US Bank CD (certificate of deposit) rates an review
U.S. Bancorp (NYSE: USB), with $265 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
US Bank offers certificate of deposit accounts, money market accounts as well as other FDIC insured savings vehicles which help your money grow over time.
To open a US Bank deposit product, you will need to visit one of your local branches to apply. Rates vary from branch to brach. Some of the deposit rates available nationwide through US Bank are listed below. These deposits require a minimum deposit of $1,000 to open.
US Bank CD Rates:
- 21 month CD pays interest rate of 1.00% and 1.01% APY. Interest is paid annually and at maturity.
- 42 month CD pays interest rate of 1.98% and 2.00% APY. Interest is paid annually and at maturity.
- 59 month CD pays interest rate of 2.71% and 2.75% APY. Interest is paid annually and at maturity.
- Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate.
- All interest payments for the advertised APY will be made at the end of the term or annually, whichever occurs first.
- Penalty will be imposed for early withdrawal.
- APY is subject to change without prior notice.
- CDs are automatically renewed at maturity.
- Online application is not valid for single maturity CDs, business or retirement CDs, brokerage deposits, institutional investors, public funds or in conjunction with other promotional offers.
Interest rates paid on deposit products have dropped significantly over the course of 2009. Earlier this summer US Bank was paying 4.0% APY on their 59 month CD, this rate has now dropped to a much more modest 2.75% APY.
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