Updated
Fact Checked
Nathan Alderman
Capital One 360 CDs offer great rates without the burden of meeting deposit requirements. Because their APYs are respectable even for low deposit amounts, they're a great choice for savers who are just starting out with CDs or for people who want to build a CD ladder.
Learn more about Capital One 360 CD rates and how they stack up against the competition in this Capital One 360 CD review.
Capital One 360 CD rates
Rates as of April 23, 2024
APY = Annual Percentage Yield
Term
Capital One 360 CD
6 Mo.
9 Mo.
10 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
4.25%
4.25%
5.10%
4.80%
4.45%
4.00%
4.00%
3.95%
3.90%
Capital One 360 CDs are an excellent way to pursue savings goals. Below, we'll review the details you need to know to see if this is the right option for you.
Compare Capital One 360 CD rates
Capital One 360 CDs consistently rank among the best CDs but rarely offer the highest rates. Compare CD rates below to find the right CD account for your needs.
Rates as of April 23, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
360 CD® pros and cons
Pros
- No minimum deposit requirement
- Physical branches are available
- FDIC insured up to $250,000 per person
- Flexible payout options
- Wide range of CD term lengths
Cons
- Below-average APYs on some term lengths
Full Capital One 360 CD review
Capital One 360 CD accounts offer a diverse range of term lengths from six months to five years. Capital One 360 CD accounts have no minimum deposit requirements, which is somewhat of a rarity, even among online CDs.
This makes them a great choice if you don't have a lot of funds to invest in a CD or you're looking to create a CD ladder. It also makes a lot of sense for people who want to put money in CDs a little at a time. While you can't add to an existing CD, you can simply open another when you have extra cash since there's no minimum balance requirement. Capital One allows customers to have as many as 50 CDs open at a time.
Unlike many competitors that have a set interest payment schedule, Capital One 360 CD accounts offer the ability to choose if you want your interest paid monthly, annually, or in a lump sum at the end of the CD term.
While automatic renewal of CDs is quite common in the banking industry, it's worth noting that upon maturity, Capital One gives a 10-day grace period where you can choose to withdraw some or all of your money before the CD automatically renews into another term of the same length.
Like most banks, Capital One doesn't charge monthly fees on CDs. And while it does have early withdrawal penalties, Capital One's aren't as harsh as those of some of its competitors. Taking money out early with a CD with a term of 12 months or less will result in losing three months' worth of interest, and the penalty for longer CDs is six months of interest.
Finally, while Capital One 360 CD accounts are primarily online CDs, you can also choose to open one in person at a Capital One branch or cafe location if you prefer.
Other banks -- especially those that operate fully online -- offer higher rates, but Capital One is still a top option to consider.
Rates as of April 23, 2024
APY = Annual Percentage Yield
Capital One 360 CD
Bottom Line
Backed by Capital One's well-known brand, the Capital One 360 CDs offer competitive rates across many common terms, though they're stronger in durations of a year or longer. There's no minimum deposit, so savers can benefit even if they don't have a large sum to deposit. Check Capital One's web site for the most up-to-date rates.
MINIMUM DEPOSIT $0
| 6 Mo. APY | 9 Mo. APY | 10 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|---|
| 4.25% | 4.25% | 5.10% | 4.80% | 4.45% | 4.00% | 4.00% | 3.95% | 3.90% |
Other Capital One 360 CD accounts
Capital One also offers the following CD accounts:
- 360 IRA CD®
Who is a Capital One 360 CD right for?
Capital One 360 CDs are great for those who want to maximize savings but can't meet deposit requirements at other banks. They can also be a great fit for those who enjoy the convenience of being able to visit bank branches for assistance but want the higher rate structure associated with online banking.
Read more about Capital One
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
See our full Ratings Methodology here.
FAQs
-
Capital One 360 CDs offer competitive rates at many term lengths with no deposit requirements. Capital One is a rock-solid financial institution with a large physical presence, and the combination of branch banking convenience and yields competitive with fully online banks is rare.
-
Capital One 360 CDs offer guaranteed returns no matter how much money you have to set aside long term. You can find higher CD rates at other online banks, but Capital One 360 CDs have no minimum deposit requirement and offer a few other features that could make them an excellent choice for you.
Our Banking Experts
Kevin Payne is a freelance writer and family travel and budget enthusiast behind FamilyMoneyAdventure.com. His work has been featured in Forbes Advisor, Credible, CreditCards.com, Bankrate, SlickDeals, Finance Buzz, Student Loan Planner, and more. Kevin lives in Cleveland, Ohio with his wife and four teenagers.
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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