In addition to savings and checking accounts, Capital One 360 offers a full spectrum of CDs with different terms. Rates are competitive, and there’s no minimum deposit.
Interest accrues daily and compounds monthly for all CDs. Customers can have up to 50 CDs open at once.
Early withdrawal penalties vary based on the length of the term and are standard compared with the policies at other banks. For CDs with terms of 12 months or fewer, the penalty for withdrawing early is three months of interest. For CDs with terms longer than 12 months, the penalty for withdrawing early is six months of interest.