Savings accounts

The interest rates and APYs for the U.S. Bank Smartly® Savings account are variable, determined at the bank’s discretion, and can change at any time, including after the account is opened. A minimum opening deposit of $25 is required to open.

Interest Rate Bump Eligibility: You may qualify for an interest rate bump on your U.S. Bank Smartly® Savings account if at least one account holder maintains a U.S. Bank Smartly® Checking account, Safe Debit account, or a U.S. Bank Smartly™ Visa Signature® Card that is open and in-good-standing. U.S. Bank Smartly Savings accounts without an eligible product will earn the standard variable interest rate. The interest rate bump is determined by the Combined Qualifying Balances (CQB). U.S. Bank reserves the right, at its sole discretion, to determine whether a U.S. Bank Smartly Savings account is eligible for the interest rate bump. Accounts deemed ineligible will earn the standard variable interest rate. Log into your Online Banking or Mobile App to view your account interest rates.

What eligible products are included in your CQB: The following consumer and trust products are eligible for inclusion in your CQB:

• Consumer checking, money market, savings, Certificate of Deposits (CDs), and/or Individual Retirement Accounts (IRAs)
• Personal Trust accounts
• U.S. Bancorp Investments accounts
• U.S. Bancorp Advisors brokerage accounts

Note: Business and commercial products are never eligible.

Qualified Balance: Funds on deposit in an eligible product, for which you have an ownership interest, are counted towards your CQB.

• Examples include those mentioned below, but are not limited to, eligible customer to account relationship types included are: Individual owner, joint owner, primary non-signer.

Conversely, funds on deposit in an eligible product that do not imply ownership interest, are not counted towards your CQB.

• Examples include those mentioned below, but are not limited to, ineligible customer to account relationship types not included are: Trustee only (IFI), Grantor only (GRT), all Irrevocable Trust roles, Payable on Death, Representative Payee, Guardian.

How is your CQB calculated: The CQB is calculated separately for each account owner monthly. For U.S. Bank Smartly Savings accounts with multiple owners, the owner with the highest CQB will be used to determine the Smartly Interest Rate Bump tier. The interest rate bump and balance range information will be visible to all owners on the joint account. There are two CQB calculations completed for every customer.

• Monthly – Upon the opening of your first, and thereafter at the beginning of each calendar month, your historical average CQB is calculated by summing all available previous days qualified balances and dividing by the number of days since the first eligible product was opened (90 calendar day maximum).
• Daily – Each day your CQB is calculated by totaling your end of day qualified balance on deposit in an eligible product.

How is your interest rate bump tier determined: After the eligible product verification is completed, on the next business day we will determine your interest rate bump tier. Your tier is based on the better of your daily or monthly CQB calculation. Once a tier has been assigned to you, it will not be downgraded for the remainder of that calendar month. However, at any point during a calendar month, you may receive a tier upgrade based upon your daily CQB. Assignment of an initial tier, monthly tier upgrade or downgrade, and/or daily tier upgrades generally are applied within five business days. For your individual accounts, your interest rate bump tier will be your tier (as described above). For joint accounts, the tier is assigned the highest tier associated with any account owner. The interest rate bump is added to the standard interest rate to calculate the interest rate applied to the entire account balance in the eligible U.S. Bank Smartly Savings account generally within five business days. If the U.S. Bank Smartly Savings account is closed, the interest rate bump will cease immediately, and accrued interest will not be paid. If the required eligible product (U.S. Bank Smartly Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card) is closed but the U.S. Bank Smartly Savings account remains open, the interest rate bump will remain valid until the end of the calendar month. Changes in the ownership structure of your U.S. Bank Smartly Savings account or the required eligible product may result in immediate loss of the interest rate bump.

Balance and interest information: You must maintain the minimum balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. All rates and APYs are subject to change after the account is opened. Fees could reduce earnings on the account. Interest rates currently offered on applicable deposit accounts are determined at the bank’s discretion and may change daily. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for your applicable deposit accounts. Interest will be compounded daily and credited to your account monthly for all savings accounts, except Standard Savings, which is paid quarterly. If you close your account before interest is credited, you will not receive the accrued interest.

How to obtain the rate: This rate is valid on new accounts for clients who do not have an existing consumer money market account or for clients with an existing consumer money market account that has been open for less than 30 days. This rate is not valid for clients with a consumer money market account closed within the last 30 days. Get the Annual Percentage Yield (APY) as noted above by depositing at least $25,000 within 30 days of account opening. A minimum opening deposit of $100 is required to open. If you do not deposit $25,000 within 30 days, the standard interest rate will be applied.

