There is one personal savings account offered by U.S. Bank. The U.S. Bank savings account interest rate for this high-yield savings account is APY. Compared to the national average of 0.41%, it’s a pretty competitive rate.
Smartly Savings account holders can use any U.S. Bank ATM without paying a transaction or surcharge fee. If you also have a checking account, you can link the savings account to it for free overdraft protection. Linking your accounts also lets you automate savings with recurring transfers from the checking account.
To better manage your money, you can set up email or text account alerts to notify you when your balance gets low and alert you to transfers and other account activity. To review all of your activity, log in to your account online to view your statements — U.S. Bank automatically archives them free of charge.
Here are some key takeaways on the Smartly Savings account:
- You need a relatively low $25 minimum deposit to open the account.
- There is a $5 monthly maintenance fee that can be waived with any one of the following:
- If the account holder has a Bank Smartly checking account, Safe Debit account or Bank Smartly Visa card
- If the account holder is under the age of 18.Â
It’s important to note that U.S. Bank interest rates may vary depending on your ZIP code.
U.S. Bank Basic Business Savings Account
The Basic Business Savings account offers an APY of . There is a $500 minimum daily balance requirement for this account to avoid the monthly maintenance fee.
While you can open a business account no matter how your business is structured — including if you’re a sole proprietor — regular customers are more likely to open the Smartly Savings account at U.S. Bank.
Comparing U.S. Bank To Competitors
Comparing the accounts of similar banks can help you make an informed choice about whether a particular bank is right for you.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Up to $6.95, which is waivable
$7 to $25
$12, waivable
APY
APY
APY
N/A
N/A
Min Opening
Min Opening
Min Opening
$25
$0
$50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$5 monthly
$5, waivable
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$25
$0
$25 to $50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
No monthly service fee
No monthly service fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$500
$250 to $1,000
$1,000
How Do U.S. Bank Rates Stack Up?
One of the top features of savings accounts is the interest rates. Here’s how U.S. Bank compares to PNC Bank and Truist Bank.
U.S. Bank vs. PNC Bank
PNC Bank’s Standard Savings account offers a APY. However, adding a checking account can raise the rate, depending on your balance. The PNC account has a $5 monthly service fee you can waive with a $300 average monthly balance, the addition of a select PNC checking account or an auto savings transfer of at least $25 each statement period.
U.S. Bank vs. Truist Bank
Truist Bank’s equivalent savings account is Truist One Savings. It offers a non-relationship APY of . The Truist account has a minimum $50 opening deposit and a $5 monthly maintenance fee you can waive with a minimum daily ledger balance of $300 or the addition of any related Truist checking product.
Account Fees and Accessibility
When it comes to fees, U.S. Bank’s Smartly Savings account offers flexibility in waiving the $5 monthly maintenance fee. This option is for customers who link a Smartly Visa card, Smartly checking account or Safe Debit account. Alternatively, the fee is waived for account holders under 18.
U.S. Bank provides customers with access to a large ATM network and digital tools like account alerts and mobile deposits. While PNC and Truist offer online banking tools, their fee waiver options and ATM network don’t stand up to U.S. Banks.
Other Savings Options at U.S. Bank
If you want to branch out, U.S. Bank still has you covered with a variety of certificates of deposit as well as a money market account.
Elite Money Market Account
The U.S. Bank Elite Money Market account is a high-yield account that combines features of savings and checking accounts. While it’s intended primarily for saving, you can access your funds by using your debit card, writing a check or transferring money into another account.
Best For
National Banks
Branch Locations
Mobile App
Banking in Arizona
Banking in California
High APY Yield Up to
U.S. Bank’s Elite Money Market Account requires only a $100 minimum deposit to open, offers check-writing privileges and has options to waive the $10 monthly fee for customers.
Fees
$10, waivable
APY
Up to
Min Opening
$100
Pros
- Qualifying new accounts earn up to APY.
- $100 minimum opening deposit
- Check-writing privileges
Cons
- Need $50,000 to earn best rate
- Low APY rate for balances under $25,000
- Need a high balance to waive monthly fee
Quick Take
The Elite Money Market Account has a high maximum APY, but bank customers with less than $25,000 in savings are better off with Bank Smartly Savings.
Show Pros, Cons and More
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CDs
U.S. Bank CDs are offered in term lengths of one month to five years, which let you plan your savings in a way that best suits your short-term and long-term goal timelines. Standard CDs require just $500 to open, and while the rates differ between one term and another, you earn the same rate no matter what your balance.
Best For
National Banks
Branch Locations
Mobile App
Banking in Arizona
Banking in California
4 Different CD Types To Choose From
U.S. Bank offers a variety of CDs with competitive rates on CD Specials, but standard CDs have lower APYs, with minimum deposits ranging from $500 to $1,000 depending on the type.
Fees
No monthly service fee
APY
Up to
Min Opening
$500
Pros
- Several CD varieties to choose from
- Highly competitive rates on CD Specials
Cons
- Low rates on standard CDs
Quick Take
U.S. Bank’s standard CDs offer higher APYs than its savings account, but opt for a CD special for the best rates.
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Final Take
While the U.S. Bank savings interest rate is lower unless you maintain a high balance or open additional accounts, a basic account like Smartly Savings won’t chip away at your balance with high fees, and the auto savings options helps you build a regular savings habit.
FAQ
Here are the answers to some frequently asked questions about savings account interest rates.- Which bank is giving 7% interest on savings accounts?
- There is no bank in the U.S. currently offering 7% interest on a savings account. If you're looking for returns of 7% or more, consider investing instead — just keep in mind that investing comes with risk.
- Which U.S. bank has the highest interest rate?
- GOBankingRates found that Digital Federal Credit Union has one of the highest APYs for its Primary Savings account, at 5.50% on balances up to $1,000. Other options that have high APYs include UFB Direct, which offers 4.01%, and TotalDirectBank, which offers a 4.67% APY for balances of $2,500 and up in its money market account.
- Will my U.S. Bank savings account earn interest?
- Yes, your U.S. Bank savings account will earn interest.
Caitlyn Moorhead contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of March 31, 2025.
Rates may vary by region. To verify rates in your area, check the bank’s website for details.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
