The US Bank invites consumers to take advantage of their current CD rates being offered at 4.25% for their 59-month certificate of deposit special and at 2.25% APY for their 10-month program. The highest CD rates can be availed with a minimum deposit of $500 of new funds. They are also available as IRAs and business CDs.

These specials are still posted on the online edition of the Riverside Press-Enterprise, news agency in Southern California. The Sacramento Bee newspaper also printed these on their pages. According to the ads, the top cd rates can only be availed through US Bank branches. This means one can visit PFF Bank & Trust or thru Downey Savings branches which are now part of the US Bank.

It will be best to contact the bank customer service line and inquire about their requirements or any changes on the going on rates.

One must take note that these long term certificate of deposits imposed severe early withdrawal penalties. The disclosure states that it can be as much as 29.5 months of interest for the 59-month CD. This is a bit too high considering other long term CD offers which only ask for 6-months of interest.

A small early withdrawal penalty may play a factor when you want to move the account to another bank which offers higher interest rates.

Application for these CD programs cannot be completed online. Before, US Bank requires a consumer to already have a checking account with them prior to opening a CD account. The bank does not accept mailed in checks to fund the certificates of deposit.

The US Bank has branches across the United States. The bank is insured with the FDIC through certificate # 6548.