How to maintain the rate:  Deposit at least $25,000 within 30 days of account opening and maintain a minimum daily balance of at least $25,000 each day thereafter. If the account balance falls below $25,000 the standard interest rate will be applied until the account balance is at or above $25,000 again. All interest rates and APYs are determined at the bank’s discretion and are subject to change at any time, including after the account is opened, regardless of account balance. Fees will reduce your eligible balance, and deposits are needed to cover these fees to maintain the daily balance for this rate offer.

The standard interest rate balance tiers and APYs are accurate as of today's date: Under $10,000: 0.01%; $10,000 to $24,999.99: 0.01%; $25,000 to $49,999.99: 0.05%; $50,000 to $99,999.99: 0.05%; $100,000 to $499,999.99: 0.05%; $500,000 and above: 0.05%.

Interest information: You must maintain the minimum daily balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for this account. If you close your account before interest is credited you will not receive the accrued interest. Fees could reduce earnings on the account. Other restrictions may apply.

Bank Smartly Savings account Monthly Maintenance Fee: The $5 monthly maintenance fee is waived when you are an owner of a Bank Smartly® Checking, Safe Debit account, Bank Smartly™ Visa Signature® Card, or for accounts with a minor under the age of 18.

Variable rate account – The interest rates and Annual Percentage Yields (APYs) are variable, determined at the bank’s discretion and can change at any time, including after the account is opened. Speak to a banker for current deposit rates, disclosures on rates, compounding and crediting, and other balance information.

The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included.

This account requires an individual retirement account plan. Retirement Money Market accounts are only available at U.S. Bank branches. Personal Trust IRAs are excluded.

FDIC insured to the maximum allowed by law.

ATM Transaction Fee. U.S. Bank will assess this fee for each ATM Transaction conducted at the Non-U.S. Bank ATM. This means that you may be charged more than one ATM Transaction fee at a Non-U.S. Bank ATM during a single ATM session. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the  screen.

ATM Surcharge. Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in MoneyPass®, an ATM surcharge free network. To find MoneyPass ATM locations, select “visit the MoneyPass locator” at the bottom of our ATM locator search results to be taken to the MoneyPass website. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please call us at 800-USBANKS (872-2657) for a refund of the surcharge fee. However, a Non-U.S. Bank ATM Transaction Fee may be assessed on transactions at a MoneyPass ATM.

Please refer to the Consumer Pricing Information (PDF) disclosure section titled Miscellaneous Checking, Savings or Money Market Fees for a summary of ATM transaction fees.

Text messaging fees – For text alerts, standard messaging charges apply through your mobile carrier and message frequency depends on account settings. Check with your carrier for specific fees and charges. Please be advised that the alerts may not be sent immediately.

Personal Trust account balances are the current account balance as of close of the prior day for eligible trust account types that are held for your benefit: IRAs, Agency accounts, Revocable Trust accounts and Custody accounts.

For U.S. Bancorp Investments: Investment and insurance products and services including annuities are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank. Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License# 0E24641.

U.S. Bank Smartly Savings qualifying balance information includes affiliated U.S. Bancorp Investments (USBI) components, which is being translated for your convenience. USBI offers its products primarily in English and may not be able to offer certain products in a particular foreign language.

For U.S. Bancorp Advisors: Brokerage and investment advisory products and services are offered by U.S. Bancorp Advisors, LLC, an SEC-registered broker-dealer, investment adviser, member FINRA / SIPC, and subsidiary of U.S. Bancorp and affiliate of U.S. Bank, N.A. Insurance services are offered by USBA Insurance Services, a dba of U.S. Bancorp Advisors, having a California domicile and principal place of business at 800 N. Brand Blvd., 16th Floor, Glendale, CA 91203, CA Insurance License #6011694. Products may not be available in all states.

U.S. Bank Smartly Savings qualifying balance information includes affiliated U.S. Bancorp Advisors (USBA) components, which is being translated for your convenience. USBA offers its products only in English and may not be able to offer certain products in a particular foreign language.

Trustee (IFI) - The person(s) or entity are serving in the capacity of trustee(s) but are not grantor(s). The trustee typically manages the assets of the trust account and distributes property according to the terms of the trust document.

Grantor (GRT) - The individual(s) who created the trust. Grantors may also be referred to as the settlor or trustor. Grantors may also serve as the trustee(s) of the trust.