Updated October 24, 2023

Capital One CD Rates

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Interested in Capital One 360 CDs? Here are their rates and how to open one.

Capital One is best known for its credit cards. But, they've also been gaining traction for their impressive savings products.

They offer CDs with up to 5.00% APY that will help you boost your money. You can also choose from various terms ranging from 6 months to 60 months, with no minimum balance to worry about.

Read on to know more about Capital One's CD rates, features, fees, and more!

Capital One 360 CD Rates And Terms

CD TermAPY
6 Months4.25%
9 Months4.25%
12 Months5.00%
18 Months4.45%
24 Months4.00%
30 Months4.00%
36 Months4.00%
48 Months3.95%
60 Months3.90%

Minimum Deposit$0
Terms6, 9, 10, 12, 18, 24, 30, 36, 48, and 60 months
Interest PaymentsMonthly
Early Withdrawal PenaltyTerms 12 months or less: 3 months' interest
Terms <12 months: 6 months' interest
Grace Period10 days (to withdraw penalty-free after maturity)
Limit50 accounts
FDIC-InsuredYes

Capital One has a good range of CD terms you can choose from. In fact, they have a total of 9 terms available.

For short-term goals, they offer CD terms ranging from 6 months to 18 months. But, if you want something for the long haul, they also have terms from 24 months to 60 months.

If you want short term CDs, you may want to look at CDs from other banks because Capital One's rates may not be the best in the market. To maximize interest earnings, consider getting their 12-month and 18-month CDs.

How Much Can You Earn with Capital One CD

Here's how much you can earn with Capital One 360 CDs if you deposit $10,000.

CD TermAPYEarnings
6 Months4.25% $210.29
9 Months4.25% $317.09
12 Months5.00% $500.00
18 Months4.45% $674.87
24 Months4.00% $816.00
30 Months4.00% $1,030.20
36 Months4.00% $1,248.64
48 Months3.95% $1,676.10
60 Months3.90% $2,108.15

When are Capital One CDs paid?
Capital One 360 CD interest is accrued daily and is compounded and credited to your CD account monthly. You also get the option to receive your interest disbursement either monthly, yearly, or by the end of your term.

How Capital One CDs Compare

Capital One 360 CD Pros and Cons

Pros:

  • No maintenance fees
  • No opening deposit
  • 10-day rate lock guarantee
  • Various CD terms available
  • IRA CDs available
  • Access to physical locations
  • 24/7 customer service
  • FDIC-insured

Cons:

  • Early withdrawal penalties
  • Monthly compounding interest
  • No-penalty CD not available
  • Bump-up CD not available

Which aspect of Capital One 360 CDs interests you the most?

Capital One 360 CD Rate Lock Guarantee
Capital One gives you the highest rate they offer on the CD if you fund your account by linking to an external account within 10 calendar days of applying for a CD.

Fees And Penalties

Most banks will not allow you to close your CD pre-maturely without paying early withdrawal penalties. This rule applies to Capital One's 360 CDs as well.

If you need to close your 360 CD early, here's what you'll have to pay depending on your CD term:[1]

CD TermEarly Withdrawal Penalty
12 months or less3 month's worth of interest on the original principal balance
More than 12 months6 month's worth of interest on the original principal balance

Can You Lose Money with a Capital One CD?

Generally, you won't lose money with a Capital One CD because Capital One is FDIC insured (FDIC Cert #4297). This means the government will cover your deposits in case the bank fails, up to $250,000 per depositor, per ownership category.

However, you can lose some of your earnings due to early withdrawal penalties if you withdraw before maturity. And in some cases, if you withdraw early enough, the penalty could even eat into the principal.

For example, say you open a 12-month CD with Capital One, but things came up and you need to close it in 2 months. In this case, the penalty is 3 months' worth of interest. So you would lose some of your principal.

How To Open A Capital One 360 CD Account

You can open a Capital One 360 CD account at any of their locations or online. Here's how to do it through their website:

  1. Visit Capital One's official website and go to the 360 CD Accounts page under Checking & Savings.
  2. Click on Open Account and choose the details that apply.
  3. Select your preferred 360 CD term and rate.
  4. Fill out the form and provide the necessary documents.
  5. Fund your account.

How To Fund A Capital One 360 CD Account

You can fund your Capital One 360 CD via an electronic transfer (ACH). You can transfer from your Capital One savings account or link an external bank account.[2]

Tip: To take advantage of Capital One's rate guarantee, make sure you fund your CD within 10 days of opening an account.

How To Withdraw At Maturity

Capital One will send you a reminder 30 days before your 360 CD matures. But you should start thinking about what to do with your money before then.

You can choose to do any of the following:

  1. Automatically renew your CD with the same terms
  2. Renew your CD with a different principal balance, term, or both
  3. Close your CD and withdraw all funds

Upon the maturity of your 360 CD, you get a 10-day grace period which you can use to decide on what you'll do with your account.

If you don't do anything, your CD is automatically renewed and Capital One will send you a renewal notice.

Capital One has multiple locations all around the US. But, unlike other banks, they also have Capital One Cafes where you can enjoy a cup of coffee whilst doing banking errands.

CD Ladders with Capital One CDs

A CD ladder is a strategy where you split up your money into multiple CDs with different rates and terms. The goal is to have CDs mature at regular intervals. This way, you have cash on hand to use or reinvest whenever a CD matures.

Capital One offers 12-month and 18-month CDs that are worth considering as the longest term for CD a ladder.

Use our CD ladder calculator below to see how much you can earn with Capital One 360 CDs.

CD Ladder Calculator

Should I Open A Capital One CD Account?

Capital One offers competitive CD rates with a variety of terms to choose from. If you're looking for a low-risk investment to boost your savings, they are a good bank to check out.

If you're looking for flexibility and good rates, your best bet would be to build a CD ladder with Capital One's 360 CDs. Make sure to do research and compare CD rates before deciding on one.

References

  1. ^ Capital One. 360 CD account disclosures, Retrieved 10/5/2023
  2. ^ Capital One 360 CD, Retrieved: 10/10/23
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