Capital One 360 Savings offers a competitive interest rate, currently at 2.10% APY, making it a great option for those looking to grow their savings over time. This rate is subject to change, so it's essential to check the bank's website for the most up-to-date information.
One of the standout features of Capital One 360 Savings is its low minimum balance requirement of just $1. This means you can start saving with a small amount, and still earn interest on your balance.
The bank also offers a range of tools and resources to help you manage your savings, including mobile banking and online account access.
Capital One 360 Savings Account Features
The Capital One 360 Savings Account is a great option for those looking to earn a higher interest rate on their savings. The account offers a high-yield rate, making it a smart choice for anyone looking to grow their savings over time.
The interest rate on the Capital One 360 Savings Account is 3.80%, which is significantly higher than the average national rate for savings accounts, which is a mere 0.42%. This means you'll earn more interest on your balance, helping your savings grow faster.
One of the best things about the Capital One 360 Savings Account is that it has no monthly fees, making it a low-maintenance option for your savings. You won't have to worry about extra charges eating into your interest earnings.
To take advantage of the high-yield rate, you can easily transfer money between linked Capital One accounts or external bank accounts. This makes it easy to manage your savings and make the most of your interest earnings.
Here are the key features of the Capital One 360 Savings Account at a glance:
Comparison and Options
Capital One 360 offers competitive rates, but higher rates can sometimes be found elsewhere.
No monthly fees are charged, making it a cost-effective option.
Capital One 360 has no minimum balance requirements, giving you flexibility with your savings.
Higher rates can sometimes be found with other online savings accounts.
You can find more information on Capital One 360's CD rates by reading about their specific offerings.
Capital One 360 Fees
The average monthly fees for savings accounts can be a significant burden, but Capital One 360 offers a refreshing exception.
No monthly fees are charged by Capital One 360.
Capital One 360 has a minimum opening deposit requirement of $0.
You can open a savings account with Capital One 360 without any initial deposit.
Here's a quick summary of the fees associated with Capital One 360:
Capital One 360 vs Online Banks
Capital One 360 offers online accounts with no monthly fees, making it a great option for those looking to save money.
Above average rates are often found with online savings accounts at Capital One 360, giving you a chance to earn more interest on your money.
No minimum balance requirements mean you can open an account without worrying about keeping a certain amount of money in it.
Higher rates can sometimes be found elsewhere, so it's always a good idea to shop around and compare rates before making a decision.
A fresh viewpoint: Convert Money Factor to Interest Rate
Frequently Asked Questions
Is the Capital One 360 savings account worth it?
Yes, the Capital One 360 savings account is a high-yield option worth considering, offering a significantly higher APY than the national average. With a 3.80% APY, it's a great choice for those looking to grow their savings over time.
Where can I get 5% interest on my savings account?
You can earn 5% interest on your savings account with LendingClub LevelUp Savings, Poppy Bank Premier Online Savings Account, Ivy Bank High-Yield Savings Account, or Varo Bank High-Yield Savings Account. Check out these options for more details on rates, terms, and requirements.
How much will $100,000 make in a high-yield savings account?
A high-yield savings account with a 4.60% APY can earn you approximately $4,600 in interest on a $100,000 deposit in one year, bringing the total to $104,600. Check out online banks for the best rates and start growing your savings.
What are the interest rates for Capital One 360?
Capital One 360 offers interest rates ranging from 0.10% APY for everyday checking to 3.80% APY for savings and 4.00% APY for CDs. Explore their rates and terms to find the best fit for your financial goals.
Which bank gives 6% interest in savings accounts?
The DCU Primary Savings account offers a 6.17% APY, but only up to $1,000. For balances over $1,000, the interest rate drops significantly, so it's essential to review the account's terms before opening.
Sources
- https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/
- https://www.nerdwallet.com/article/banking/capital-one-360-savings-account-interest-rate-how-it-compares
- https://www.capitalone.com/help-center/checking-savings/savings-interest-rate-changes/
- https://www.capitalone.com/bank/savings-accounts/
- https://www.capitalone.com/bank/cds/online-cds/
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