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Capital One 360 CD Review

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  • Financial Rates: 5.0 Star Icon
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  • Variety of Terms: 5.0 Star Icon
  • Opening Required Amount: 5.0 Star Icon
1.90%APY
1.5 Year CD

Pros:

  • CDs offer competitive interest rates
  • No required amount to open CDs
  • Rate Lock Guarantee
  • Good variety of terms available

Cons:

  • Cannot deposit money during the term
  • Partial principal withdrawal not allowed
  • Must link CDs to external bank accounts

What You Need to Know

The interest rates for Capital One 360 CDs are competitive. Each of the terms offers competitive rates. The rates are competitive with other online CDs. The interest rates are not tiered. There is no required balance to earn competitive rates.

The Capital One 360 CDs do not have a set amount required to open the account. You choose how much you want to invest in the Capital One 360 CDs. The CDs cannot exceed $1,000,000.

Capital One 360 CDs offer a Rate Lock Guarantee. You fund your CD by linking it to an external account, which can be another Capital One account. Capital One 360 gives you 10 days to confirm ownership of the linked account. Because this takes a few days, your CD interest rate will be the highest one offered during those days.

Capital One 360 offers a good variety of CD terms. The CDs range from six months to five-year terms. They offer a total of nine CD terms. Each of the terms is FDIC insured.

The only deposit you can make into your CD is when you initially open the account. You cannot add money to the CD during the term life.

During the CD term, you cannot withdraw partial amounts of the principal. These types of withdrawals are only allowed during the grace period. If you make a withdrawal before the maturity date, you will be charged a fee.

To fund your Capital One 360 CD, you must link the CD to an external bank account. Once you have the CD linked to an external account, you can transfer money into the CD. The linked account can be another Capital One account.

Once your CD matures, you cannot add money to the current CD. If you have more money to add, your current CD will be closed and Capital One 360 will help you open a new CD. That CD will include the money from the previous CD and the money you want to add.

Cool Things

Online CDs

Capital One 360 CDs are entirely online. You can access your accounts from anywhere at any time. You do not have to visit a branch location to access your CDs.

History

Capital One 360 started in 2012. At this time Capital One acquired ING Direct. By 2013, the bank rebranding had taken place.

Capital One 360 accounts offer competitive interest rates for all their accounts. These accounts are completely online. Along with CDs, they offer personal deposit savings, checking, and money market accounts.

Awards and Recognition

  • “World’s Most Admired Companies” by FORTUNE
  • “Best for Vets” by Military Times

Giving Back

Capital One participates in the READesign program. For this program Capital One partners with The Heart of American Foundation. Together they provide books to children in low-income communities. The books they donate promote financial literacy.

Additional Benefits of Capital One 360

You cannot add money to a CD until the CD reaches maturity, but you can open another CD. Capital One 360 lets you open up to 50 CDs.

Frequently Asked Questions

Is Capital One 360 FDIC insured?

Yes. Capital One 360 is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How many different terms does Capital One 360 offer?

The terms range from six months to five years. The total number of CD terms available are nine. Capital One 360 also offers IRA CDs.

What is the required amount to open a CD with Capital One 360?

There is no set amount required to open Capital One 360 CDs. The CDs do not have a set amount required to keep in the accounts.

How do I deposit money into Capital One 360 CDs?

You can link the CD to an external bank account and fund the account electronically. This account can be from another financial institution or Capital One account.

How do I access my money?

By electronic transfers between other Capital One accounts or linked external accounts. You can also access your money by contacting customer service.

Do I have to open other Capital One 360 accounts before I can open a CD?

No. You can open a CD with Capital One 360 without opening any other accounts. Each customer can open up to 50 Capital One 360 CDs.

Do Capital One 360 CDs offer competitive interest rates?

Yes. Each of the Capital One 360 terms offer competitive interest rates. The rates are competitive with other online accounts.

Can I choose how to receive my interest payments from Capital One 360 CDs?

You can choose whether you have your interest paid at the end of the term, monthly, or annually. You can also choose where the interest payment goes. You can have it transferred to another Capital One account, a linked external account, or into the CD.

What percentage am I charged if I withdraw money before the maturity date?

If you withdraw money from your Capital One 360 CD before maturity, you will be charged a fee. The fee for CD terms less than 12-months is three months’ worth of interest. For CD terms longer than 12 months, the penalty is six months’ worth of interest.

How do I make changes during the grace period?

You can choose your maturity options through the desktop website.

How will I know my Capital One 360 CD is nearing maturity?

The best way is to set your own preference by logging into your account through the desktop website. Once you log in and click on the CD, you can choose your maturity options.

How long is the grace period between renewal?

The grace period for Capital One 360 CDs is 10 days. If you do not contact the bank during this time, the CD will automatically renew. The interest rate will be the current rate at the time of renewal.

Are Capital One 360 CD rates guaranteed for the entire term?

Yes. Capital One 360 offers CD with fixed rates. Once the rate is locked in you will receive that rate until the CD reaches maturity.

Does Capital One 360 offer mobile banking?

Yes. With the mobile app, you can see your CD balances.

Is Capital One 360 a good bank?

The CDs offer competitive interest rates. They offer a good variety of CD terms. There is not a required amount to open any of the CDs. Capital One 360 and Capital One offer a wide variety of other accounts.

Is Capital One 360 secure online?

Yes. They offer security measures that comply with federal laws. They require a secure login to access your accounts online. You can set up alerts for different types of account activity. Capital One 360 will alert you if they see something suspicious.

What is the shortest Capital One 360 CD term offered?

The shortest CD term offered it a six-month term.

What is the longest Capital One 360 CD term offered?

The longest term is a 60-month term.

Does Capital One 360 offer accounts other than CDs?

Yes. They offer a good variety of personal deposit accounts. Capital One offers credit cards, business, and personal accounts. Capital One 360 accounts are only for personal deposits.

Can I use Capital One 360 CDs for my business accounts?

The Capital One 360 CDs are only for personal deposit accounts.

How do I reach customer service?

Contact customer service through phone, email, or mail. Follow Capital One 360 on Twitter, Facebook, Instagram, YouTube, and LinkedIn.

Bank Contact Information

Capital One 360
P.O. Box 60
St. Cloud, MN 56302-0060
1-800-289-1992

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