Capital One CD Rates
Capital One is probably one of the first banks you’ll come across if you’re searching for the best online CDs, and it truly doesn’t disappoint. Capital One CD rates are among the highest in the country and that’s only the start. The bank also has no minimum deposit requirement and provides award-winning customer service too.
The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.
|Capital One 360 CD Overview|
Although Capital One’s CD rates on long-term options are tempting, don’t open one unless you’re sure you won’t need the money before it matures. Otherwise, you may pay expensive early withdrawal fees.
Capital One CDs: Key Features
|Capital One 360 CD Key Features|
|Term Range?||6–60 months?|
|Early Withdrawal Penalty?||3 months’ worth of interest for term lengths of 12 months or less; 6 months’ worth of interest for term lengths over 12 months|
We like that Capital One offers such high rates. But what’s honestly refreshing to see is no minimum deposit requirement.
Typically you’ll need $1,000 or more to open a CD, which isn’t obtainable for many people. It also prevents a good CD ladder strategy because you’ll need that high minimum deposit five times over if you’re going for a standard five-year CD ladder. But with no minimum deposit requirement, Capital One expands access so that anyone can get started with a single CD or several.
In addition, Capital One is known for its good customer support. The consumer research firm J.D. Power ranked Capital One as the top bank nationwide for overall customer satisfaction in 2022, for the third year in a row.
Capital One’s CDs are designed to be opened online, but you can open them at a local Capital One branch, too.
Compare Savings Rates
You can find even higher rates than what Capital One offers, but not by a huge margin. In particular, CIT Bank offers a strong suite of CDs, with several options available including no-penalty CDs and jumbo CDs. It also features several robust offers for specific term lengths, with exceptionally good deals in some cases.
Capital One CD rates stand out as a good comparison with larger financial institutions, such as Chase Bank. You’ll earn a measly 0.01% APY or less with some of Chase’s CDs, but the lowest you’ll earn with any Capital One CD is 4.10% APY.
How Do Capital One Bank’s CDs Work?
You can open a Capital One CD online or in a branch with any deposit amount you wish. You choose the term length, which dictates your interest rate and how long your money will be unavailable. You can withdraw the money early, but it’ll cost you a penalty fee. When the term length is up, you’ll have a 10-day grace period to withdraw the funds before they’re rolled over into another CD.?
Are Capital One CDs Safe and FDIC-Insured?
Yes, Capital One CDs are FDIC-insured up to $250,000 just the same as any other money you have in a deposit account with the bank. If you’re bumping up close to those limits it’s a good idea to seek out another bank to make sure all of your money is protected.?
Are Capital One and Capital One 360 the Same?
Yes, Capital One and Capital One 360 are the same. Capital One 360 refers to the bank’s online personal bank account division, as opposed to other divisions such as Capital One Spark, which focuses on small business credit cards. Even though Capital One’s 360 CD is primarily an online-only account, you can still open one in person if you live near a Capital One branch.
Is Capital One Good for CDs?
Yes, Capital One offers very good CDs. If you’re concerned about earning the absolute maximum interest rate there are still better CD options. But it’s also an all-around excellent choice due to its positive reputation and no minimum deposit requirements, making it more accessible to all.
Capital One. "360 CD Account & Rates."
J.D. Power. “J.D. Power 2022 U.S. National Banking Satisfaction Study.”
Capital One. "360 CD Account Disclosures."
Chase. "Lock in a CD Relationship Rate Today."