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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 4.00% for its highest term lengths. However, its shortest terms may not be worth it compared to its high-yield savings account.
5.00%
1-year APY
4.30%
3-year APY
4.10%
5-year APY
Star rate | 5 |
---|---|
6-month APY | 4.30% |
9-month APY | 4.30% |
1-year APY | 5.00% |
18-month APY | 5.25% |
2-year APY | 4.40% |
30-month APY | 4.30% |
3-year APY | 4.30% |
4-year APY | 4.20% |
5-year APY | 4.10% |
Early withdrawal penalty | 90 days interest for terms of 1 to 12 months 180 days interest for terms of 13 + months |
Minimum deposit to open | $0 |
Interest compounding | Monthly |
Review by
Sarah George is a personal finance writer at Finder who’s spent the last four years wielding her digital pen on all things banking and insurance. Her know-how has been featured in such publications as CBS, CNET and Reviews.com, and she was a panelist in Finder’s 2020 money-saving webinar. Sarah earned an English education degree and is a Certified Educator in Personal Finance.
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.
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.
With a focus on online banking, Capital One 360 makes it easy to open your term CD without entering a branch:
To be eligible for a Capital One 360 CD account, you’ll need to:
Be prepared to provide the following details:
Fund your account by:
In addition to having no minimum opening deposit, no maintenance fees and FDIC insurance up to $250,000, this CD offers:
Compare how much money you can earn with how long you’ll keep your money parked in the CD.
Term length | APY | Amount in savings | Interest earned at maturity |
---|---|---|---|
6 months | 4.3% | $2,000 | $42.55 |
1 year | 5% | $2,000 | $100 |
2 years | 4.4% | $2,000 | $179.87 |
3 years | 4.3% | $2,000 | $269.25 |
5 years | 4.1% | $2,000 | $445.03 |
Guaranteed rates on your term CD come with potential drawbacks that include:
However, if you’re hoping to earn a high yield without tying up your savings, check out the Capital One 360 Savings with 4.3% 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.
See other banks and their CD rates and term lengths to find the option that suits you.
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.
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.
Contact customer service in the following ways:
★★★★★ — 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.
Capital One 360 CD is not currently available on Finder
Have you considered Pacific Western 7-Month High Yield CD through Raisin?
4 Comments
October 15, 2019
Hi, right now I have a 360 Money Market with Capital One is that the same as a CD
October 15, 2019
Karen,
No, the money market account is different than a CD. Here’s our review for the money market account: https://www.finder.com/capital-one-360-money-market-account
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
August 30, 2019
Capital One, as with other banks, periodically changes its APY. Currently, the rate for a 12-month CD is 2.40%.