APY Range
0.05% to 3.25%
U.S. Bank CD Rates and Review (October 2026): CD Specials vs Standard CDs
Short answer
U.S. Bank's CD Special rates on October 3, 2026 were 3.25% APY for 6 months, 3.15% for 9 months and 3.00% for 12 months, with a $1,000 minimum (ZIP 55402; rates vary by ZIP). The advertised Special APYs are only for new CD clients with no existing U.S. Bank CD, and standard CDs pay 0.05% to 0.25%, which is also what a Special renews into at maturity.
Rates on this page were checked October 3, 2026 on usbank.com for ZIP 55402 (Minneapolis, MN). U.S. Bank prices CDs by ZIP code and says CD Special rates may change daily, so check your own ZIP before you open. For reference (latest checks, September 2026): The best nationally available 5-year CDs paid 4.35% to 4.50% APY (DepositAccounts, September 24, 2026); and A-rated 5-year MYGAs topped out around 5.50% to 6.05% (public carrier rate sheets, October 14, 2026). The Fed's target range is 3.75% to 4.00% (raised September 16, 2026, +0.25 point).
Hero stats · US Bank CDs
FDIC Cert #
6548
Bank Size
5th-largest US bank ($670B assets)
Min Deposit
$1,000
EWP
90-730 days interest
As of
2026-10-03
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
U.S. Bank CD rates today (October 2026)
U.S. Bank shows CD Special and Standard CD rates after you enter a ZIP code. These are the APYs usbank.com showed on October 3, 2026 for ZIP 55402:
| CD and term | APY |
|---|---|
| CD Special, 6 months | 3.25% |
| CD Special, 9 months | 3.15% |
| CD Special, 12 months | 3.00% |
| Standard CD, 1, 2, 3, 6, 9 and 12 months | 0.05% |
| Standard CD, 18 and 24 months | 0.05% |
| Standard CD, 36 months | 0.10% |
| Standard CD, 48 months | 0.15% |
| Standard CD, 60 months | 0.25% |
Source: U.S. Bank CD Special and Standard CD rate pages (usbank.com), "APY is effective October 03, 2026 for ZIP code 55402." Special: $1,000 minimum, $250,000 maximum. Before a ZIP is entered the Special page advertised "starting at" 3.35% for 5 months; your ZIP may differ.
Does U.S. Bank have CD specials right now?
Yes. On October 3, 2026 U.S. Bank advertised CD Specials of 6, 9 and 12 months (3.25%, 3.15% and 3.00% APY in ZIP 55402). The fine print matters: the advertised APYs are for new CD clients who do not have any existing U.S. Bank CD, and not for anyone who closed a U.S. Bank CD in the past 60 days. Existing clients are told to log in or ask a banker for a personalized offer, and you can open online.
What happens when a U.S. Bank CD Special matures?
The Special rate is good for the first term only. U.S. Bank's disclosure says the CD renews automatically for the same term at the published standard rate for the term closest to but not over yours. A 12-month Special at 3.00% renews at the 12-month standard rate, 0.05% on October 3, 2026. On $100,000 that drops yearly interest from about $3,000 to about $50.
Which banks are paying 4% on CDs?
Not U.S. Bank at the moment: its best ZIP 55402 Special was 3.25%. The best nationally available 1-year CDs paid 4.35% to 4.50% APY (DepositAccounts, September 25, 2026), mostly online banks, and PNC's 13-month promo paid 4.25% on October 3, 2026 (see PNC CD rates). 52-week Treasury bills yielded 4.48% (U.S. Treasury, September 25, 2026) with no state income tax; see Treasury bills explained.
Rate alert
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
We’ll email you when a rate on this page changes. Hans Goldstein · NPN 20602398.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
From my desk: Hans Goldstein, licensed insurance producer (NPN 20602398)
The question I ask anyone holding a U.S. Bank CD is simple: do you already have a CD there? The Special rates on the page are for new CD clients only, so a long-time customer often sees a lower personalized offer when they log in. Read that before you drive to a branch.
The second check is the renewal. U.S. Bank renews a Special into the standard rate for the same term. On October 3, 2026 that was 0.05% for 12 months, so I tell people to set a reminder a week before maturity and decide where the money goes next.
Example ($250,000, 5 years, before taxes): the 60-month standard CD at 0.25% ends near $253,100. An A-rated 5-year MYGA at 5.50% (low end of the 5.50% to 6.05% range, public carrier rate sheets, October 14, 2026) ends near $326,700, about $73,600 more. A MYGA's rate is guaranteed by the issuing insurer and backed by its claims-paying ability rather than the FDIC, with surrender charges, so it is for money you will leave alone. See CD vs MYGA.
Pros and cons
Pros
- CD Specials up to 3.25% APY (6 months, ZIP 55402, October 3, 2026)
- Branches in 26 western/midwestern states
- FDIC-insured (Cert #6548)
- $1,000 minimum is low
- Specials can be opened online
Cons
- Advertised Special APYs are only for new CD clients
- No Special longer than 12 months in ZIP 55402
- Standard CDs pay 0.05% to 0.25%
- EWP can hit 730 days interest on 60+ month CDs (steepest in the megabank tier)
- Auto-renewal defaults to Standard rate, not Special
Why this CD is so much lower than online competitors
US Bank operates ~2,200 branches with a relatively efficient cost structure for its size, which lets it run short CD Specials (3.00% to 3.25% in ZIP 55402 on October 3, 2026). On Standard CDs at 0.25% the bank is pricing for inertia (customers who won't move money). The 730-day EWP on long-term CDs is a defensive moat: it discourages early-withdrawal arbitrage if rates fall and US Bank wants to keep the cheap deposits.
