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finder.com’s rating: 4.6 / 5.0
★★★★★
The Capital One 360 Performance Savings account is all about simplicity. It’s straightforward to sign up and start earning interest thanks to no fees, no minimum balances and a competitive 4.3% APY. But support isn’t 24/7 as it is with some online banks.
4.30%
APY
$0
Fee
$0
Minimum deposit to open
Annual percentage yield (APY) | 4.30% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Minimum balance to earn interest | $0 |
Interest compounding | Monthly |
Monthly transaction limit | 6 |
Fee per transaction over the limit | $0 |
Review by
Katia Iervasi is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in insurance. Her writing and analysis on life, disability and health insurance has been featured in The Washington Post, Forbes, Yahoo, Entrepreneur, Best Company and FT Advisor. She holds a BA in communication from Australia's Griffith University.
Capital One 360 Performance Savings account is best for those looking for a high-yield account that will grow their savings without nickel-and-diming them with fees. It’s also helpful if you like having multiple savings accounts to keep your savings goals separate.
This account offers a competitive interest rate of 4.3%, which is 10 times the national average. You also get tools to help you automate your savings for set-and-forget growth.
However, you need to be okay with banking primarily online and through ATMs because this account is online-focused. Since it’s a high-yield account, not having in-person convenience might help you grow your nest egg. Customer support also isn’t ’round the clock as with most major banks, but they’re available daily from 8 a.m. to 11 p.m. ET.
Opening an account is as simple as filling out an online form, and Capital One claims that the process takes five minutes. Follow these steps:
Once you’ve confirmed your information, you’ll receive an account number. The bank also uses the account info used for your initial deposit to link your checking and savings accounts.
You must meet the following requirements to apply for a Capital One Savings account:
To speed up your application, keep these details handy:
This Capital One savings account makes it straightforward to open multiple accounts, automate savings and grow your money at a competitive interest rate. More about these benefits:
This Capital One account compounds your interest monthly at a high interest rate for a savings account. Depending on how much you keep in the account, you can expect to earn:
APY | Amount in savings | Interest earned in 12 months |
---|---|---|
4.3% | $1,000 | $41.00 |
4.3% | $5,000 | $205.00 |
4.3% | $10,000 | $410.00 |
Capital One 360 savings has much to offer. Like other savings accounts, Capital One limits you to six monthly withdrawals , but keep an eye out for these other downsides when opening an account.
If you want in-person customer service or plan to make a lot of transactions, keep looking. As always, compare your options when choosing a savings account.
In terms of high-yield accounts, you can save at an even higher APY with Quontic Bank’s High Yield Savings, which also offers no minimum balance requirements or fees. However, Aspiration’s Spend and Save account gives one of the highest APYs we’ve seen if you meet its spending requirements.
Use this interactive table to compare savings accounts by checking the Compare box, or select Go to site if you’re ready to sign up.
Capital One gives you a variety of ways to move your money around. For reference, this account’s routing number is 031176110.
Cash deposits, ACH direct deposits and incoming wire transfers are typically available on the same business day, while Capital One checks appear the next business day. Checks from other banks tend to take around four business days.
Capital One limits how you can take money out of your account, including no withdrawals from an ATM. However, that limitation is probably a positive to help your savings grow. Ways to withdraw your money:
When you need support, you can contact customer service by:
In addition to the Capital One High Yield Savings account, this bank offers the following:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
Capital One 360 Performance Savings is not currently available on Finder
Have you considered UFB High Yield Savings?
Score an impressive 5.25% APY, and pay $0 in monthly fees. No minimum deposit requirement. FDIC insured.
2 Comments
February 25, 2019
Can I withdraw money from my capital one 360 savings account in an ATM?
February 26, 2019
Hi Stacey,
Thanks for getting in touch with Finder. I hope all is well with you. :)
Yes, you can use 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.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua