![]() While you can earn higher interest at other online banks or credit unions, Capital One offers the convenience of physical branch access like traditional banks. Its competitive APY for its high-yield savings account is the main draw. Is a Capital One savings account right for you?Ĭapital One’s 360 Performance savings account has a few perks, including the ability to link external bank accounts for easy transfers via Capital One’s mobile app. And, like its savings account, its CD account has no minimum balance requirement to open an account.Ĭapital One does not offer money market accounts, so if this is your preferred savings option, it’s best to consider other banks, such as Ally or Synchrony. Opening a 360 CD could be worthwhile if you already bank with Capital One and want to keep all of your money in one place, or you prefer in-person banking access. ![]() And compared to other banks, the rates are pretty competitive but not the highest rates you’ll find. Capital One’s CD terms range from six months to five years. Additional savings option at Capital OneĪside from its savings account, Capital One also offers 360 CD accounts - which are high-yield certificates of deposit. In addition, Capital One has an easy application process and mobile app to track balances and transfer money between accounts. Capital One’s 4.30% APY is still robust, but not the highest you can get on your savings.Ĭompared to the biggest US banks, however, Capital One ranks among the highest, far above Bank of America and Chase, which both offer a rate of only 0.01% APY. Many of the best savings accounts offer over 5% right now. How do Capital One’s savings account rates compare with those of other banks?Ĭapital One’s 360 Performance Savings rate, although competitive, is slightly lower than some online-only banks. Parents can also create more than one Kids Savings Account for each of their child’s financial goals, according to Capital One. Parents can link any bank account to their kid’s account. In addition to no fees and no minimum balance requirements, the Kids Savings Account offers an option to set up automatic savings to make regular deposits. for up to $250,000 per person.Ĭapital One provides a savings account for children - which requires an adult to open - to help them understand the fundamentals of personal finance by watching their money grow. In addition, balances in your online account are insured by the Federal Deposit Insurance Corp. Capital One’s online and mobile banking services make it possible to open a 360 Performance Savings account in as little as five minutes. Capital One: At a glance Savings accountĬapital One’s 360 Performance Savings account offers more than just a competitive annual percentage yield of 4.30%. ![]() Neither account requires a minimum deposit or charges monthly fees. Capital One offers two savings accounts: 360 Performance Savings and, for young savers, its Kids Savings Account.
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