Savings accounts
Make your savings work as hard as you do.
You have goals, and we have a variety of savings accounts designed to help you reach them. Open a new Elite Money Market Account today and earn up to 4.50% APY (Annual Percentage Yield) on balances of $25,000 or more. Rates vary by balance and location.1
Standard Savings Account
Offers first-time savers and those with low balances a hassle-free way to save
Monthly maintenance fee
Minimum opening deposit
Retirement Money Market
Offers U.S. Bank individual retirement account holders3 tax advantages and diversification
Monthly maintenance fee
Minimum deposit requirements
What is a savings account?
A savings account is a safe place to hold your money. It’s meant to help you build your money for the future. There are several types of savings accounts including:
- Basic savings
- Money market
- Certificates of deposit
What are the differences between the three types of savings accounts?
A savings account is meant to help you grow your money or set aside funds for a specific goal, such as a large purchase or a safety net fund. All U.S. Bank savings accounts accrue interest.
A money market account is a cross between a checking and a savings account. It offers the debit card and check-writing features of a checking account with the interest-bearing nature of a savings account only with higher interest rates.
A certificate of deposit (CD) account offers a higher interest rate than a traditional savings account, but you must leave your money untouched for an agreed upon time. This time period is known as the term length. If you withdraw your funds before the term is done, you usually need to pay an early withdrawal penalty and/or fee.
All our savings accounts include:
- Branches in more than 25 states
- One of the largest ATM networks in America
- No surcharges at MoneyPass® Network ATMs4
Find a branch or ATM near you, in the app or at locations.usbank.com.
How to get a monthly maintenance fee waiver
Standard Savings Account
Do any one of the following:
- Maintain a $300 minimum daily balance5
- Keep a $1,000 average monthly collected balance6
- Hold the account jointly with an individual age 17 and under7
- Open a U.S. Bank Smartly® Checking account and enroll in the Smart Rewards® Primary tier or above
Elite Money Market Account
- Maintain a $10,000 minimum daily balance5
- Open a U.S. Bank Smartly® Checking account and enroll in the Smart Rewards® Primary tier or above
Retirement Money Market Account
No monthly maintenance fee
Take control of your financial wellness.
Bank Smartly® with U.S. Bank by tapping into an array of tools, programs and resources that work together to put you - and keep you - on the road to financial wellness.
Download the U.S. Bank Mobile App and explore ways to manage cash easily, move money safely and save and spend wisely.
Learn more about personal finance.
Check out these helpful articles to find answers to questions about savings accounts or brush up on other financial topics.
Make your accounts work harder for you.
Learn which type of account to use to achieve your financial goals.
Does your savings plan match your lifestyle?
You already have short- and long-term goals in mind. The next step is figuring out the most effective way to save.
How saving gives you peace of mind
Healthy money habits deliver a sense of well-being, no matter how much you earn.
Take the next step
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