Bank savings account interest rates of 2024-5th-sept-demo-prod

U.S. Bank offers two different account options for savers, and the yield you earn depends on the account you choose and your balance. While savers with relatively large balances can earn attractive rates, you can tap into higher rates through other financial institutions.

U.S. Bank offers both a Standard Savings Account and an Elite Money Market Account. The Standard Savings Account offers a dismal 0.01% APY, which is significantly lower than the national average and far from a competitive rate. You need at least $25 to open this account.

The U.S. Bank Elite Money Market Savings Account offers a chance at more attractive rates through a tiered balance structure. Savers with a higher balance in their account can tap into higher interest rates.

As of writing, savers can earn 4.50% APY on account balances greater than $25,000 and 0.01% on account balances less than $25,000. You will need to open the account with a deposit of at least $100.

The U.S. Bank Standard Savings Account is a basic option with an APY of 0.01% on all balances.

The Elite Money Market Account offers higher rates, to savers with a larger stash. Savers can tap into higher rates after crossing the threshold of a $25,000 balance. But below that mark, savers earn the lower APY on their savings.

Banks and Their APY(Interest rates)