The branch-overhead math
A megabank branch costs roughly $1 to 2M per year to operate (real estate, staffing, security, utilities, IT, compliance). Multiply across thousands of branches and the bank’s effective cost of deposits is 2 to 3% before paying you a dime. An online bank with zero branches can pass nearly that entire spread back to depositors as APY. That’s why the best online 1-year CDs paid 4.35% to 4.50% (DepositAccounts, September 25, 2026) while big-bank standard CDs pay close to zero.
Better alternatives at higher APY
If branch access isn’t critical for you, these alternatives currently pay materially more on the same FDIC-insured deposit:
- Marcus CDs: online-only, $500 minimum
- Synchrony 5-Year CD: among the top 5-year CDs at 4.35% (DepositAccounts, September 24, 2026)
- Capital One 360 5-Year CD: 3.60% (September 24, 2026), no minimum
For a 30+ bank comparison at the 5-year point, see Best 5-Year CD Rates 2026.
When a MYGA beats this CD
A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: lock a fixed rate for a fixed term, with no market loss on principal; the guarantee rests on the insurer’s claims-paying ability rather than the FDIC. The pricing gap vs. a megabank CD is dramatic.
Math at $250,000 over 5 years (before taxes):
- U.S. Bank 60-month standard CD at 0.25% (October 3, 2026): about $253,100
- 5-year MYGA at 5.50% (low end of A-rated range, September 24, 2026): about $326,700
- Difference: about $73,600
MYGAs also defer tax on interest until withdrawal. CDs are taxed annually as ordinary income whether you touch the interest or not. The trade-off: MYGAs have a fixed surrender schedule (usually with 10%/yr free withdrawal); CDs have shorter penalty periods. For taxable retirement money you don’t plan to touch for the full term, the MYGA usually comes out ahead. See CD vs MYGA Comparison.
FAQ: US Bank CDs
What's the current U.S. Bank CD rate?
On October 3, 2026 (ZIP 55402), CD Specials paid 3.25% APY for 6 months, 3.15% for 9 months and 3.00% for 12 months. Standard CDs paid 0.05% through 24 months, 0.10% for 36, 0.15% for 48 and 0.25% for 60 months.
Who qualifies for the U.S. Bank CD Special rate?
U.S. Bank says the advertised APYs are for new CD clients with no existing U.S. Bank CD, and not for clients who closed a U.S. Bank CD in the past 60 days. Existing clients get personalized offers in online banking or from a banker. Minimum $1,000, maximum $250,000.
Is the US Bank CD FDIC-insured?
Yes. U.S. Bank, N.A. is FDIC-insured (Cert #6548) to $250,000 per depositor, per ownership category.
What's the early withdrawal penalty?
Varies by term: 90 days interest for under 6 months; 180 days for 6-23 months; 365 days for 24-47 months; 540 days for 48-59 months; 730 days for 60+ months. One of the steepest EWP schedules among megabanks.
Can I open the Special CD online?
Yes. The CD Special page (October 3, 2026) says opening online is easy: enter a ZIP, choose a deposit range and term. Online opening is not available for retirement, business or single-maturity CDs.
What happens at maturity?
The CD renews automatically for the same term at the published standard rate for the closest term not over yours, not the Special rate. A 12-month Special renews at 0.05% (October 3, 2026). Plan your move before maturity.
Should I consider a MYGA instead?
For 5-year money, compare. U.S. Bank's 60-month standard CD paid 0.25% on October 3, 2026; A-rated 5-year MYGAs paid about 5.50% to 6.05% (public carrier rate sheets, October 14, 2026). A MYGA defers tax until withdrawal but has surrender charges and is backed by the insurer, not the FDIC.
Related reading
- Best 5-Year CD Rates 2026: 30+ banks compared
- CD vs MYGA: which one fits your money?
- Best MYGA Rates 2026: current top carriers
- Why megabank CD rates are so low
- Wells Fargo CD rates and Bank of America CD rates compared
Before you lock in: see what a MYGA pays at the same term
Hans Goldstein, independent licensed insurance producer.
If you’re looking at a US Bank CD, you should see what an A-rated MYGA pays for the same lock-up. The yield gap is often 100 to 500 basis points. On a $250K deposit over 5 years, that’s real money.
Send your details and you’ll get a written side-by-side: this CD vs. the top 3 MYGAs at the same term, with end-of-term math at your actual deposit amount. We’ll email it to you.
Holding this money for 3 years or more? This month's best MYGA rates may pay more than a bank CD, and if you already have an annuity quote, request a free, independent second opinion before you sign.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
We’ll email it to you. Hans replies within one business day. Privacy Policy.
Disclosure
This review reflects publicly posted bank rates and approximate APYs for ZIP 55402 as of 2026-10-03. CD rates change frequently. Confirm current rates directly with US Bank before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. US Bank is FDIC-insured to the limits stated; coverage is per depositor, per ownership category. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a bank employee, broker-dealer, or registered representative, and is not paid by US Bank for this review. No compensation has been received from US Bank in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual CD disclosure or annuity contract before purchasing.