U.S. Bank savings account rates

U.S. Bank’s Standard Savings account has multiple interest rate tiers, but they all earn the same APY regardless of balance. There is a $4 monthly maintenance fee, which can be waived by keeping a $300 daily balance or $1,000 monthly balance. The fee is also waived for account holders age 17 and younger.

Here’s a breakdown of U.S. Bank’s savings account.

Note: The annual percentage yield (APY) shown is current as of July 18 and may vary by region.

The yield for U.S. Bank’s Standard Savings Account is meager. It earns minimal interest, which is the case for standard savings accounts at many other big brick-and-mortar banks. Savers can get a much higher payout by opening an account with an online bank, such as Ally Bank or Marcus by Goldman Sachs.

The institution also offers certificates of deposit (CDs) if you want an alternative to a savings account but still want to bank with U.S. Bank. Its regular CD rates are also quite low, but its special CDs offer a competitive yield. There are still better options at the top FDIC-insured online banks.

The bank also offers a money market account, but again, the standard yields are low. So, you can find better APYs elsewhere. One thing to note: U.S. Bank offers a hefty bonus APY for Elite Money Market account holders with balances of $25,000 and above (rates may also vary by location).