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Capital One 360 pays high interest rates on savings.

The bottom line: Capital One is an overall strong bank. You’ll earn competitive interest rates on online savings accounts and CDs. 

Find the right savings account for you

Overall bank rating

Feature
Insider rating (out of 5)

Savings
4.5

Checking
4.5

CD
4.5

Trustworthiness
4

Total score
4.5

Pros and cons

Pros
Cons

Strong digital banking platform

Competitive savings rates

Specific accounts for kids and teens

Early direct deposit

 

No money market accounts
Might have to deal with out-of-network ATM fees

Capital One 360 Performance Savings

Capital One doesn’t require an initial deposit or minimum account balance, and it doesn’t charge a monthly service fee.

The Capital One 360 Performance Savings™ account pays a high interest rate. You can find a higher rate at a couple other big-name banks, but it’s definitely one of the best out there. Your child can earn 0.40% APY Annual Percentage Yield (APY) with a kids savings account, and the rate will jump up to the regular interest rate once they turn 18.

Capital One 360 Performance Savings™ makes it easy to save for various goals. Set a savings goal and your target amount, then schedule recurring transfers from your Capital One 360 Checking account until you’ve saved the full amount.

Capital One 360 Checking®

Capital One doesn’t charge foreign transaction fees, making it a great option for regular travelers. There are no monthly fees, and the bank provides several overdraft protection options. The account also has an early direct deposit feature so you can receive paychecks up to two days early.

Capital One 360 Certificate of Deposit®

Capital One 360 CDs come with term lengths ranging from six months to five years. Capital One does set itself apart by not requiring an initial deposit to open a CD — most banks ask for at least $500.

Capital One doesn’t offer as many types of CDs as some banks do. For example, you can’t open a no-penalty CD or jumbo CD with Capital One. Your only option is a regular term CD.

How Capital One 360 works

Capital One has hundreds of branch locations across Louisiana, Maryland, New Jersey, New York, Texas, Virginia, as well as Washington DC. It …read more

Source:: Business Insider

      

Capital One 360 review: Earn competitive interest rates with no opening deposits

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