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Capital One 360 pays high interest rates on savings.

The bottom line: Capital One 360 Certificate of Deposit® pays better CD rates than brick-and-mortar banks, especially for long-term CDs.

Capital One CD rates

Capital One 360 Certificate of Deposit® pays significantly higher rates than what you’ll earn with brick-and-mortar banks, especially for long-term CDs.

Capital One is one of the few banks that doesn’t require any minimum deposit, so you can open a CD regardless of how much money you have.

The bank charges low-to-standard penalties for withdrawing funds before your CD matures. You’ll pay 3 months interest for a term of 1 year or less, and 6 months interest for a term of more than a year.

Term length
Annual Percentage Yield (APY)

6 months
Capital One 6 Month 360 CD – APY

9 months
Capital One 9 Month 360 CD – APY

1 year
Capital One 1 Year 360 CD – APY

18 months
Capital One 18 Month 360 CD – APY

2 years
Capital One 2 Year 360 CD – APY

30 months
Capital One 30 Month 360 CD – APY

3 years
Capital One 3 Year 360 CD – APY

4 years
Capital One 4 Year 360 CD – APY

5 years
Capital One 5 Year 360 CD – APY

 

We compared Capital One CD rates with two other online banks known for paying high rates: Ally and Marcus by Goldman Sachs.

Capital One CD rates vs. Ally CD rates

Both banks are among the few that let you open a CD with no minimum deposit.

Ally also has an 11-month No Penalty CD and a 2-year or 4-year Raise Your Rate CD. The latter gives you the option to increase your rate should Ally’s rates go up during your term — once during the two-year term, and twice during the 4-year term.

Capital One CD rates vs. Marcus CD rates

Marcus pays similar CD rates as most Capital One CDs. But Marcus requires $500 to open a CD, so if you don’t have that much cash ready, Capital One is the clear choice.

There is also a Marcus No-Penalty CD with 7-month, 11-month, and 13-month terms.

See Insider’s list of the …read more

Source:: Business Insider

      

Capital One pays better CD rates than brick-and-mortar banks, with no minimum deposits

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