US Bank has increased the rate on its CD specials. The new 59-month CD yield is 4.65% APY, and the 43-month CD yield is 4.10% APY. The shorter term yields are much lower: 3.50% APY for a 23-month CD and 2.80% APY for a 11-month CD.

One important detail regarding this CD is a severe early withdrawal penalty. According to the CD disclosure, the penalty for the 59 month CD would be over 29.5 months of interest on the amount withdrawn.

US Bank does have an online application. However, you can only open the CD online if you already have a checking account with them and you use the checking account to fund the CD. Otherwise, you have to come into one of their branches. They do not accept checks by mail to fund a CD.

US Bank has branches in 26 states. It’s a large bank with $232.8 billion in assets.