US Bank Summary

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

US Bank Key Features

✓ Competitive interest rates to grow your savings
✓ Earn up to 3.50% APY
✓ Minimum deposit requirement $25

U.S. Bank Smartly® Savings Account

Tiered Interest (APY):

  • Standard APY when held alone: 0.05%

  • With a qualifying U.S. Bank product (Smartly® Checking, Safe Debit account, or Smartly™ Visa Signature card), you unlock relationship tiers:

    • Under $5,000 combined balance: 1.00% APY

    • $5,000–$24,999.99: 2.50% APY

    • $25,000–$99,999.99: 3.00% APY

    • $100,000 and above: 3.50% APY

Fees & Account Minimums:

  • $5 monthly maintenance fee, which is waived if you have a qualifying U.S. Bank account or if the account is held jointly with a minor.
    Minimum to open: $25

How Interest Rates Work:

  • Rates are variable and depend on both the base savings balance and “relationship rate bumps” determined by your Combined Qualifying Balance (CQB). This includes balances in eligible checking, savings, money market, CDs, IRAs, trusts, and brokerage accounts.

  • CQB is calculated daily and averaged over 90 days to determine your tier. The tier can change based on daily or monthly balances.

Elite Money Market Account

If you’re looking for more flexibility, U.S. Bank offers the Elite Money Market Account, offering features like check-writing and debit card access.

  • APY: Up to 3.50%, typically available on new or existing accounts with at least $50,000 deposited.

  • Monthly Maintenance Fee: $10, which can be waived under certain conditions.

Summary Table

Feature Smartly® Savings Elite Money Market
Base APY (Alone) 0.05% Varies (high rate requires ≥$50K)
Max Relationship APY Up to 3.50% Up to 3.50%
Minimum to Open $25 $100 minimum
Monthly Fee $5 (waivable) $10 (waivable)
APY Structure Tiered via CQB + relationship rate High rate with high balance
Access Features Standard savings access Adds check/debit access

Is It Right for You?

Best Use Cases:

  • Smartly® Savings is well-suited for savers with existing U.S. Bank products who can maintain substantial balances to unlock higher APYs.

  • Elite Money Market caters to high-balance savers seeking flexibility with check and debit access.

Consider Alternatives If:

  • You prioritize consistently high yields with fewer requirements—many online-only high-yield savings accounts offer 4–5% APY with low or no fees.