U.S. Bank Interest Rates: What’s New for 2026?
Written by
Daria Uhlig
Edited by
Nupur Gambhir, CFHC™
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
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
The U.S. Bank Smartly Savings account is a straightforward savings option with a low barrier to entry and a few useful features for managing your money day to day.
Minimum opening deposit: $25
APY:
Monthly maintenance fee: $5, waived if you meet any one of the following conditions:
- You have a U.S. Bank Smartly Checking account, Safe Debit account, or Bank Smartly Visa card
- You are under the age of 18
ATM access: Smartly Savings account holders can use any U.S. Bank ATM fee-free, with no transaction or surcharge charges.
Overdraft protection: Linking your savings account to a U.S. Bank checking account provides free overdraft protection and lets you set up automatic recurring transfers to build your savings consistently.
Account alerts: You can set up email or text notifications for low balances, incoming transfers, and other account activity to stay on top of your finances.
Statements: U.S. Bank automatically archives your account statements online at no charge, so your full transaction history is always accessible when you need it.
One thing to note: U.S. Bank interest rates on savings accounts 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 $12, which is waivable
$7 to $25, waivable
$12, waivable
APY
APY
APY
N/A
N/A
Min Opening
Min Opening
Min Opening
$25
$0 to $25
$50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0 to $5 waivable monthly charge
$5, waivable
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$25
$0 to $25
$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
$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.
| Factor | U.S. Bank Smartly Savings | PNC Standard Savings | Truist One Savings |
|---|---|---|---|
| APY | (non-relationship rate) | ||
| Minimum Opening Deposit | $25 | Not specified | $50 |
| Monthly Fee | $5 | $5 | $5 |
| How To Waive Fee | Hold a Smartly Checking, Safe Debit account, or Bank Smartly Visa card; or be under 18 | Maintain $300 average monthly balance, add a select PNC checking account, or set up an auto savings transfer of $25+ | Maintain $300 minimum daily balance or add a Truist checking account |
| Rate Boost Available | Yes, varies by ZIP code | Yes, with a linked checking account depending on balance | Yes, with a linked Truist checking product |
Account Fees and Accessibility
U.S. Bank Smartly Savings has a $5 monthly fee — but it’s one of the easiest to waive. Simply hold a Smartly Checking account, Safe Debit account, or Smartly Visa card and the fee disappears automatically. Account holders under 18 also qualify for the waiver.
Beyond fees, the account comes with a solid set of everyday banking tools:
- Free online statement archiving so your full account history is always accessible
- Nationwide ATM access with no transaction or surcharge fees at any U.S. Bank ATM
- Mobile deposit for convenient check deposits from your phone
- Customizable account alerts via email or text for low balances, transfers, and account activity
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
Hide Pros, Cons and More
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.
Show Pros, Cons and More
Hide Pros, Cons and More
Is the U.S. Bank Smartly Savings Account Worth It?
The Smartly Savings account won’t win any awards for interest rates — unless you maintain a high balance or open additional U.S. Bank accounts. But what it lacks in yield it makes up for in simplicity. The $5 monthly fee is easy to waive, there are no ATM surprises, and the automatic savings transfers make it genuinely useful for building a consistent savings habit over time.
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 5.00% on balances up to $1,000. Other options that have high APYs include UFB Direct, which offers 3.26%, and TotalDirectBank, which offers a 4.01% 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 April 2, 2026.
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.
