The Capital One 360 Performance Savings account stands out as a high-yield savings option. It offers a competitive interest rate, is FDIC insured, has no monthly fees, and requires no minimum balance to open or maintain.
Capital One also offers a Kids Savings Account with similar features, making it a great choice for teaching children financial literacy early on.
As an online savings account, the 360 Performance Savings offers an APY well above the national average of 0.42%. All balances earn the same APY, providing simple and consistent earnings for all savers.
Capital One savings accounts provide competitive rates and excellent user experience. Here’s how they compare:
Capital One’s APY is significantly higher than the national average, making it an attractive choice for savers.
Unlike many online-only banks, Capital One also provides in-person support through branches and Capital One Cafés in select locations.
Capital One also offers Certificates of Deposit (CDs) with no minimum deposit. These provide fixed APYs and terms for long-term savers.
| Term Length | APY | Minimum Deposit | Early Withdrawal Penalty |
|---|---|---|---|
| 6-month CD | 3.80% | $0 | 3 months interest |
| 9-month CD | 3.80% | $0 | 3 months interest |
| 1-year CD | 4.00% | $0 | 3 months interest |
| 18-month CD | 3.70% | $0 | 6 months interest |
| 2-year CD | 3.50% | $0 | 6 months interest |
| 30-month CD | 3.50% | $0 | 6 months interest |
| 3-year CD | 3.50% | $0 | 6 months interest |
| 4-year CD | 3.50% | $0 | 6 months interest |
| 5-year CD | 3.50% | $0 | 6 months interest |
While the 360 Performance Savings account offers great benefits, it does not come with an ATM card. This can be inconvenient for those who prefer withdrawing cash directly. However, you can easily transfer funds to another Capital One or external account for access.
Overall: With high APYs, no fees, and flexible access, Capital One is a solid choice for both everyday and long-term savings.
