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U.S. Bank

U.S. Bank Reviews

8.2

Large variety of loan products

Written by Angela Mae

About U.S. Bank | Read More

LS Score

9.5

Credibility

Support

Accessibility

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Opening Hours

Mon-Fri 9am-5pm EST

Sat 9am-6pm EST

Sun 10am-2pm EST

Contact Information

customer.support@usbank.com
(800) 872-2657
Headquarters: 800 Nicollet Ave, Minneapolis, MN 55402

Social Media

LS Score

9.5

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Fri 9am-5pm EST

Sat 9am-6pm EST

Sun 10am-2pm EST

Contact Information

customer.support@usbank.com
(800) 872-2657
Headquarters: 800 Nicollet Ave, Minneapolis, MN 55402

Social Media

U.S. Bank Personal Loans Review

U.S. Bank offers personal loans for nearly any reason, ranging from debt consolidation to vacation to relocation costs. The application process is fairly straightforward, as are the eligibility requirements.

U.S. Bank Personal Loans Highlight

660

Min Credit Score

8.24-21.49%

APR. Fixed Rate

$1K-$50K

Loan Amount

12-84 months

Repayment terms

Yes

Soft Credit Pull

Direct

Lender Type

Yes

Other Fees

None

Origination Fee

None

Prepayment Fee

4 days

Funding Time

Pros & Cons

Transparent loan terms, rates, and eligibility requirements
Funds can be used for nearly any purpose
May qualify for up to $25,000 or $50,000, depending on credit score
Interest rate discount for automatic payments
No hidden fees

U.S. Bank does not pay creditors directly with debt consolidation loans
Non-members may not qualify for the highest loan amounts
Loans not available in all states

Loan Purpose

Debt Consolidation
Home Improvement
Major Purchase
Medical Expenses
Household Expenses
Vacation
Other

Loan Type

Unsecured Personal Loans
Fixed-Rate Personal Loans
Co-singer / Joint loans

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U.S. Bank Personal Loans Terms & Requirements

U.S. Bank’s personal loans come with standard repayment terms ranging from one year to 7 years. They also have fairly competitive rates for borrowers with good credit or better. The loan amounts are also high enough to cover most emergency expenses, as well as things like debt consolidation, home improvement, and relocation costs.

The biggest downside is that non-members may not qualify for the largest loan amounts. Non-members might also need to meet higher credit score requirements to qualify for a loan.

How to Apply

From the main website, click “Personal.” Then, select “Personal loans & lines” and choose one of the following:

Loans & credit lines
Debt consolidation
Home repair financing
LGBTQ+ family planning

Your options depend on which menu item you’ve chosen. They include:

Personal loan
Personal line of credit
Home equity loan
Home improvement personal loan
Simple loan ($100 to $1,000)

Choose the one that best fits your circumstances and click “Apply Now” to start the application process. Alternatively, select “Learn More” to get additional information. You can also click “Check your rate” to get an idea of what you might qualify for.

Next, create or log into an account. If you continue as guest, you’ll need to fill out general information about yourself. This includes your employment status, take-home pay, and residency information. You’ll also need to answer whether you want to apply with a cosigner or not.

U.S-Bank-personal-loans-application-12-finish

The entire application process takes about 5 to 10 minutes, though it might be a little longer when applying for a joint personal loan. It generally takes a few business days to receive a decision. Funds will be available within one to four business days after closing.

Qualification Requirements

660+ credit score
U.S. citizen
18+ years old
Members and non-members may qualify
36% maximum debt-to-income ratio (DTI)
Job status: Employed (full-time and part-time), self-employed, unemployed, student, retired, homemaker, military, U.S. Bank employee
Co-signer not required

Required Information

To get a personal loan from U.S. Bank, you’ll typically need to provide certain personal and financial information. You can apply online. You’ll need:

Your name
Mailing address
Date of birth
Proof of identity (ex. driver’s license, SSN, state ID)
Phone number
Credit score
Proof of income
Desired loan amount and term

Application Steps & Time Frames

The application process takes around 5 to 10 minutes and can be done entirely online.
It takes one to four business days to receive funds from the day the loan closes. This is standard in the industry.
The entire process is streamlined and easy to follow, making it easy to get a personal loan.

State Availability

Available - Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming,

Not Available - Alabama, Alaska, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia,

U.S. Bank Online Banking Review

You’ll be able to choose between various checking and savings accounts with U.S. Bank. This includes a new checking account that allows you to earn interest on your money.

U.S. Bank has some very competitive APYs and a good track record in the space this review will take you through each of the core account options, as well as explain how you can get started with one of these options.

