![]() As soon as the account is opened, the duration of the welcome interest rate starts.The welcome interest accrues overnight interest and is fixed every day. The duration of the welcome interest rate is 90 days.However, we may receive compensation when you click on links to products or services offered by our partners. It has not been provided or commissioned by any third party. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. Although Capital One doesn’t require a minimum deposit to open a savings account, you may choose to make a deposit to fund your account upon opening it. When your information is confirmed, you’ll receive your account and routing numbers. If you’re opening a Kids Savings Account, you’ll need a guardian over the age of 18 to get started. To get started, you’ll need your name, a government-issued ID, your Social Security number and some personal information - including your birth date, physical address and contact information. If you already have a Capital One account, you can sign in to start your application online. You can sign up for a Capital One savings account online or at a nearby branch. How to sign up for a Capital One savings account Although most of the top-yielding savings accounts are from online-only banks, your local credit union may be a good option as well. If you don’t live near a Capital One branch or ATM, consider another savings account with similar features and a competitive APY. ![]() If you prefer in-person banking services, Capital One’s physical locations are concentrated in New York, Louisiana, Maryland, Virginia, New Jersey, Texas and the District of Columbia. We also like that this account doesn’t charge any monthly maintenance fees or require a minimum balance. While you can earn higher interest at other online banks or credit unions, Capital One also balances the convenience and higher rewards rates of online banks with physical branch access like traditional banks. Its competitive APY for its high-yield savings account is the main draw. You also have the flexibility to manage your account, withdraw cash and make deposits via the mobile app or at one of its physical branches. Is a Capital One savings account right for you?Ĭapital One’s 360 Performance savings account works for almost anyone and even lets you manage multiple bank accounts from Capital One’s mobile app. And, like its savings account, its CD account has no minimum balance requirement to open an account. Its one-year CD, for example, has an APY of 4.75%, and its five-year CD has an APY of 4.10%. ![]() In addition to its 360 Performance Savings and Kids Savings Account, Capital One offers its 360 CD account - with nine terms ranging from six months to five years. ![]() In addition, Capital One has an easy application process and mobile app to track balances and transfer money between accounts. Its 4.15% APY is lower than rates offered by Synchrony, which offers a 4.30% APY.Ĭompared to the biggest US banks, however, Capital One ranks among the highest, far above Bank of America and Chase, which both offer a rate of only 0.01% APY. How do Capital One’s savings account rates compare with those of other banks?Ĭapital One’s 360 Performance Savings rate, although competitive, is slightly lower than some competitors, including online-only banks. Parents can also create more than one Kids Savings Account for each of their child’s financial goals, according to Capital One. Parents can link their bank account (be it a Capital One account or an account from another bank) to their kid’s account. In addition to no fees and no minimum balance requirements, the Kids Savings Account offers an automatic savings option so that kids can set up automatic savings on their allowance and make regular deposits. In addition, balances in your online account are insured by the Federal Deposit Insurance Corporation for up to $250,000 per person.Ĭapital One provides a savings account for children - which requires parental supervision - to help them understand the fundamentals of personal finance with a savings account that’s “kid-friendly with grown-up benefits.” Capital One’s online and mobile banking services make it possible to open a 360 Performance Savings account in as little as five minutes. ![]() Capital One: At a glance Savings accountĬapital One’s 360 Performance Savings account offers more than just a competitive annual percentage yield of 4.15%. Neither account requires a minimum deposit or charges monthly fees. Capital One offers two savings accounts: 360 Performance Savings and, for young savers, its Kids Savings Account. ![]()
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