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Capital One 360 CD rates review

No minimum deposit and a strong APY from this online account.

finder.com’s rating: 5.0 / 5.0

★★★★★

When you’re ready to take your savings to the next level, the Capital One 360 CD offers high rates over 3.00% for its highest term lengths. However, its shortest terms may not be worth it compared to its high-yield savings account.

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2.70%

1-year APY

3.10%

3-year APY

3.25%

5-year APY

Details

Star rate5
6-month APY1.65%
9-month APY1.65%
1-year APY2.70%
18-month APY2.40%
2-year APY3.00%
30-month APY3.00%
3-year APY3.10%
4-year APY3.15%
5-year APY3.25%
Early withdrawal penalty90 days interest for terms of 1 to 12 months
180 days interest for terms of 13 + months
Minimum deposit to open$0
Interest compoundingMonthly

Review by


Sarah George is a staff writer at Finder who unravels complicated topics about insurance, business and finance. She's been wordsmithing for nearly five years, after earning an English education degree. Her insurance know-how has been featured on CarInsurance.com. You can usually find Sarah sipping hot tea and talking through movie plots in her downtime.

Expert review

Capital One offers strong rates on CDs with terms of 12 months or longer. While banks often require a minimum deposit, this one doesn’t, making it convenient for you to park any amount in savings.

For example, if you keep $2,000 in a 24-month Capital One CD, you’ll earn: $2,000 x 2.80% APY = $114 in interest.

Yet if you park the same amount in a Quontic Bank CD account, you’ll earn: $2,000 x 1.95% = $79.54 in interest.

Consider how long you can be without your funds before committing to a 360 CD. Shorter terms don’t have as great of returns — its six-month CD offers a similar APY as its 360 Performance Savings account. So if you can’t commit for a longer term, you could open up a Capital One savings account.

Otherwise, look for CDs with the most competitive APYs and compare your options before opening the account.

How to open a Capital One 360 CD account

With a focus on online banking, Capital One 360 makes it easy to open your term CD without entering a branch:

  1. Select Apply now.
  2. From the Capital One‘s 360 CDs site, choose Open Account.
  3. Unless you already bank with Capital One, choose your account type and term and fill in your personal, financial and employment details, then select Now, let’s add money.
  4. Submit the banking details that you’ll use to fund your CD to complete your application.

Eligibility

To be eligible for a Capital One 360 CD account, you’ll need to:

  • Be a US citizen or lawful permanent resident.
  • Have a US, APO or FPO mailing address.
  • Have a valid Social Security number.

Required information

Be prepared to provide the following details:

  • Full name and contact information.
  • Employment status and income.
  • Social Security number and date of birth.
  • Country of citizenship.

Funding options

Fund your account by:

  • Electronic money transfer from an outside account.
  • Linked Capital One 360 account.

3 benefits of a Capital One 360 CD

In addition to having no minimum opening deposit, no maintenance fees and FDIC insurance up to $250,000, this CD offers:

  1. Competitive APYs. Interest rates start at 1.65% and go up to 3.25% for terms of 60 months.
  2. Wide term lengths. Meet your goals with terms from six months to five years.
  3. Rate lock guarantee. Lock in the highest rate available during the funding period for up to 10 days, even if that rate changes during funding.

How much interest you can earn

Compare how much money you can earn with how long you’ll keep your money parked in the CD.

Term lengthAPYAmount in savingsInterest earned at maturity
6 months1.50%$2,000$15
1 year2.40%$2,000$48
2 years2.80%$2,000$114
3 years2.90%$2,000$179
5 years3.25%$2,000$347

2 drawbacks to watch out for

Guaranteed rates on your term CD come with potential drawbacks that include:

  1. Statement fees. You’ll pay $5 for each statement you receive by mail.
  2. Few in-person locations. You’ll need to be comfortable opening the account online, unless you live near one of its 755 brank branches. However, its lower overhead costs may be why Capital One can offer competitive APYs in the first place.

To earn the highest APYs for a CD account, look at Discover’s CD options with APYs of 2.60% for its two-year CD.

However, if you’re hoping to earn a high yield without tying up your savings, check out the Capital One 360 Savings with 1.50% APY. The best part is that it requires $0 to open and keep your account.

Depending on your needs, you may find a high-yield savings account or a short-term CD to be more suited to your savings goals.

Compare Capital One 360 CD with other CDs

See other banks and their CD rates and term lengths to find the option that suits you.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Barclays Online CDs
Finder Rating: 4.5 / 5: ★★★★★
Barclays Online CDs
N/A
2.70%
3.25%
$0
Get competitive rates on CD term lengths from 3 to 60 months. A reliable and secure way to see your money grow.
CIT Bank Term CDs
Finder Rating: 3.5 / 5: ★★★★★
CIT Bank Term CDs
0.30%
0.30%
0.50%
$1,000
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
Bread Savings CDs
Finder Rating: 3.8 / 5: ★★★★★
Bread Savings CDs
N/A
3.00%
3.65%
$1,500
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
1.70%
2.50%
3.20%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
SkyOne CD
SkyOne CD
N/A
2.85%
N/A
$1
$1 minimum deposit. 24/7 online access. Federally insured by NCUA.
State Exchange Bank CD
Finder Rating: 1.5 / 5: ★★★★★
State Exchange Bank CD
N/A
N/A
1.71%
$1
Locally-owned independent community bank. FDIC insured. No fees.
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Compare up to 4 providers

Capital One 360 CD reviews and complaints

Capital One is accredited by the Better Business Bureau (BBB) and has nearly 30 years of experience in the financial industry. It holds an A- BBB rating for dealing with customer complaints in a timely manner.

However, Capital One sees low review on average from customer ratings. Customers score it with 1 out of 5 stars out of nearly 1,000 reviewers on the BBB site. It also receives 1.3 out of 5 stars out of nearly 1,500 reviews on Trustpilot. However, these ratings reflect the company as a whole and not its CD accounts directly. Note that it’s common for customers to give reviews online when their experience is negative, which may lead to lower ratings.

In the reviews, customers complain about unhelpful service and unexpected charges or account holds. Other customers have positive experiences with Capital One, including reps that walk through problems step by step or have flexibility during customer hardships.

How to cash in my CD

With Capital One 360, you have 10 days from the end of your term to transfer the money in your CD. Simply sign in to your online account and indicate where you’d like to transfer it.

If you don’t cash in your CD, Capital One automatically renews it for another term at the current interest rate.

However, you’ll pay a penalty to withdraw your money before the CD matures. The fee ranges from the equivalent of three to six months of interest.

How to get in touch with customer service

Contact customer service in the following ways:

  • Live chat. Talk in real time with a representative online.
  • Phone. Call 888-464-0727 from 8 a.m. to 11 p.m. ET to reach a customer rep.
  • Support center. Search for answers to common questions online.
  • Mail. Write to: Capital One 360, PO Box 60, St. Cloud, MN 56302-0060

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    We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

    Read the full methodology of how we rate CDs.

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    4 Comments

    1. Default Gravatar
      karen
      October 15, 2019

      Hi, right now I have a 360 Money Market with Capital One is that the same as a CD

    2. Default Gravatar
      joan
      August 30, 2019

      What is your APY for a 12 cd —Is it 2.40% ,or 2.7% or 2.30 %
      I’ve gotten numerous quotes

      • Avatarfinder Customer Care
        Ryan
        August 30, 2019

        Capital One, as with other banks, periodically changes its APY. Currently, the rate for a 12-month CD is 2.40%.

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