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Capital One offers 10 certificate of deposit (CD) terms, ranging from six months to 60 months. The bank’s CD rates are are competitive among online banks. There’s no minimum deposit requirement to open a Capital One 360 CD.
Here’s an overview of the Capital One Certificates of Deposit. Rates are accurate as of August 20, 2024.
| CD Term | APY | Minimum Deposit |
|---|---|---|
| 6 Months | 4.25% | $0 |
| 9 Months | 4.25% | $0 |
| 12 Months | 4.50% | $0 |
| 18 Months | 4.25% | $0 |
| 24 Months | 4.00% | $0 |
| 30 Months | 4.00% | $0 |
| 36 Months | 3.75% | $0 |
| 48 Months | 3.75% | $0 |
| 60 Months | 3.75% | $0 |
Overview of Capital One 360 CDs
Capital One 360 CDs have no minimum deposit requirement. This makes them a flexible option for savers who are just starting out—you can open a Capital One 360 CD regardless of the amount of money you have ready to save. Interest is accrued daily and compounded and paid monthly throughout the CD term.
Capital One’s 360 CDs are competitive with the best CD rates on the market.
If you need to take money out of your CD during the agreed-upon term, you’ll have to pay a penalty for early withdrawal ranging from three months of earned interest to six months of earned interest.
| Overview of Capital One 360 CDs | ||
|---|---|---|
| Minimum Deposit | None | |
| Term Lengths | 6, 9, 12, 18, 24, 30, 36, 48 and 60 months | |
| Compounding Schedule | Monthly | |
| Early Withdrawal Penalty | Terms of 12 months or shorter: 3 months’ interest Terms longer than 12 months: 6 months’ interest | |
| Grace Period for Penalty-Free Withdrawals After Maturity | 10 days | |
How Much Can You Earn With Capital One’s 360 CD Rates?
Before you decide to invest in a CD, calculate the yield you will gain from committing your money to this account.
Find out what you can earn with Capital One’s 360 CDs with our CD calculator:
How Capital One’s CDs Compare
Capital One’s 360 CD rates are among the best available and far better than the national average CD rates. While the average 12-month CD earns 1.85% as of August 2024, according to data from the FDIC, a Capital One 360 12-month CD earns 4.50% APY.
If you want to get the best CD rates, be sure to do your research. Compare CD rates to see which banks or credit unions offer the highest APY. Also, compare minimum deposit amounts and term lengths. These are a few of the factors to consider to find a CD that delivers the highest possible return on your investment and supports your financial goals.
About Capital One
Capital One is a full-service bank. It’s mainly considered an online bank, although it also has brick-and-mortar branches and Capital One Cafés in select locations. Capital One is well known for its credit cards—you may recall its “What’s In Your Wallet?” TV commercials—and entered the full-service banking world by purchasing ING Direct in 2012, when it rebranded its services as Capital One 360.
Frequently Asked Questions (FAQs)
How does a CD work?
A certificate of deposit (CD) is a time deposit account that pays interest. Unlike a savings account that allows you to take your money out at any time, a CD requires you to commit your money for a specified term.
The bank keeps your money locked up in the CD and pays you interest at an agreed-upon rate during the term of the CD. After the CD’s term is up, you can renew the CD, reinvest the money into another CD or withdraw the money.
Think carefully before you decide to put money into a CD. It can be the right choice for short-term savings if you want safety, but most CD rates in the current environment are low and may not help your money grow.
Are CDs safe?
CDs are generally considered to be one of the safest investments. That’s because they pay a guaranteed rate of interest and are insured at banks by the FDIC.
If you’re saving for a short-term goal—like a down payment on a new house or a wedding—a short-term CD can help you keep that money safe. You may also earn a higher yield than you would get from a traditional savings account.
Are there different types of CDs?
Many banks offer one type of CD, a fixed-rate CD that pays a fixed rate of interest. However, several other types of CDs may be offered by banks or credit unions, such as no-penalty CDs, jumbo CDs and add-on CDs.
Find The Best CD Rates Of 2024
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