Capital One offers a number of CDs with varying terms that can help you meet your savings goals. You’ll find its rates are competitive and you won’t have to worry about any minimum deposits.
Keep in mind that if you open a CD with Capital One, you won’t be able to make any additional deposits. Once your CD reaches maturity, however, you can choose to deposit more money, withdraw the funds or renew your account.
Capital One earned 4.7 out of 5 stars in Bankrate’s review across its deposit products.
Capital One CD rates
Here’s a brief overview of Capital One’s CD rates.
|Account name||Term||APY||Minimum deposit|
|Capital One 360 CD||6 months||0.20%||no minimum|
|Capital One 360 CD||9 months||0.20%||no minimum|
|Capital One 360 CD||12 months||0.20%||no minimum|
|Capital One 360 CD||18 months||0.25%||no minimum|
|Capital One 360 CD||24 months||0.25%||no minimum|
|Capital One 360 CD||30 months||0.25%||no minimum|
|Capital One 360 CD||36 months||0.30%||no minimum|
|Capital One 360 CD||48 months||0.35%||no minimum|
|Capital One 360 CD||60 months||0.40%||no minimum|
Note: The APYs (Annual Percentage Yield) shown are as of Nov. 2, 2020. The APYs for some products may vary by region.
How Capital One’s CDs compare to top-yielding banks
Capital One offers below average CD rates. You can find higher rates elsewhere on both the shorter and longer terms. Limelight Bank, Ally Bank and Marcus by Goldman Sachs are among the banks offering a higher payout than Capital One on a 12-month CD, for instance.
Make sure you compare CD rates at a number of banks before you make a decision on where to park your savings. After all, your goal should be to get the highest rate of returns possible for the term that works with your timeline. But before locking away your money in a CD, read the fine print. Some banks require heftier deposits to open a CD, for instance.
Other savings options at Capital One
For those seeking to save for their retirement, Capital One also offers a 360 IRA CD as well as a 360 IRA Savings account that is available in the Traditional or Roth option.
You can also get a more liquid account at Capital One: With the bank’s 360 Performance Savings account, you can enjoy an FDIC-insured account that offers a very competitive rate.