U.S. Bank Offers Top 59-Month CD Rates

U.S. Bank’s 59-month CD rates are not only good enough to lead the 60-month term on our CD Rates Leaderboard, they’re available to savers nationwide.

It’s paying 2.25% APY with a $1,000 minimum deposit.

U.S. Bank (www.usbank.com) has 3,000 branches in 24 western and Midwestern states.

In the past, it hasn’t been unusual for this Minneapolis-based bank — like a number of big banks — to offer decent CD rates specials.

But what’s most interesting is this 59-month special is just a quarter point less than what U.S. Bank was paying on a special it offered last fall.

Compare that to the national leader on the 60-month term. Quaint Oak Bank currently offers the top nationally available deal at 2.20% APY with a $500 minimum deposit

That rate is more than three-quarters of a percentage point less than the national leader paid last fall.

As we’ve warned in the past, stay away from U.S. Bank’s regular-term CDs. They’re bad.

For example, its 12-month CDs pay a pathetic 0.10% APY. That’s even less than the awful national average rate offered by banks and thrifts: 0.35% APY.

U.S. Bank offers two other odd-term specials, a 19-month CD and a 37-month CD. Neither of those beat the best nationally available CD rates in the corresponding terms.

U.S. Bank sells its certificates of deposit online, at branches or over the phone to its checking account customers.

See how these returns compare with the best CD rates from scores of banks in our extensive database.