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You are here: Home / CD Rates / Capital One CD Rates – Now up to 4.30% APY!

Capital One CD Rates – Now up to 4.30% APY!

Written by: editorial staff
March 16, 2023

[📌 Update March, 2023: Capital One is no longer offering the promotional 11 month CD (certificate of deposit) yielding 5.00% APY. Their best CD rates now come with 24, 30 and 36 month terms – which all sit at 4.30% APY (annual percentage yield). See all of Capital One’s current CD rates below.]

Capital One offers a number of online certificates of deposit as part of their 360 product suite. The terms come with standard lengths ranging from 6 months to 60 months and above average annual percentage yields.

Their CDs also come with more flexibility than most certificates offered by large national banks. Right now, all Capital One 360 CDs have no minimum deposit and can be opened with any dollar amount that is right for you.

That said, these products must be opened and managed online. But don’t worry, they make it exceptionally easy with their web (and mobile web) interface as well their highly rated apps for IOS and Android.

To see if Capital One’s CD rates are right for you, continue reading our review below.

In this post you'll learn:

  • Capital One 360 CD Rates + Account Details
  • 360 CD Rates (November to Current)
  • Compounding and Crediting Interest
  • Grace Period
  • Early Withdrawal Penalties
  • How to Open a Capital One 360 CD?
  • Capital One 360 CD Reviews and Customer Sentiment
  • How Capital One’s CD Rates Compare

Capital One 360 CD Rates + Account Details

image credit: capitalone.com

Capital One 360 CDs are federally insured by the FDIC up to $250,000 per depositor or $500,000 on joint accounts. As mentioned there are no minimum deposit requirements, but you will need to deposit something in the account to open it.

360 CD Rates (November to Current)

TermAPY
6 months3.30%
9 months3.30%
12 months4.15%
18 months4.25%
24 months4.30%
30 months4.30%
36 months4.30%
48 months4.20%
60 months4.10%
APY = Annual Percentage Yield

To give these yields some context, the average yield on a 12 month CD and a 60 month CD sit at just 1.36% and 1.26% APY, respectively, according to recent FDIC data.

Compounding and Crediting Interest

Interest is compounded monthly on all Capital One 360 CDs and credited to your account either monthly, yearly or upon maturity. You can have these funds deposited into a separate account or returned to the CD for further compounding.

Grace Period

Capital One 360 CDs come with a standard 10 day grace period. You’ll also want to note that Capital One CDs automatically renew, so if you plan on adding or withdrawing funds to your CD this 10-day period is the only time you can do so penalty free.

Early Withdrawal Penalties

If you withdraw funds from a CD you opened with a term of 12 months or less, you’ll have to pay three months’ interest as a penalty.

If you withdraw funds from a CD you opened with a term of greater than 12 months, you’ll have to pay six months’ interest.

Please note that it is possible to incur a penalty that dips into your principal if the withdrawal happens early enough.

How to Open a Capital One 360 CD?

If you decide you want to open a Capital One 360 CD, first navigate to their online CDs page here.

Once you’re ready to open a deposit, click on the green “Open Account” button at the top of the page. This button remains static at the top of this page as you scroll.

It will look something like this (below):

Look for the green “Open Account” button that sticks to the top of your browser as you scroll the page.

Once you click on that green button, the process takes about 5 minutes to complete. They’ll first ask you whether or not you already have a Capital One login. If you’ve opened a checking, savings or even credit card with them (either online or in a branch) then you likely have a login already. If you do, this should expedite the process.

If you do not, and this is your first account with Capital One, then you’ll need the following:

  • Full legal name
  • Current address
  • telephone number
  • employment status (and job title)
  • social security number
  • date of birth

Capital One will then use your personal data to confirm your identity. If you are looking to open a joint account, you must first go through this process individually then you can add another account holder online.

Once your identity is confirmed and the account is opened, you will be provided with your account number and the routing number. You then have the option to add funds immediately to your CD. Your rates are locked in the moment you open the deposit until maturity.

Capital One 360 CD Reviews and Customer Sentiment

The Capital One 360 product suite receives high marks across the board from third party review sites. Their savings products in particular – both the variable rate online savings account and the fixed rate online CDs – receive above average marks for consistently higher than average yields and flexible terms. Most notably the lack of minimum deposit or balance requirements to earn the advertised interest.

You can manage your money easily either online or through one of their native apps. Their IOS and Android apps both receive high marks (especially as far as banking apps go). Their IOS app currently has 4.8 stars out of 5, while their Android app has 4.6 stars out of 5.

How Capital One’s CD Rates Compare

Capital One offers the third most competitive yields on their certificates of deposit via their 360 CD accounts when compared against the country’s other big banks (Bank of America, Citibank, Chase, U.S.Bank, and Wells Fargo). See the table below for a full comparison.

BankBest CD Rate (APY)
Citibank5.23%
U.S. Bank4.45%
Capital One4.30%
Wells Fargo4.26%
Bank of America4.15%
Chase Bank3.75%
APY = Annual Percentage Yield

Keep in mind, there are also a number of online banks and credit unions with nationwide acceptance that have higher yields but the top rate leaders shuffle around often especially in our rising interest rate environment.

ABOUT THE AUTHOR

editorial staff: A group of savers, investors, side-hustlers and entrepreneurs serve the editorial team with a combined 20 years experience in entrepreneurship, banking and blogging.
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Filed Under: CD Rates Tagged With: Capital One

Reader Interactions

Comments

  1. Gayle Taylor says

    January 13, 2023 at 4:38 pm

    Can I draw interest monthly without penalty and if not, what will my interest rate be reduced if I draw the interest monthly

    Reply
    • editorial staff says

      March 16, 2023 at 6:09 pm

      You can have your interest payments deposited elsewhere rather than back into the CD for further compounding. It will shave a few points off of the APY (annual percentage yield) since your interest won’t be earning interest, just your principal.

      Reply

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