U.S. Bank offers personal and business savings accounts. If you currently hold a U.S. Bank savings account or are thinking about signing up, here’s everything you need to know about U.S. Bank savings account interest rates.
Keep in mind that rates may be different based on location. We used the New York City zip code 10001. Savings account rates and details as of 03/03/2025.
How To Find U.S. Bank Savings Account Interest Rates
Whether you’re shopping for a savings account as a consumer or a business owner, you’ll have to consider potential interest rates.
U.S. Bank Savings Rates for Consumers
Currently, U.S. offers two savings accounts for consumers: the U.S. Bank Smartly® Savings and the U.S. Bank Elite Money Market Savings Account.
Depending on your balance, U.S. Bank Smartly® Savings currently pays 0.05% to 3.50% APY.
As a relationship savings account, U.S. Bank Smartly Savings offers higher interest rates if you connect another eligible U.S. Bank account, and rates increase as the total balance across your accounts grows.
If you have a U.S. Bank Smartly® Savings plus a U.S. Bank Smartly® Checking, U.S. Bank Safe Debit Account or a U.S. Bank Smartly™ Visa Signature® Card*, you’ll unlock higher interest rates. The exact rate you earn will depend on your total balance across qualifying accounts, which include your U.S. Bank checking, savings, money market, CD, IRA, investment and personal trust accounts.
U.S. Bank Smartly® Savings account
Annual Percentage Yield
Up to 3.50% APY
Minimum Deposit Requirement
$25
Monthly Maintenance Fee
$5
Member FDIC
Up to 3.50% APY
$25
$5
Amplify the power of your tax refund or annual bonus with a U.S. Bank Smartly® Savings account.
Earn more on your money with U.S. Bank Smartly® Savings, the relationship account built around you.
- Competitive interest rates to grow your savings.
- Unlock even higher rates. Earn up to 3.50% APY when you pair U.S. Bank Smartly® Savings with an additional eligible product and have combined qualifying balances of at least $100,000. Additional rates available and vary by balance tier.
- Waive your monthly maintenance fee when you maintain a U.S. Bank Smartly® Checking, Safe Debit account or U.S. Bank Smartly™ Visa Signature® Card .
Member FDIC.
| U.S. BANK SMARTLY SAVINGS OR COMBINED BALANCES LESS THAN $5,000 | U.S. BANK SMARTLY SAVINGS OR COMBINED BALANCES $5,000-$24,999.99 | U.S. BANK SMARTLY SAVINGS OR COMBINED BALANCES $25,000-$49,999.99 | U.S. BANK SMARTLY SAVINGS OR COMBINED BALANCES $50,000-$99,999.99 | U.S. BANK SMARTLY SAVINGS OR COMBINED BALANCES OF $100,000 OR MORE |
|---|---|---|---|---|
| 1.00% APY | 2.50% APY | 3.00% APY | 3.00% APY | 3.50% APY |
For example, if you connect an eligible account, have a U.S. Smartly Savings balance of $10,000 and a total balance of $20,000 in your connected accounts, you’ll earn a 2.50% APY on your savings account balance. If your total qualifying balance then grows to $50,000, your rate will increase to 3.00% APY. Without a relationship, you’ll earn the standard rate of 0.05% APY.
This account has a $5 monthly fee that’s waived with an account relationship. To open U.S. Bank Smartly Savings, you’ll need to make a minimum deposit of $25.
And here’s what you may see if you look for savings rates on the U.S. Bank Elite Money Market Savings Account, which offers tiered interest rates based on your daily balance.
| DAILY BALANCE | APY |
|---|---|
| Under $10,000 | 0.01% |
| $10,000 - $24,999.99 | 0.01% |
| $25,000 - $49,999.99 | 0.25% |
| $50,000 - $99,999.99 | 3.25% |
| $100,000 - $499,999.99 | 3.25% |
| $500,000 and above | 3.25% |
If you have an existing U.S. Bank account but aren’t sure about your APY, you can call the bank’s customer service and ask for your account’s current interest rate.
U.S. Bank Savings Rates for Business Customers
To find U.S. Bank’s savings account interest rates for business accounts, visit the business savings rates page, enter your ZIP code if prompted and you’ll see current savings rates for small business savings and money market accounts.
