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3 great reasons why you should open a CD account
More for your money
CDs offer our most competitive, promotional rates - and great returns.
Guaranteed returns
Choose the term length that works best for you. The rate is guaranteed for the full length of whatever term you choose.
FDIC insured
All U.S. Bank CDs, including the CD Special, are FDIC-insured up to $250,000. 1
CD laddering
Make the most of short-term and long-term CDs.
Get the flexibility you need to customize your savings and take advantage of guaranteed returns.
Find out more about CDs and the best ways to manage your money.
Whether you need answers to common questions about CDs or want to brush up on your financial knowledge as a whole, our Financial IQ provides an abundance of information, including the following three articles.
CDs: How they work to grow your money
Learn how this savings tool works and when it could work well for you.
Three tips for saving money easily
Make building wealth a part of your regular routine. Check out these three tips.
Saving vs. investing: What’s the difference?
You know that putting money aside for the future is important. But do you know the best strategies to tackle both saving and investing in the years ahead?
Frequently asked questions
A certificate of deposit (CD) is an account that offers you a higher interest rate than a traditional savings account in exchange for leaving your money untouched for an agreed upon time. That time period is known as the term length.4 You'll incur a penalty if you withdraw your funds before the term is done.
The total amount of interest you earn on a CD is determined by the term length 4 and your initial deposit. Typically, the longer your term length and the greater your deposit, the higher the interest you’ll earn. Different CD products offer you different term length options and require different initial deposits. Get the added protection of the Federal Deposit Insurance Corporation (FDIC). Your CD account is FDIC-insured up to $250,000.1
Annual Percentage Yield 5, or APY, is the total interest earned over the course of the year. This is different from the interest rate as it includes compounding interest.
As you accumulate interest on your initial deposit, your account balance grows. APY includes not only the interest on your initial deposit but also the interest on the growth in your balance, i.e. the interest on the interest you've accumulated.
When you open your account, and you're approved, you can invite another person to be a joint account holder. They can then apply online and add themselves to your CD account.
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