U.S. Bank Online Banking Highlight

$25

Min Balance

$25

Min Deposit

40,000+

ATM Network

Maintenance Fees

Yes

Other Fees

Online Banking Savings

$25

Min Deposit

$25

Min Balance

Min 0.01%

Min APY Savings

Online Banking Checking

$25

Min Deposit

$25

Min Balance

Min 0.01%

Min APY Checking

Business Online Banking

$100

Min Deposit

$100

Min Balance

Max 1.15%

Min APY Business

Pros & Cons

Offers competitive APYs
A good selection of account options
Low minimum balance requirements
Monthly fees are usually avoidable

High barrier to accessing good APYs
Most accounts carry monthly fees

Account types

Checking
Savings
Business Checking
Business Savings

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APY's

Account	1 Year	3 Years	5 Years
Smartly Checking	0.001% (Daily balance <$50,000) 0.005% (Daily balance $50,000+)	0.001% (Daily balance <$50,000) 0.005% (Daily balance $50,000+)	0.001% (Daily balance <$50,000) 0.005% (Daily balance $50,000+)
Safe Debit	–	–	–
Standard Savings	0.01%	0.01%	0.01%
Elite Money Market	0.01% (Daily balance <$25,000) 4.5% (Daily balance $25,000+)	0.01% (Daily balance <$25,000) 4.5% (Daily balance $25,000+)	0.01% (Daily balance <$25,000) 4.5% (Daily balance $25,000+)

Features Benefits & Rewards

Access to the U.S. Bank Smart Rewards program
Competitive APYs are available
Easy access to debit cards

Account Types

U.S. Bank has two main checking accounts available, as well as three core savings accounts. Each will have its own distinct set of features and suit different types of customers. Here’s a quick breakdown of each of these accounts:

U.S. Bank Smartly Checking

This new checking account option from U.S. Bank allows you to also earn interest on your money, which is always welcome. You will have access to the full suite of U.S. Bank Smart Rewards, as well as online banking, mobile check deposits, and a Visa debit card.

The APY you earn depends on your daily balance it starts at 0.001% and when your balance reaches $50,000 the APY rises to 0.005%. The minimum opening balance for a U.S. Bank Smartly Checking account is just $25. Customers will be able to use the automated budgeting tool to effectively manage their money.

You won’t get charged transaction fees at U.S. Bank ATMs or surcharge fees at MoneyPass Network ATMs. A $2.50 charge is in place for withdrawing money at other types of ATMs. Accountholders also get no-fee overdraft protection transfers from a linked deposit account. A monthly $6.95 account maintenance fee is in place. You can bypass this charge if you meet any of the following requirements:

Aged <25 years old or 65+
A member of the military
Maintaining an average balance of at least $1,500
Combined monthly direct deposits of $1,000+
Have an eligible U.S. Bank consumer credit card
Qualify for one of the four Smart Reward tiers

Account Type	Key Features	Bonuses (if available)
U.S. Bank Smartly Checking	Allows you to earn interest Customers can bypass the $6.95 monthly fee The minimum opening balance is just $25	None

Safe Debit Account
This is an alternative option to the traditional checking account at U.S. Bank. It is a check-less account, so it will be a good fit for people who want access to a debit card but have no reason to write checks. It also is a good option for parents who want to have a joint account with their underage child.

An unavoidable monthly maintenance fee of $4.95 is in place for the Safe Debit account. You will still be able to use the mobile check deposit options and there are no overdraft charges. Users will get access to your credit score for free and there are discounted money orders, with your minimum opening deposit being just $25.

Account Type	Key Features	Bonuses (if available)
U.S. Bank Safe Debit	The minimum opening balance is just $25 An ideal option for a joint account with a child No overdraft fee	None

Standard Savings Account

This is an ideal fit for first-time savers as it allows you to carry relatively small balances. You’re also able to create various savings goals which can help keep you on track with your finances. Accountholders will also be able to instantly access their funds.

Your minimum required opening deposit is just $25 and the current APY is 0.01%. There’s a $4 monthly maintenance fee in place that is waivable if you meet any of the following:

Keep a daily balance of at least $300
Have an average monthly collected balance of $1,000
Have an account with a person who is 12 or younger
Open a U.S. Bank Smarty Checking Account and enroll in the Smart Rewards program

With a Standard Savings Account, you will not be charged any ATM fees at U.S. Bank ATMs and there are $0 overdraft protection transfer fees when you have a linked deposit account. Accountholders can set up text or email alerts about important account information and there is the ability to automate your savings by linking another account.

Account Type	Key Features	Bonuses (if available)
Standard Savings	The $4 monthly maintenance fee is avoidable Get access to a debit card Earn 0.01% APY on your balance	None

Elite Money Market Account

This account option is a good fit for people who are looking to earn a greater level of interest than the standard savings account. You also get benefits that are similar to a checking account as you can get a debit card. Accountholders will have quick access to their funds.