All of U.S. Bank’s savings accounts for business customers offer a tiered rate structure. Below is an example of the rates you might see on the U.S. Bank Basic Business Savings Account.
| DAILY BALANCE | APY |
|---|---|
| Under $5,000 | 0.05% |
| $5,000 and above | 0.05% |
U.S. Bank has several options for small business money market accounts. The U.S. Bank Premium Business Money Market Account requires a minimum opening deposit of $100 and earns minimal interest. The U.S. Bank Preferred Business Money Market Account earns slightly more on higher balance tiers but requires you to maintain a minimum balance of $1,000, and the U.S. Bank Platinum Business Money Market Account earns the highest rates but requires you to maintain a minimum balance of $10,000.
Currently, U.S. Bank is also offering promotional APYs on business money market accounts with balances greater than or equal to $25,000 and less than $3 million. With this bonus, you’ll earn up to 4.08% APY (up to 4.00% bonus interest rate) if your balance is between $25,000 and $2,999,999.99. Balances of $24,999.99 or less earn a 0.05% APY. These APYs only apply to new U.S. Bank Platinum Business Money Market Account openings.
How U.S. Bank Savings Rates Compare
U.S. Bank interest rates on savings accounts are solid, though you can find higher rates with other high-yield savings accounts. Plus, U.S. Bank’s best savings rates require you to maintain a high balance. Several of the best online banks offer rates that are just as or even more attractive but without the high balance requirement.
If you want to earn more on your savings, consider one of the best high-yield savings accounts. With savings rates as competitive as they are in 2025, moving money from an account earning little interest into a high-yield savings account is wise.
How To Open a U.S. Bank Savings Account
You can open a new U.S. Bank savings account online, over the phone or in person at a branch. To open an account online, visit the U.S. Bank savings account landing page, choose the account you want and select “Start saving” to begin an online application.
If you currently bank with U.S. Bank, you can access a quicker application process by logging into your account. When you apply for a U.S. Bank savings account online, you’ll be prompted to log in if you have an existing account.
Finally, U.S. Bank frequently offers promotional bonuses to new customers who open checking and savings accounts. Check out current U.S. Bank bonus offerings if you’re considering opening a U.S. Bank savings account.
Find The Best High-Yield Savings Accounts Of 2025
How Often Is Interest Compounded on U.S. Bank Savings Accounts?
All U.S. Bank savings accounts compound interest daily. The bank calculates interest earned using a daily periodic rate applied to your daily balance. Although interest is compounded daily on all U.S. Bank savings accounts, it is generally paid monthly.
How Do I Close My U.S. Bank Savings Account?
If you currently hold a U.S. Bank consumer savings account, you can close your account over the phone or via a written request. To close your account over the phone call 1-800-US-BANKS (872-2657) and speak with a customer service representative. There’s no option to close your account using the automated phone system, so you must speak with a representative.
Alternatively, savings customers can submit a written request to close an account. Include your account number and signature and send the request to:
Customer Care Unit
PO Box 64991
Saint Paul, MN 55164-9505
Small business owners can close a savings account by calling the small business customer service line at 1-888-329-7179.
Finally, both consumers and small business customers can close accounts by visiting a U.S. Bank branch location.
How To Find Your U.S. Bank Savings Account Number
Following these steps to access your U.S. Bank savings account number.
- Log into your account at usbank.com.
- Select “My Accounts” at the top of the page to view a list of your accounts.
- Select your savings account.
- Select “Show” in the “Account Overview” section to view your full account number.
You can also find your savings account number using the U.S. Bank mobile app. First, select your account, then tap “Account options” and “View account information.” Finally, select “Account number” to view your routing number and account number.
If you don’t have access to U.S. Bank’s online banking portal or mobile app, you’ll need to go into a branch to retrieve your account number. U.S. Bank representatives are not able to provide account numbers over the phone.
Bottom Line
Most U.S. Bank savings account interest rates are much higher than the national average, but are not among the highest rates you can find. However, if you plan to keep a high balance and are open to relationship banking, you’ll earn a respectable APY.
Interested in an American Express High Yield Savings Account?
On American Express National Bank's Website, Member FDIC
