US Bank Interest Rates: How to Get the Bank’s Best Rates

U.S. Bank is a full-service financial institution with a wide range of products, from checking and savings accounts to home mortgages and investments. The bank interest rates you can find at U.S. Bank vary on a number of factors, ranging from your credit score to the amount of money you have on deposit with the bank. Here’s a look at the major product categories at U.S. Bank, along with current interest rates and suggestions on how you can get the best rates at the bank.

US Bank Checking Account Interest Rates

Although you can earn interest on a U.S. Bank checking account, rates are low. Regardless of the amount you deposit, you’ll earn just a 0.01% APY, below the national average of 0.04 percent. Things improve a bit with the bank’s range of money market accounts:

• Standard Money Market, with rates from 0.04 percent to 0.05 percent
• Elite Money Market, with rates from 0.04 percent to 0.06 percent
• Package Money Market Savings, with rates from 0.04 percent to 0.07 percent
• Platinum Select Money Market Savings, with rates from 0.05 percent to 0.10 percent

The key to the higher rates with all of these accounts is to deposit more money. For the Standard account, deposits of $10,000 or higher get the best rates. For Platinum, $50,000 puts you in position to earn top-tier interest, whereas Package and Elite U.S. Bank money market accounts require you to deposit at least $100,000 to receive top interest rates.

For the most part, rates are slightly below the national average of 0.09 percent.

US Bank Mortgage Interest Rates

Home loan interest rates at U.S. Bank come in all shapes and sizes, from three-year ARMs to 30-year fixed FHA and 15-year fixed jumbo loans. Unlike with the bank’s checking and money market accounts, a larger loan doesn’t necessarily qualify you for better home loan rates.

At U.S. Bank — as with most banks — a higher credit score is the key to the best rates. The rates quoted by U.S. Bank assume you have a high credit score of at least 740 and that you’re buying a single-family home as your primary residence. You can expect your rate to climb higher if your credit score is lower or you’re purchasing a different type of property.

Related: 10 Best National Banks of 2018

The national average 30-year rate mortgage rate is 4.22 percent, whereas the 15-year rate stands at 3.68 percent. By way of comparison, here’s a sample of mortgage rates at U.S. Bank:

• Fixed-rate mortgage: 3.875% APR to 4.375% APR
• FHA loan: 4.250% APR to 4.375% APR
• Jumbo loans: 4.125% APR to 4.375% APR
• ARM: 3.375% APR to 4.000% APR

US Bank Savings Interest Rates

U.S. Bank offers three types of savings accounts, the Standard Savings account, Star Savers Club and the Goal Savings account. Unfortunately, there is nothing you can do as a customer to get a higher savings account interest rate, as the bank pays the same 0.01 percent rate regardless of which type of account you open or the amount you deposit. U.S. Bank’s savings rate ranks below the national average savings rate of 0.06 percent.

Learn More: Cost of a U.S. Bank Cashier’s Check

US Bank CD Interest Rates

You can open a CD account with a maturity of between one month and 60 months at U.S. Bank. The longer you have your money on deposit, the higher the interest rate you will earn. Rates start at 0.05 percent for maturities from one month to nine months and increase to 0.75 percent for the 60-month CD.

For each maturity term, U.S. Bank pays below the national average. For example, the 12-month CD national average is 0.29 percent, but U.S. Bank pays 0.10 percent. For the bank’s best certificate of deposit rates, take advantage of the special rates for specific maturities that the bank offers:

• 19 months: 0.75 percent
• 37 months: 1.49 percent
• 59 months: 1.73 percent

Learn: Here’s Your U.S. Bank Routing Number

US Bank Auto Loan Interest Rates

Auto loans at U.S. Bank can be as low as 3.70 percent. To qualify for the lowest rate, you must take out a three-year loan for at least $10,000, and the loan-to-value percentage must be 100 percent or less.

Your rate is also based on your credit score, so a higher score will give you the best chance of qualifying for the lowest rate. The national average rate for a 60-month new car loan is 4.51 percent.

US Bank Personal Loan Interest Rates

A personal loan can be used for almost anything, and it doesn’t require any collateral. As a result, rates tend to be higher than for other types of loans.

To qualify for U.S. Bank’s best rate of 7.49% APR, you’ll need a credit score of at least 760, and you’ll need to sign up for automatic payments. Loans qualifying for this rate range from $5,000 up to $25,000, with terms of 12 to 48 months.

Up Next: 7 Reasons Why You’re Getting That Interest Rate Today

Rates are accurate as of Jan. 28, 2018.