The Capital One 360 Performance Savings account has an annual percentage yield of 4.35% with no minimum balance. It has an interest rate that is much better than the national average of 0.47%. But there are a few online savings accounts at other banks with higher savings rates.
Capital One 360 savings rate, fees
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| The average national rate for savings accounts is 0.47%. |
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Did you know...
Interest rate is the amount of interest paid on a bank account balance, expressed as a percentage. Interest is often paid daily or monthly. Annual percentage yield, or APY, is a percentage that reflects the total amount of interest you earn over one year.
How Capital One 360 compares to online banks
Capital One 360 offers online accounts with no monthly fees and above average rates that are often found with online savings accounts. There are also no minimum balance requirements. But while Capital One 360 is competitive, higher rates can sometimes be found elsewhere. (For more on this bank, check out NerdWallet’s full Capital One 360 review.)
Barclays Online Savings Account
EverBank Performance℠ Savings
Savings calculator
Use the savings calculator to find out how much interest you could be earning in a high-interest savings account. The higher the rate, the faster your money can grow.
FAQs
The scoring formulas take into account multiple data points for each financial product and service. The Capital One 360 Performance Savings account has an annual percentage yield of 4.25% with no minimum balance. It has an interest rate that is much better than the national average of 0.45%.
What is the Capital One 360 savings bonus for 2024? ›
360 Performance Savings–Up to $1,500
The latest Capital One savings promotion offers a bonus of up to $1,500 when opening a brand new 360 Performance Savings account on or after April 3, 2024.
What is the interest rate on Capital One 360 savings account? ›
Capital One Savings Interest Rates
| Account Name | APY | Minimum Deposit |
|---|
| Capital One 360 Performance Savings | 4.25% | None |
May 1, 2024
While the average 12-month CD earns 1.80% as of May 2024, according to data from the FDIC, a Capital One 360 12-month CD earns 5.00% APY. If you want to get the best CD rates, be sure to do your research. Compare CD rates to see which banks or credit unions offer the highest APY.
Which bank is giving 7% interest in savings accounts? ›
Currently, no banks are offering 7% interest on savings accounts, but some do offer a 7% APY on other products. For example, OnPath Federal Credit Union currently offers a 7% APY on average daily checking account balances up to and under $10,000.
Is Capital One 360 savings good? ›
Top perks. 4.25% APY: If you're opening a high-yield savings account, it's because you're looking to get better returns on your savings. The Capital One 360 Performance Savings is up there in the ranks of the best online savings accounts due to its higher-than-average APY on all balances.
How often does Capital One 360 savings compound interest? ›
360 Performance Savings disclosure
The interest rates and annual percentage yields are variable and may change at any time at our discretion. Compounding and crediting - Interest on your account will be compounded and credited on a monthly basis.
Why is my Capital One savings APY so low? ›
Why are savings accounts so low? Interest rates on savings accounts have been low for more than a decade because the Federal Reserve slashed rates to help the economy grow out of the Great Recession.
Where can I get 5% interest on my money? ›
Nationally Available High Interest Account Rates from Our Partners
| Account Name | APY (Annual Percentage Yield) Accurate as of 5/20/2024 | Minimum Account Opening Balance |
|---|
| CIT Bank Platinum Savings | 5.00% (with $5,000 minimum balance) | $100 |
| Wealthfront Cash Account | 5.00% | $1 |
| Barclays Online Savings Account | 4.35% | $0 |
3 more rowsMay 10, 2024
- 360 Checking. A fee-free online account for everyday use, including a top-rated mobile app.
- 0.10 % APY 1 ...
- 360 Performance Savings. Fee-free online savings with one of the nation's top savings interest rates.
- 4.25 % APY. ...
- 360 CDs. Earn interest with guaranteed returns. ...
- 5.00 % APY. ...
- 0.10 % APY. ...
- 2.50. %
Capital One's 12 and 18-month CDs have the highest annual percentage yields (APYs), 5.00% and 4.45%. The bank regularly offers promotional CDs with higher rates. Currently, a 10-month CD offers 5.10% APY. Capital One yields are more competitive than many big banks, though several online banks offer similar rates.
How safe are Capital One CDs? ›
Every Capital One 360 CD balance is insured up to the FDIC's allowable limits. Decide when your CD account interest is paid out—end of term, monthly or annually. Your CD's performance isn't tied to market variability, so there's no risk involved. Your money will grow at a fixed rate over the term of your CD account.
What is the best CD rate for $100,000 today? ›
Compare the Highest Jumbo CD Rates
| Institution | Rate (APY) | Minimum Deposit |
|---|
| GTE Financial | 5.38% | $100,000 |
| Credit One Bank | 5.35% | $100,000 |
| Third Federal Savings & Loan | 5.25% | $100,000 |
| CD Bank | 5.25% | $100,000 |
13 more rowsAs of May 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.
Where can I earn 7% on my money? ›
Banks that offer 7% interest on savings accounts
- Landmark Credit Union Premium Checking (7.50% APY) ...
- Digital Credit Union Primary Savings (6.17% APY) ...
- Popular Direct High-Yield Savings (5.20% APY) ...
- TAB Bank High Yield Savings (5.27% APY) ...
- High-yield savings accounts. ...
- Certificates of deposit (CDs) ...
- Money market accounts (MMAs)
Digital Federal Credit Union has an account that pays over 6% APY, but you must meet membership requirements to get started. You also won't earn this high interest rate on your entire Digital FCU savings balance. Plenty of savings accounts are available around the U.S. and still offer great rates — over 5% APY.
How often does Capital One offer bonuses? ›
Frequently asked questions (FAQs)
Currently, Capital One doesn't offer any bonuses. That doesn't mean it won't in the future, but there's no guarantee. Regardless, Capital One offers fee-free accounts and competitive interest rates, so it may be worth considering if you're looking for a new bank.
What is the Capital One 360 350 bonus? ›
What is the offer? Earn a $350 bonus after opening a new 360 Checking account and receive at least two qualifying direct deposits of $250 each within 75 days of opening your account. Your deposit must be “externally sourced funds,” meaning they come from a source not affiliated with Capital One.
How much is the Capital One 75k bonus? ›
Capital One Venture Rewards Credit Card
Bonus offer: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel. Annual fee: $95.
What is the Capital One $300 bonus? ›
One of the best $300 credit card bonus offers is given by the Capital One Savor Cash Rewards Credit Card *. You can get this bonus by spending $3,000 in the first 3 months of account opening. In addition, this card offers 1 - 5% cash back on purchases.
