Capital One 360 Performance Savings
Product Name: Capital One 360 Performance Savings
Product Description: The Capital One 360 Performance Savings has no monthly fees or minimum balance requirements and earns a competitive interest rate.
Summary
The Capital One 360 Performance Savings is a high-yield savings account that pays 4.00% APY with no monthly fees or minimum balance requirements. You can also earn a welcome bonus of up to up to $1,500 with qualifying activities.
Pros
Cons
When you open the Capital One 360 Performance Savings you’ll earn 4.00% APY and you’ll be eligible to earn a generous wecome bonus. The account has no fees or minimum balance requirements.
Capital One’s Performance Savings should be on your shortlist if you want a high-yield savings account with no fees or account minimums, especially if you have other Capital One accounts, like a checking or credit card account. Unlike some online banks, Capital One has a broad product offering and some physical locations where you can receive in-person service.
The 360 Performance Savings is Capital One’s high-yield, no-fee online savings account. It currently pays an attractive 4.00% APY with no minimum and no opening balance requirements. You can open your Capital One account online in just a few minutes. Your funds are FDIC insured up to $250,000, and you can manage your account using its top-rated mobile app.
There’s a bonus offer on this account – Capital One is offering up to when you open an account using the promo code BONUS1500. The bonus amount is tied to how much you transfer into the account within the first ten days – but this has to be new money to Capital One. You can’t transfer from another account (sorry!). Then, maintain the required daily balance for 90 days, and the bonus will be deposited in 60 days.
The bonus is based on the deposit amount:
If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary or secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.
Learn more about the offer
(Offer expires not listed)
In addition to the 360 Performance Savings, you can save money in Capital One certificates of deposit, known as 360 CDs. Capital One 360 CDs offer a solid interest rate, no minimum balance requirement, and flexible interest crediting options: You can choose to have your CD interest paid out monthly, annually, or at the end of its term.
Current interest rates include options such as:
All Capital One 360 CDs are FDIC-insured up to the maximum allowable limits.
If you don’t have the balance required to qualify for the welcome offer, other savings accounts may be more appealing than Capital One 360. Here are some alternatives to consider.
Ally is an online bank with a high-yield savings account that earns 4.00% APY with no monthly fees or minimum balance requirements. The account also comes with savings buckets that allow you to put your savings into categories, making it easier to save for specific goals.
If you have an Ally checking account, you can also round up your purchases to the nearest dollar and transfer your change into savings.
Here’s our full Ally Bank review for more information.
For more details, read our full Ally Bank review.
Discover’s Online Savings Account also comes with no monthly fees, no minimum opening deposit, and earns 3.90% APY. Opening an account with Discover online is easy — no in-person bank visit is necessary.
For all these reasons, Discover’s product is equal to Capital One’s, and choosing between the two comes down to personal preference or whether either is offering a sign-up promotion.
For more information, read our full Discover review.
CIT Bank’s Platinum Savings product earns 4.70% APY with no monthly maintenance fees. There is a $100 minimum deposit. However, you must keep at least $5,000 in this account to earn the highest rate.
For more details, read our full review of CIT Bank.
Yes, your deposits with Capital One are safe. Not only is the company one of the largest financial institutions in the U.S., but your savings account deposits are FDIC-insured up to $250,000.
While the account has several advantages, other high-yield savings accounts offer higher interest rates, and you can’t link the account to an ATM card. Also, you cannot write checks on the account.
This account earns 4.00% APY . There are no monthly fees or minimum deposit requirements.
Yes. You can open up multiple savings accounts for different savings goals.
The Capital One 360 Performance Savings is a solid high-yield savings account. If you can take advantage of the current bonus offer, it becomes one of the most attractive savings options out there. When it comes to access, if you have a Capital One checking account, you can easily transfer funds from your savings and withdraw from an ATM if required.
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