U.S. Bank Smartly® Savings
Annual Percentage Yield is accurate as of 11/12/2024
 

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.

Eligibility for an interest rate bump: The interest rate bump is applicable for U.S. Bank Smartly® Savings when at least one account owner maintains an open and in good standing eligible product (U.S. Bank Bank Smartly® Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card). Bank Smartly Savings accounts without an eligible product will earn the standard variable interest rate shown above. Smart Rewards® enrollment is not required to qualify for this benefit. The interest rate bump is determined by the combined qualifying balances, as shown above.

How is the combined qualifying balance calculated: Consumer deposits accounts, U.S. Bancorp Investments¹ Accounts, U.S. Bancorp Advisors² Accounts and Personal Trust³ accounts, where the account is open and you are an account owner, are included in the combined qualifying balance. Note: Balances in business accounts, commercial accounts, and the Trustee only (IFI)⁴ client relationship do not qualify.

The Combined Qualifying Balance is calculated separately for each account owner monthly. For Bank Smartly Savings accounts with multiple owners, the owner with the highest combined qualifying balance will be used to determine the interest rate bump balance range. First, the average monthly balance for each qualifying account is calculated separately by adding together the end of day ledger balance for every day in the month and dividing the total by the number of calendar days in that month (or days since account opening within that month). Next, for each month, the average monthly balances for every qualifying account are added together. The Combined Qualifying Balance used to determine the bump interest rate is calculated by adding together the monthly totals for the previous three months and dividing by three (or the number of months available if less than three).

How is the interest rate bump determined: The initial interest rate bump will be determined by the combined qualifying balance the business day after the Bank Smartly Savings account is opened and the eligible product verification is completed. 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 Bank Smartly Savings account generally within five business days from account opening. The initial interest rate bump will be valid until the next monthly balance review on the first calendar day of each month. The interest rate bump will be adjusted monthly for any changes in qualifying balances and will be valid through the following calendar month. If the 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 (Bank Smartly Checking, or Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card) is closed but the Bank Smartly Savings account remains open, the interest rate bump will remain valid until the end of the calendar month.

For U.S. Bank:

U.S. Bank is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Investments.

¹For 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.

²For 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 National Association. Insurance products 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.

³Personal 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.

⁴Trustee (IFI) – The person(s) or entity managing trust assets of the deposit account and distributing property according to the terms defined within the trust document.

* 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.

Deposit products offered by
U.S. Bank National Association.
Member FDIC