You will be able to earn an APY of up to 4.5% when you deposit at least $25,000 into your new Elite Money Market Account or an existing account that was created within 30 days. You’ll earn 0.01% on any balance lower than $25,000.

You will have to pay a $10 monthly maintenance fee unless you open a U.S. Bank Smartly Checking account and register for the Smarts Rewards program. Otherwise, you will need to have a minimum daily balance of $10,000. The minimum required opening deposit for this account type is $100.

Account Type	Key Features	Bonuses (if available)
Elite Money Market	Earn a 4.5% APY on balances of at least $25,000 Minimum required opening deposit is $100 Access to checking account benefits	None

Retirement Money Market Account

This is a good option for people who are looking to develop some diversity in their retirement portfolio. It offers competitive APYs that are tiered depending on the sum in question. U.S. Bank does not publicly disclose the APYs for its Retirement Money Market Account

There are exact advantages to having this account type and U.S. Bank will not charge you any monthly maintenance fees. You can deposit as little as $25 through an automatic monthly deposit or $100 otherwise.

Account Type

Key Features

Bonuses (if available)

Retirement Money Market

Tiered APY system
Tax advantages available
Can deposit as little as $25

None

Opening an Account With U.S. Bank

No matter which U.S. Bank account you decide to sign up for, the entire process is only going to take about five minutes to complete. This all can be done online or at one of U.S. Bank’s physical branches across the country. You can sign up online or by going to your respective mobile app store and downloading the U.S. Bank app.

As part of the application, you’ll need to provide additional information about yourself, such as your contact details. You’ll also need to provide business-related information, including your business industry and revenues. Finally, be prepared to specify the purpose or purposes of opening an account. If you have any questions during the application process or aren’t sure which account to choose, you can make an appointment with a specialist.

State Availability

- Available in all states

Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.

FAQ’s

What types of services or loans does U.S. Bank offer?

U.S. Bank offers traditional banking services like checking and savings accounts for personal use and businesses. It also has personal loans, auto loans, home loans, lines of credit, and more.

What are U.S. Bank’s customer service options?

There are several ways to contact U.S. Bank. You can call them at any time 1-800-872-2657 for general concerns or questions. You can also use an online feature if you’re logged into an account. Or you can send an email to their customer service team. Alternatively, you can visit one of their 77,018 physical locations.

Do all U.S. Banks have the same hours of operation?

No. Each location has its own hours of operation, but most are within standard business hours for that area. There is a 24/7 general customer support number, as well as an international number for people, though.

Customer Support

For the most part, U.S. Bank’s customer support team is professional, reliable, and knowledgeable. Wait times on the phone can vary from a few minutes to upwards of half an hour. However, there is someone available 24/7 to help answer questions or resolve problems. There’s also an international number for people overseas to call when they need assistance.

U.S. Bank also has a live chat feature for current customers. For certain issues, you will still need to call them, though.

Privacy & Security

U.S. Bank is transparent about its privacy and security. Online, the bank goes into detail about the types of information it collects: “anonymous” and “personal” information.

Anonymous data includes things like demographic information, the browser used, and other common tracking information found online. Personal data generally includes customers’ names, SSNs, addresses, and account information.

Like other traditional banks, U.S. Bank collects this information when someone inputs it into their system directly (such as when submitting an application). The bank uses customer data to determine their eligibility for different services and loan products, as well as to communicate with them. U.S. Bank may also share certain information with its partners or for legal purposes.

Also, U.S. Bank uses physical, organizational, and technical methods to keep customers’ information secure. Since the bank operates online, it does not guarantee the information is 100% secure. However, it does offer certain additional security measures, such as protection from fraudulent or unauthorized activity.

U.S. Bank is not a marketplace. It is a member of the Federal Deposit Insurance Corporation (FDIC), which insures up to $250,000 in bank accounts against theft or loss. As a national bank, it’s also regulated by the Office of the Comptroller of the Currency (OCC).

In Conclusion

U.S. Bank offers various financial services, including traditional, online, and mobile banking. It also has a highly reviewed mobile app that makes accessing, monitoring, and using your different accounts easier. Besides that, U.S. Bank offers different loans, wealth management services, credit cards, and more.

The bank has a long history and solid reputation. However, they do have some customer service issues, especially for overseas customers.

Brand Disclaimer

Disclosures Investment and insurance products and services including annuities are: Not a deposit ● Not FDIC insured ● May lose value ● Not bank guaranteed ● Not insured by any federal government agency.

U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Each individual’s tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

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 and , an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.

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, Inc. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

The creditor and issuer of U.S. Bank credit cards is U.S. Bank National Association, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Inc. and American Express. American Express is a federally registered service mark of American Express.

Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680