Capital One 360 CD

Capital One 360 CD Review

Capital One 360 CD are offered by Capital One, a bank founded in 1933 and based in McLean, VA. Capital One 360 CD are available in 50 states (and Washington, DC).

Key Takeaways

• Only one CD type available. Capital One 360 CD only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.00%, which is much higher than the national average for a CD account.
• No minimum initial deposit. There is no minimum balance required to open an account.
• Wide selection of CD terms. Capital One 360 CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Capital One 360 CD

Capital One 360 CD FAQ

Are CD from Capital One federally insured?

Yes, your Capital One CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Capital One offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.

What rates does Capital One offer on its CDs?

Capital One 360 CD offers an APY starting at 3.30% and ranging up to 5.00%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

What is the minimum deposit to open a CD account with Capital One?

Capital One 360 CD does not require a minimum deposit.

What is the grace period for Capital One 360 CD?

There is a 10-day grace period for Capital One 360 CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Capital One charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

Capital One does not charge an early withdrawal fee.