US Bank Savings Account Interest Rates for June 2026

U.S. Bank's savings account rate sits at just 0.01% APY, meaning a $10,000 deposit earns roughly a dollar a year in interest. The bank discontinued its old Standard Savings branding structure in November 2024, but the single savings option it now offers still pays far below the national average.

Anyone comparing where to park cash should know upfront that U.S. Bank's strength lies in its branch network and everyday banking convenience, not in what it pays savers. If growth on your balance matters more than walking into a physical branch, the math here is not close.

What U.S. Bank Actually Pays and Charges

U.S. Bank runs one personal savings product, and it requires just $25 to open. The account compounds interest daily and credits it to your balance quarterly, which sounds appealing until you look at the actual rate: 0.01% APY, regardless of how much you keep in the account.

That flat rate applies whether you have $25 or $250,000 sitting there. There is no tiered structure that rewards larger balances with better yield, which is common at other banks. On top of the weak return, U.S. Bank charges a $4 monthly maintenance fee on the account.

How to Get the Monthly Fee Waived

The $4 charge is not unavoidable. U.S. Bank offers several paths to a waiver, and most savers should be able to qualify for at least one:

• Keep a daily balance of $300 or more in the account
• Maintain a $1,000 average monthly collected balance (calculated by adding each day's principal together and dividing by the number of days in the statement period)
• Hold the account jointly with someone age 17 or younger
• Open a U.S. Bank checking account and enroll in the Smart Rewards Primary tier or higher, which requires total balances between $20,000 and $49,999.99 and can unlock other perks tied to that program

ATM use adds another wrinkle worth knowing. Withdrawals at U.S. Bank ATMs carry no fee, but pulling cash from an out of network machine costs $2.50 per transaction.

Weighing the Trade Offs

U.S. Bank operates in 26 states and counts as one of the largest banks in the country, so its branch and ATM footprint is a genuine convenience for people who like in person banking or need cash access without a fee. If you already bank there for checking, the Standard Savings account is an easy add on, especially since the fee waiver options are fairly reachable.

The downside is straightforward: a 0.01% yield does almost nothing to grow your money. Inflation alone erodes purchasing power faster than that rate can offset, and the gap between U.S. Bank's savings yield and top online savings accounts is enormous. Layering a $4 monthly fee on top of a near zero return makes the account a poor place to build savings, even though deposits remain protected by FDIC insurance up to $250,000.

U.S. Bank does offer other deposit products worth a look if you want to stay with the bank. Its money market accounts and certificates of deposit sometimes carry yields well above the national average for those categories, and the CD lineup includes some variety: standard CDs with occasional promotional rates, step up CDs that lock in scheduled rate increases, and trade up CDs that let you capture a higher rate later if rates climb after you open the account.

Comparing U.S. Bank Savings to Other Options

Because U.S. Bank's own savings rate is so low, it makes sense to look at what else is available before committing new cash there. A few alternatives stand out depending on what you need from an account.

• High-yield savings accounts: These typically come from online banks and often pay 10 to 12 times the national average rate, while still carrying FDIC insurance.
• Certificates of deposit: If you can lock money away for a set term, CDs generally pay more than standard savings accounts, and U.S. Bank's own CD lineup is more competitive than its savings product.
• Money market accounts: These blend savings style yields with check writing ability, useful if you want occasional access without a full checking account.
• Savings account bonuses: Some banks and credit unions offer cash bonuses to attract new depositors, which can add value on top of whatever rate the account pays.

Minimum deposit requirements vary by product at U.S. Bank. The savings account needs just $25, but money market accounts and CDs often require $100 to $1,000 to open, so factor that in if you are choosing between products at the same bank.

Is There Any Reason to Choose U.S. Bank Savings Right Now

The honest answer depends entirely on what you value. If a nearby branch, an existing checking relationship, or the ability to waive fees easily matters more to you than yield, the account still functions fine as a place to stash an emergency cushion. But for anyone whose main goal is growing savings, U.S. Bank's 0.01% rate offers little incentive to keep meaningful cash there when accounts paying dramatically more are just a few clicks away. Shopping around before committing new deposits remains the simplest way to avoid leaving money on the table.