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 5 years and offer above average APYs (annual percentage yields).
Capital One’s CDs are also available to a wide range of people as they have no minimum deposit requirements or any fees to worry about.
To see if Capital One’s CD rates are right for you, continue reading our review below.
Capital One 360 CD Rates + Account Details
Capital One 360 CDs are federally insured by the FDIC up to the applicable limits. As mentioned, there are no minimum deposit requirements but you will need to deposit something in the account to open it. There is also a maximum deposit allowance of $1,000,000.
360 CD Rates
Capital One’s CD rates were surveyed September 11, 2023.
To give these yields some context, the average yield on a 12 month CD and a 60 month CD sit at just 1.76% and 1.41% APY, respectively, according to recent FDIC data.
That said, top yields from online banks and nationally available credit unions are now hovering around 5.50% and 4.50% APY for the same respective terms.
How Capital One’s CD Rates Compare
Take a look at the tables below to see how Capital One’s best CD rate compares to the best CD rates offered by other big banks and major credit unions.
Capital One CD Rates vs Big Banks
|Bank||Best CD Rate (APY)|
|Bank of America||4.75%|
Capital One CD Rates vs Credit Unions
|Credit Union||Best CD Rate (APY)|
|NASA Federal Credit Union||5.55%|
|Connexus Credit Union||5.76%|
|Green State Credit Union||5.45%|
|Navy Federal Credit Union||4.95%|
|Langley Federal Credit Union||5.30%|
How Much Can You Earn with a Capital One CD?
The total amount of money you can make from a Capital One CD is going to depend on your deposit size, the term you select and the going APY (annual percentage yield). Below is a table showing hypothetical earnings from a few Capital One CDs based on a $25,000 deposit.
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.
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?
To open a Capital One CD, start here and click on the blue “Open Account” button.
The first step is to select 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 this is your first Capital One account, then you’ll need the following information to complete the CD application process (list below). This process should take about 5 minutes to complete online.
- Verifiable Email Address
- Full Legal Name
- Current Home Address
- Phone 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. At this time you may fund your CD.
Funding a Capital One CD
If you don’t have an existing Capital One account, you will need to set up an electronic transfer from your current bank or credit union to fund your Capital One CD.
This will require the following financial information to complete:
- Your current bank or credit union’s routing number
- You current bank account number (where funds will be withdrawn from)
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 4.9 stars out of 5, while their Android app has 4.6 stars out of 5.
Capital One Certificate of Deposit FAQs
Still have questions about Capital One’s CD rates? See what other consumers are asking around the web as well as our responses below.
Are Capital One’s CDs Callable?
No. Capital One’s certificates of deposit are not callable. They will never close out your CD prior to its maturity.
Are Capital One’s CDs FDIC Insured?
Yes. Capital One’s CDs are federally insured by the FDIC up to $250,000 per depositor.
Does Capital One Allow Joint CD Accounts?
Yes. Capital One allows joint CD ownership of 2 or more individuals.
Is There a Maximum Deposit for Capital One CDs?
Yes. Capital One CDs may not exceed $1,000,000.
Does Capital One Have a Money Market Account?
No. Capital One does not offer a money market account at this time.
What is Capital One’s Routing Number?
Capital One’s routing number is 031176110.
What is Capital One’s Phone Number?
Capital One’s phone number is (877) 383-4802.