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Capital One 360 CD rates and review

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

finder.com’s rating: 3.7 / 5.0

★★★★★

When you’re ready to take your savings to the next level, the Capital One 360 CD offers high rates. But to get the highest APY, you’ll need to choose a five-year term.

0.2%

1-year APY

0.3%

3-year APY

0.8%

5-year APY

Details

Star rate3.7
6-month APY0.2%
9-month APY0.2%
1-year APY0.2%
18-month APY0.25%
2-year APY0.25%
30-month APY0.25%
3-year APY0.3%
4-year APY0.35%
5-year APY0.8%
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
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Review by


Ryan Brinks melds decades of experience in business news and online content into creating comprehensive and helpful comparisons of the companies you trust your money with. He loves to innovate and put money to work while keeping a careful eye on managing risk. Beyond work, Ryan's also passionate about his family and serving his community.

Expert review

Capital One 360 offers strong rates on CDs with terms of 12 months or longer. Banks often require a minimum deposit — this one doesn’t. Plus, there are no monthly fees.

Consider how long you can be without your funds before committing to a 360 CD. Shorter terms don’t have as great of returns — and if you need to pull your money early, it’ll cost you.

How do I 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. Go to the provider’s site and follow the steps to apply.
  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.

Benefits of a Capital One 360 CD

In addition to having no minimum opening deposit and no maintenance fees, this CD offers the following benefits:

  • Competitive APYs. Interest rates start at 0.2% and go up to 0.8% for terms of 60 months.
  • Term lengths. Meet your goals with terms from six months to five years.
  • 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.
  • Early interest payments. Get interest deposited once a month or once a year.
  • Automatic renewal. Renew your CD for another term at the current rate.

What to watch out for

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

  • Low APR. Shorter terms offer lower yields than traditional savings accounts.
  • Early withdrawal penalty. It’s a standard penalty for CDs, but withdrawing your funds before the end of your term comes with fees.
  • Statement fees. You’ll pay $5 for each statement you receive by mail.

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 with other CDs

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
Quontic Bank CD
0.6%
0.95%
1.1%
1.2%
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
CIT Bank Term CDs
0.25%
0.3%
0.35%
0.4%
0.45%
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
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Compare up to 4 providers

How do I cash in a 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.

How can I 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.
  • Support center. Search for answers to common questions online.
  • Mail. Write to: Capital One 360, PO Box 60, St. Cloud, MN 56302-0060

What other savings options does Capital One offer?

If the Capital One 360 CD doesn’t meet your needs, explore Capital One’s other savings options:

  • Capital One 360 Savings. A fee-free online savings account with a great rate for any savings balance and a 1.00% APY and the best part $0 to open and keep your account.
  • Capital One Kids Savings Account. The online and mobile savings account that puts kids first, another great option with no monthly or maintenance fees, $0 to open or keep your account and a 0.3% APY.

Does Capital One offer business services?

Capital One offers business CDs and savings accounts that include:

  • Business Advantage Savings. A low-fee account that comes with a promotional interest rate for the first year and an option to avoid paying $3 monthly by carrying a balance of $300 or more.
  • Small Business CDs. Choose between earning a fixed or variable interest rate over terms of one to five years when you lock up at least $1,000 of business cash.

Frequently asked questions

How safe is my money in a CD?

All Capital One 360 CDs are insured by the FDIC for up to $250,000.

What if I need my money before the term is up?

You’ll pay a penalty to withdraw your money before the CD matures. Fee ranges from the equivalent of three to six months of interest.

What’s the lowest amount I can put into my CD?

With a Capital One 360 CD, there’s no minimum deposit requirement and you can open it with as little as $1.

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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

    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

    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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