bank rates

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

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

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (6)
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 3.67 out of 5)
6 Existing Comments
  1. Ted said:
    on November 4th at 08:56 pm

    I opened a 59-month CD back when the rate was 4.00% (2009). Very harsh early withdrawal (29.5 months interest). The customer service is not very knowledgeable so don’t expect much help if you need them.

  2. SeniorSaver said:
    on November 5th at 09:29 am

    I no longer have any accounts at US Bank, but I had the same customer service experience there as Ted’s. My impression is that the bank is set up in a way that knowledge about deposit products is in the branch network, not in the online service. In fact, it seems the only information the online CSRs have is the telephone number of your local branch. Once, when I asked a simple question on US Bank’s online chat about IRA account fees, the CSR referred me to my local branch for the answer.

  3. Kathy at Bankaholic said:
    on November 21st at 08:50 am

    U.S. Bank’s 59-month rate is still available.

  4. Kathy at Bankaholic said:
    on November 28th at 09:22 am

    The 59-month rate is still being offered.

  5. Kathy at Bankaholic said:
    on December 5th at 08:59 am

    You can still get this rate.

  6. Mike Cetera said:
    on January 20th at 02:46 pm

    It looks like U.S. Bank has cut this rate to 2.15% APY.