bank rates

Bank On U.S. Bank’s Special CD Rates

Most of U.S. Bank’s regular CD rates are way below average.

But the three specials it’s offering on odd-term certificates of deposit are worth considering:

Most of U.S. Bank's regular CD rates are way below average, but its three odd-term speicals are well worth considering.19-month CDs that earn 1.15% APY, which is more than the average return of 0.90% on 24-month CDs.

32-month CDs that earn 1.50% APY, which is more than the average return of 1.18% APY for 36 month CDs.

59-month CDs that earn 2.50% APY, which is more than the average return of 1.71% for 60-month CDs.

If those returns were available on traditional CDs they still wouldn’t come close to making our most recent CD Rates Leaderboard.

But it fits the pattern we see with big banks like this – they all offer at least a few CDs that pay average, or slightly better than average, returns.

In fact, U.S. Bank’s odd-term rates are among the best we’ve recently found at Chase, Bank of America, Citibank and Wells Fargo.

Those CD specials are available nationwide and can be purchased through the U.S. Bank Web site.

You have to visit one U.S. Bank’s 3,000 branches in 24 states western and Midwestern states to discover what it’s paying on traditional CDs — and it’s not hard to see why.

Who would buy a 6-month CD paying 0.15% APY or a 1-year CD for 0.25% APY? That’s less than half the national average return.

Nor would anyone in their right mind buy a 60-month CD for 1.90% APY when you can make considerably more with a 59-month CD.

The teaching moment for savers who currently own U.S. Bank CDs is also clear: If your CD is maturing this fall, you must ask to have it reinvested in one of the odd-term specials. You’ll get hosed if you sit back and allow it to roll-over into a traditional term.

Click here to compare these returns the best CD rates from scores of other banks.

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Comments (2)
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  1. Jerry said:
    on September 20th at 10:58 am

    Good info. Thanks for posting. Seems like the big banks usually don’t have any deals going.

  2. CrankySaver said:
    on November 4th at 08:56 am

    The 19- and 59-month specials are still good as of Nov. 4, 2010. But U.S. Bank has replaced the 32-month CD with a 37-month CD that’s paying 1.70% APY.