What you'd earn at each, by balance.
What you'd earn at each, by balance.
Annual interest = principal × APY, simple interest. All accounts FDIC insured up to $250,000.
| Balance | U.S. Bank0.05%APYYour current bank | ||
|---|---|---|---|
| $5,000 | $2.50/yr | $210.50/yr | $187.50/yr |
| $10,000 | $5/yr | $421/yr | $375/yr |
| $25,000 | $12.50/yr | $1,052.50/yr | $937.50/yr |
| $50,000 | $25/yr | $2,105/yr | $1,875/yr |
| $100,000 | $50/yr | $4,210/yr | $3,750/yr |
Personalize the gap.
Compared at U.S. Bank's 0.05% standard APY vs. Axos Bank's 4.21% APY. Simple interest.
That's $2,080 over five years, just by switching where the dollars sit.
Why does U.S. Bank pay so little on savings?
U.S. Bank Smartly® Savings pays 2.00% APY on a $10,000 balance as of June 15, 2026 — but only when paired with a linked U.S. Bank Smartly Checking account (or another qualifying U.S. Bank product). Without that linked product, the same savings account drops to 0.05% APY. The two-tier structure is designed to keep customers' primary banking relationship at U.S. Bank: the headline rate looks competitive in advertising, but it only materializes for customers who also keep a U.S. Bank checking account and meet the qualifying activity. With a regional Midwest-and-West footprint, U.S. Bank competes mainly on relationship retention inside its core markets rather than by bidding for deposits on a standalone yield basis.
What about U.S. Bank's higher-tier savings accounts?
U.S. Bank's headline-tier product is the Smartly® Savings account paired with a Bank Smartly Checking relationship — 2.00% APY on a $10,000 balance as of June 15, 2026. Without the linked checking account, the same Smartly Savings drops to 0.05% APY. The account also carries a $5 monthly service fee and a $5,000 minimum balance. U.S. Bank's strongest branch presence is in Minnesota, Oregon, Washington, Idaho, and the broader Midwest; customers outside those markets often find branches limited or absent altogether. Even at the 2.00% with-relationship rate, U.S. Bank falls more than 200 basis points short of the 4.21% APY at Axos Bank and 180 basis points short of the 3.80% APY at SoFi.
Where U.S. Bank customers are moving their savings.
Every account below is FDIC insured to $250,000, with the same daily access you have today. On a $10,000 balance, the top rate earns about $416 more a year than U.S. Bank.