Capital One Raises 1-Year 360 CD Rate to Competitive Level


Deal Summary: 12-month CD, 1.30% APY, no minimum deposit

Availability: Nationally available

Capital One made a large increase to its 1-year 360 CD rate. The APY increased 40 basis points to 1.30%. This rate increase brings the 1-year CD to a competitive level. Capital One now has competitive online CD rates with terms from one to five years.

1.30%--Capital One12 Month 360 CD
Accounts mentioned in this post. Rates as of February 28, 2017.

One thing to note is that this is a 360 CD from Capital One. Capital One 360 no longer exists as a separate entity. It’s now under Capital One. All of the Capital One 360 products still exist with the same names as before, but they’re now offered from the website. now forwards visitors to

Capital One 360 CDs have no minimum deposit requirement or maximum balance cap. As stated in the Capital One CD account disclosure, the Early Withdrawal Penalty reads as follows:

For a CD with a twelve (12) month or shorter term, the penalty is three (3) months interest, regardless of when you redeem the account prior to maturity.
For a CD with a term greater than twelve (12) months, the penalty is six (6) months of interest regardless of when you redeem the account prior to maturity.

One new feature that Capital One recently added to their 360 CDs is the 10-day rate lock guarantee. As stated in the CD account disclosure , the guarantee reads as follows:

We will lock interest rates for up to 10 calendar days if you fund your account within this time period. We will also match any interest rate increases during this 10-day period, up to the time you fund your account.

This looks very similar to the Ally Ten Day Best Rate Guarantee.

A noteworthy aspect of Capital One 360 is their online CD management software that makes it very easy to open and close CDs. To test this software, I opened up a small 360 CD at Capital One last year. Once the CD is opened, you can view the details of the CD when you log in. An important detail listed is the current early redemption value. Next to the early redemption value is a “close” link. By clicking this link, you can close the CD at almost any time and have the funds moved to your checking account. When I tried this last year, the CD funds (minus the early withdrawal penalty) were immediately available in my Capital One 360 checking account.

Capital One 360 CDs do have some downsides. First, Capital One does not permit partial withdrawals of principal during the term of the account. If a withdrawal request is made, the entire principal will be withdrawn and the early withdrawal penalty will be applied.

Another downside is that Capital One does not allow payable-on-death (POD) beneficiaries on their online accounts.


Headquartered in McLean, Virginia, Capital One has a large branch network in several states, but its online products under the 360 brand, are only available online or by phone. Any U.S. citizen or permanent resident with a valid Social Security number can open an account at Capital One's website.

CDs may be opened online or by phone (800.289.1992). The opening deposit must be made from a personal checking account.

The Capital One account disclosure states:

Account opening deposit must be from a personal checking account only. Please note:

We don't accept brokerage, money market or savings accounts (institutions put restrictions on these types of accounts that prevent electronic transfers).

If your check has the words "Payable Through" with another bank name listed near the memo field, it can't be linked.

Bank Overview

Capital One (FDIC Certificate # 4297) has an overall health grade of "A" at, with a Texas Ratio of 6.09% (excellent), based on September 30, 2016 data. In the past year, Capital One has increased its total non-brokered deposits by $10.63 billion, an excellent annual growth rate of 5.33%. Please refer to our financial overview of Capital One for more details.

Capital One has both a large branch network and a large internet banking unit. The internet banking unit used to operate as Capital One 360. In 2012, Capital One acquired the internet bank, ING Direct, and in 2013, ING Direct was converted into Capital One 360.

How the CD Compares

When compared to 205 similar length-of-term CDs tracked by that are available nationally, 15 banks and credit unions have higher rates. Below is a sample of these:

Interest RateAccount NameCredit Union/Bank
1.45% APY12-month Jumbo Share Certificate ($10k min)Andrews Federal Credit Union
1.40% APY12-month online CD ($10k min)PurePoint Financial
1.30% APY12-Month 360 CD (no min)Capital One

The above rates are accurate as of 3/1/2017.

To review the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our Rates Map page.

Capital One 360 Offers $100 Money Market Bonus
Availability: Nationally available

In March, I wrote about Capital One 360’s new 360 Money Market, which currently earns 1.00% APY on balances of $10k+.

For the next ten days, Capital One 360 is offering a $100 bonus when opening a new 360 Money Market account by December 15, 2016, and depositing at least $10k by December 31, 2016.

The requirements to earn the $100 bonus are straightforward:

  • Open your “very first” 360 Money Market account online by December 15, 2016.
  • Use the promo code “Merry100.”
  • Deposit at least $10k (from an external account)...
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Capital One 360 Hikes All CD Rates
Availability: Nationally available

Following precipitous rate drops in June, Capital One 360’s long-term CDs were removed from the bi-weekly CD Rates Summary; the short-term CDs had been MIA from the Summary since February. That changed yesterday when Capital One 360 hiked the APYs on its CDs, with increases ranging from 35 to 75 basis points.

Capital One 360 has no minimum opening deposits or maximum balance caps for any of its CDs. The CDs are also available as IRAs (Traditional and Roth) earning the same APYs, with...

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Capital One 360 Launches New Money Market Account
Availability: Nationwide

Capital One 360 just launched the 360 Money Market. Its features are very similar to the 360 Savings Account except that it’s a two-tier account. Balances of $10,000 and above earn a higher interest rate (currently 1.00% APY). The lower rate for balances under $10,000 is currently 0.60% APY.

Every other feature of the 360 Money Market account appears to be the same as the 360 Savings Account:

  • No monthly maintenance fees
  • No minimum balance requirements
  • Same ACH transfer capability as the 360 savings and checking accounts

More details about the account are...

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Capital One 360 Makes 12-Month CD Competitive
Availability: Nationally available

DA readers may remember me quoting DA member, Cumulus, in previous blog posts referencing Capital One 360’s CD various rate hikes:

"No ‘home runs’ here, but it’s nice to see the increases."

With today's increase on the Capital One 360's 12-month CD (1.30% APY), I don't think I can't use that line anymore.

Capital One 360 has no minimum opening deposits or maximum balance caps for its CDs. The CD is also available as an IRA (Traditional and Roth) earning the same APY.

As stated in the FAQs on...

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Capital One 360 Increases Rates On Four CDs
Availability: Nationally available

Last May, Capital One 360 increased the rates on several of its CDs for the first time in over two years. At the time, DA member, Cumulus, pointed out in a Forum post, "No ‘home runs’ here, but it’s nice to see the increases."

Cumulus’ statement could apply to yesterday’s CD rate increases on their 18-month (1.20% APY), 24-month (1.30% APY), 30-month (1.40% APY), and 60-month (2.20% APY).

Capital One 360 has no minimum opening deposits or maximum balance caps for its CDs. These CDs are...

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