Capital One 360 Performance Savings Review – High-Yield Savings Account

The Capital One 360 Performance Savings account is a high-yield savings account that earns a competitive interest rate, currently 4.40% APY, making it a great option for those looking to grow their savings over time.

This rate is significantly higher than the national average, giving you more money in your account without having to do much more than keep your money there.

With no minimum balance requirement, you can open a Performance Savings account with any amount of money, making it accessible to a wide range of customers.

The account also comes with no monthly maintenance fees, which means you won't have to worry about extra charges eating into your savings.

Capital One 360's Performance Savings Account is a great option for those looking for a hassle-free savings experience. One of its standout features is that it has no minimum balance requirements.

You won't have to worry about monthly maintenance fees with this account, either. This means you can save money without any extra charges.

The Performance Savings Account also offers IRAs and custodial accounts, making it a great option for long-term savings.

Here are some key pros of the Performance Savings Account:

However, it's worth noting that this account has some limitations. One con is that it doesn't offer money market accounts, which may be a drawback for some savers.

One of the best things about this account is that there's no minimum balance requirement, so you can feel free to put in whatever amount you like.

You won't have to worry about any monthly maintenance fees, which can add up quickly and eat into your savings.

IRAs and custodial accounts are available, making it easy to save for retirement or set up accounts for minors.

The account offers a competitive 3.8% APY, which is a great way to earn some extra interest on your savings.

No monthly fees mean you'll get to keep more of your money, rather than throwing it away on unnecessary charges.

Auto-savings tools can help you stay on track and make saving easier, by automatically transferring a set amount of money into your account each month.

Here are some of the key benefits of this account at a glance:

One thing to keep in mind is that Capital One 360 has some limitations.

No money market accounts are offered through Capital One 360, which might be a drawback for some users.

The interest rate on the Performance Savings Account is good, but not the highest available.

Another con is that there's no 24/7 support, which might be a problem for those who need help outside of business hours.

You can withdraw money from your Capital One 360 Savings account using your card in an ATM. You can withdraw money by dipping your card into one of the 39,000 Capital One and AllPoint ATMs across the US for free.

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The Capital One 360 Performance Savings Account has a competitive APY, which is a major draw for those looking to grow their savings. This account offers a high-yield savings experience without the hassle of monthly fees or minimum deposit requirements.

One of the standout features of this account is the absence of monthly maintenance fees, which can be a significant savings in and of itself. This means you can focus on growing your money without worrying about extra charges.

The account also has no minimum deposit requirements, making it accessible to a wide range of customers.

The Capital One 360 Performance Savings Account has some notable features that set it apart from other online banks. It's not revolutionary, but it gets the job done.

One of the key features is its competitive APY. This means you can earn a higher interest rate on your savings compared to a traditional savings account.

No monthly maintenance fees is another standout feature. This means you won't be charged extra for keeping your account active, which is a big plus for those who want to save without worrying about extra costs.

And, there's no minimum deposit requirement. This means you can open an account with any amount of money, whether it's $1 or $1,000.

These features make the Capital One 360 Performance Savings Account a solid choice for those looking for a hassle-free savings experience.

The Finder Score is a simple way to compare savings accounts from hundreds of financial institutions, giving you a score out of 10 based on interest rates, fees, opening deposits, and features.

Over 250 savings accounts are analyzed to provide this score, which takes into account FDIC-reported national averages as a baseline.

Accounts with interest rates well over the national average are scored the highest, while those with rates well below are scored lower.

This score provides a quick and easy way to compare savings accounts and find the best one for your needs.

The Capital One 360 Performance Savings account has no fees or account minimums, making it a great option for those looking for a hassle-free savings experience.

This means you can open and manage your account without worrying about any hidden costs or minimum balance requirements.

If you're already a Capital One customer with other accounts, such as a checking or credit card account, this high-yield savings account is definitely worth considering.

You'll never pay a fee to keep money on deposit with the 360 Performance Savings account. This is because Capital One doesn't charge monthly maintenance fees, which is a big perk for anyone looking to save money.

Some banks and credit unions charge monthly fees to manage your bank account, but Capital One doesn't. This makes it a great option for those who want to avoid unnecessary fees.

The 360 Performance Savings account has no minimum deposit requirement to open an account or earn interest. This means you can start saving right away without having to worry about meeting a certain balance threshold.

If you're looking for a high-yield savings account with no fees or account minimums, the Capital One 360 Performance Savings is definitely worth considering. It's a great option for those who are comfortable managing their savings primarily online.

With a Performance Savings Account, you can structure it as a traditional or Roth IRA, which means your account earns tax-free interest and benefits from compound interest over time.

The benefits of an IRA account at Capital One are similar to a standard taxable account, with the same yields and FDIC insurance limit.

You can't withdraw from your IRA savings account without triggering a tax penalty if you haven't yet hit the age threshold to begin taking required minimum distributions (RMDs).

Capital One's fee-free ATM network has about 40,000 machines, making it one of the largest networks available to customers.

This means you can easily access your money without incurring extra fees, no matter where you are. You can withdraw cash, check your balance, or deposit funds at any of these machines.

Third-party ATMs may charge fees, however, so it's always a good idea to check the ATM's fees before using it.

If you're considering the Capital One 360 Performance Savings account, you might want to know how it stacks up against other options. Capital One 360 offers a 4.25% APY, which is higher than the Ally Bank online savings account's 3.85% APY.

One thing to note is that Capital One 360 does not offer 24/7 support, which might be a drawback for some users. Ally Bank, on the other hand, does offer 24/7 support.

You can also consider Capital One 360 CDs, which offer a solid interest rate with no minimum balance requirement. The current interest rates for CDs include 3.90% APY for a 6-month CD, 3.80% APY for an 18-month CD, and 3.50% APY for a 60-month CD.

Here's a brief comparison of Capital One 360 Performance Savings and Ally Bank online savings account:

The interest and returns on your Capital One 360 Performance Savings account are quite impressive. You earn 4.25% APY on all eligible balances, regardless of relationship status. This is a competitive rate that's very close to the highest APY on the market right now.

Your interest is compounded monthly, meaning it's added to your principal balance every month. This helps your savings grow over time. As a result, you'll earn interest on top of your interest, which can lead to significant gains in the long run.

The account offers a variable yield, so the APY may change over time. However, it's currently at 4.25%, which is a great rate for an entry-level savings account.

Here's a breakdown of the interest payout options:

The frequency and options for interest payouts are convenient and flexible, allowing you to choose the best option for your needs.

Capital One 360 Performance Savings is a reliable choice for your savings needs.

The bank is FDIC-insured, which means your deposits are protected up to $250,000.

Capital One savings accounts are deposit accounts covered under FDIC insurance, providing an extra layer of security.

In the unlikely event of a bank failure, your funds are protected up to $250,000.

This protection gives you peace of mind and confidence in your savings.

FDIC insurance is a government-backed guarantee, so you can trust that your money is safe.

If you're looking for a high-yield savings account, the Capital One 360 Performance Savings account is a great option.

It offers a competitive 3.8% APY, which is nearly 9 times higher than the national average.

There are no monthly fees or minimum balance requirements, making it a low-maintenance option.

You also get tools to help you automate your savings in conjunction with other Capital One accounts.

Customer support isn't 'round the clock like other big banks, and you'll be banking primarily online.

The account is best for those who want a free high-yield online savings account.

Here are the key features of the Capital One 360 Performance Savings account: