bank rates

U.S. Bank Still Beats Top 5-Year CD Rates

Bank pays 2.00% APY on its 59-month CDs.If you’re looking at top long-term, nationally available CD rates, U.S. Bank’s 59-month special remains a good option.

It doesn’t pay quite as well as last fall, but it still tops the best 5-year deal on our CD Rates Leaderboard.

U.S. Bank pays 2.00% APY with a $1,000 minimum deposit.

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

For months it has been offering a 59-month deal that tops the best 5-year CDs. It has twice cut its rate from the 2.25% APY it was offering last fall.

But the 2.00% APY beats all nationally available bank deals and most offers from credit unions that allow anyone in the U.S. to join.

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: 0.34% APY.

U.S. Bank offers two other odd-term specials, a 19-month CD and a 37-month CD. Neither of those are competitive with the best nationally available deals in the nearest 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.

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Comments (4)
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4 Existing Comments
  1. Muda said:
    on March 2nd at 12:54 pm

    Belvoir Federal C. U. Pays 2.10% for 60 months CD with minimum $1000 depost.
    http://belvoircreditunion.org/

  2. Kathy at Bankaholic said:
    on March 19th at 08:28 am

    U.S. Bank’s special 60-month rate is still available.

  3. Kathy at Bankaholic said:
    on April 3rd at 07:56 am

    U.S. Bank is still offering its special 60-month rate.

  4. Kathy at Bankaholic said:
    on April 17th at 09:22 am

    You can still get the special 59-month rate.