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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 US bank savings rates?
The Smartly Savings Account is the primary savings option offered by US Bank. It also offers a basic business savings account. Here’s a look at US bank savings account interest rates for each account:
| Account | APY |
|---|---|
| Bank Smartly Savings | till |
| basic business savings |
Types of US Bank Savings Accounts
Here’s what you need to know about US Bank’s Smartly Savings and Basic Business Savings accounts.
US Bank Smartly Savings Account
The US Bank Smartly Savings Account is a straightforward savings option with low barriers to entry and some useful features for managing your money day-to-day.
Minimum Initial Deposit: $25
APY:
Monthly Maintenance Fee: $5 will be waived if you meet one of the following conditions:
- You have a US Bank Smartly Checking Account, Safe Debit Account or Bank Smartly Visa Card
- You are under 18 years of age
ATM Access: Smartly Savings account holders can use any US Bank ATM fee-free, with no transaction or surcharge fees.
overdraft protection: Linking your savings account to a US bank checking account provides free overdraft protection and lets you set up automatic recurring transfers to continually grow your savings.
Account Alert: You can set up email or text notifications for low balances, upcoming transfers and other account activity to stay on top of your finances.
statement: US Bank automatically stores your account details online at no charge, so your complete transaction history is always accessible when you need it.
One thing to note: US bank interest rates on savings accounts may vary depending on your zip code.
US Bank Basic Business Savings Account
The Basic Business Savings Account offers an APY . This account requires a minimum daily balance of $500 to avoid monthly maintenance fees.
Although you can open a business account, no matter how your business is structured – including whether you’re a sole proprietor – regular customers are more likely to open a Smartly Savings account at US Bank.
Comparison of US Bank with competitors
Comparing accounts from similar banks can help you make an informed choice about whether a particular bank is right for you.
Up to $12, which is forgivable
$7 to $25, waiving
$12, waivable
minimum opening
minimum opening
minimum opening
No monthly service fee
$0 to $5 waived monthly fee
$5, waivable
minimum opening
minimum opening
minimum opening
No monthly service fee
No monthly service fee
No monthly service fee
minimum opening
minimum opening
minimum opening
How do US bank rates rise?
One of the top features of savings accounts is the interest rates. Here’s how US Bank compares to PNC Bank and Truist Bank.
| Factor | US Bank Smartly Savings | PNC Standard Savings | Truist One Savings |
|---|---|---|---|
| APY | (non-relationship rate) | ||
| Minimum Initial Deposit | $25 | not specified | $50 |
| monthly fee | $5 | $5 | $5 |
| How to waive fees | Bank Smartly Checking, Secure Debit Account, or Bank Smartly Visa Card; or be under 18 years of age | Maintain an average monthly balance of $300, add a select PNC checking account, or set up an auto savings transfer of $25+ | Maintain a $300 minimum daily balance or add a Truist checking account |
| Rate increase available | Yes, varies by zip code | Yes, with linked checking account based on balance | Yes, with a linked Truist checking product |
Account Fees and Access
US Bank Smartly Savings has a $5 monthly fee – but it’s one of the easiest to waive. Simply keep a Smartly Checking account, secure debit account, or Smartly Visa card and the fees will automatically disappear. Account holders under the age of 18 are also eligible for the discount.
In addition to fees, the account comes with a solid set of everyday banking tools:
- Free online statement storage So that your complete account history is always accessible
- Nationwide ATM access No transaction or surcharge fees at any US bank ATM
- mobile deposit For convenient check deposits from your phone
- Customizable Account Alerts Via email or text for low balance, transfers and account activity
Other Savings Options at US Bank
If you prefer to branch out, US Bank still offers a variety of certificates of deposit as well as money market accounts for you.
elite money market account
The US Bank Elite Money Market Account is a high-yield account that combines the features of savings and checking accounts. Although the purpose is primarily for savings, you can access your funds by using your debit card, writing a check, or transferring money to another account.
best for
National Bank
branch location
mobile application
Banking in Arizona
Banking in California
US Bank’s Elite Money Market Account requires only a $100 minimum deposit to open, offers check-writing privileges and has the option to waive the $10 monthly fee for clients.
Pros
- Earn up to eligible new account APY.
- $100 minimum initial deposit
- check-writing privileges
Shortcoming
- $50,000 needed to earn the best rate
- Less APY rate for balances less than $25,000
- High balance required to waive monthly fee
take it quickly
The Elite Money Market account has a higher maximum APY, but Bank Smartly Savings is better for bank customers with less than $25,000 in savings.
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CD
US bank CDs are offered in terms of one month to five years, letting you plan your savings in a way that best suits your short-term and long-term goal timeframes. Standard CDs only require $500 to open, and while rates vary between one period and the next, you earn the same rate no matter what your balance is.
best for
National Bank
branch location
mobile application
Banking in Arizona
Banking in California
4 different CD types to choose from
US Bank offers a variety of CDs with competitive rates on CD specials, but standard CDs have a lower APY, with minimum deposits ranging from $500 to $1,000 depending on the type.
fees
No monthly service fee
Pros
- Many CD varieties to choose from
- Highly Competitive Rates on CD Specials
Shortcoming
- Low rates on standard CDs
take it quickly
US Bank’s standard CD offers a higher APY than its savings account, but opt for the CD special for the best rates.
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Is US Bank’s Smartly Savings Account Worth It?
The Smartly Savings Account won’t win any awards for interest rates – unless you maintain high balances or open additional US bank accounts. But what it lacks in yield, it easily compensates for. The $5 monthly fee is easy to waive, there are no surprises at the ATM, and the automatic savings transfers make it really useful for building a consistent savings habit over time.
FAQ
Here are answers to some frequently asked questions about savings account interest rates.- Which bank is offering 7% interest on savings account?
- At present no bank in America is offering 7% interest on savings account. If you’re looking for returns of 7% or higher, consider investing instead – just keep in mind that investing comes with risk.
- Which US bank has the highest interest rates?
- GOBankingRates found that Digital Federal Credit Union’s Primary Savings Account has one of the highest APYs 5.00% On balances up to $1,000. Other options with higher APY include UFB Direct, which offers 3.26%and TotalDirectBank, which offers 4.01% APY for balances $2,500 and more in your money market account.
- Will I earn interest on my US bank savings account?
- Yes, you will earn interest on your US bank savings account.
Caitlin Moorehead contributed reporting to this article.
Rates are subject to change; Unless otherwise noted, rates are updated periodically. All other information on the 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 of the entities involved in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are solely those of the author and have not been reviewed, approved or otherwise endorsed by any entity named in this article.