Updated
Fact Checked
Nathan Alderman
Capital One 360 CDs offer great rates without the burden of meeting deposit requirements. Because its APYs are respectable even for low deposit amounts, Capital One is 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 for 2024
Rates as of May 8, 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 | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|
| 4.25% | 4.25% | 4.80% | 4.45% | 4.00% | 4.00% | 3.95% | 3.90% |
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 May 8, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
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 |
Overview of Capital One 360 CDs
Capital One 360 CD accounts offer a diverse range of term lengths from six months to five years. They have no minimum deposit requirements, which is somewhat of a rarity, even among online CDs. Here are some of the key stats you need to know:
| Minimum Deposit | $0 |
|---|---|
| Range of Term Lengths | 6 months to 5 years |
| Compounding Schedule | Monthly |
| Early Withdrawal Penalty | 3 months of interest (12-month CD or less), 6 months of interest (More than 12 months) |
| Grace Period | 10 days |
Data source: Capital One.
Capital One 360 CD pros and cons
Capital One 360 CDs are highly competitive CDs, especially among those offered by banks with extensive branch networks. But like every financial product, they aren't perfect, so here are the pros and cons to keep in mind.
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
- Automatically renews to current rates
How much can you earn with a Capital One 360 CD?
CD interest rates can and do change over time, so the amount you can earn will depend on the exact APY you receive when you open your CD. However, we can use Capital One's rates as of May 7, 2024 to give an example. Here's a table illustrating what potential earnings could look like if you deposited $1,000 into a few different terms offered for the Capital One 360 CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
| Term | APY | Earnings |
|---|---|---|
| 6 months | 4.25% | $21 |
| 12 months | 4.80% | $48 |
| 24 months | 4.00% | $82 |
| 60 months | 3.90% | $211 |
Data source: Author's calculations.
Is a Capital One 360 CD safe?
Every Capital One 360 CD is FDIC insured up to the allowable limit of $250,000 per person, per institution. Plus, Capital One is a massive and long-established financial institution, so savers can be confident that their CDs are secure.
How to open a Capital One 360 CD
The process of opening a Capital One 360 CD is a pretty straightforward one. Here are the steps to follow:
1. Start the account opening process with Capital One
You can do this on the bank's website by clicking the "open account" button on the top of the CD information page.
2. Select the CD you want
Capital One 360 CDs will be listed in order from shortest maturity to longest.
3. Enter your personal information
This will include your Social Security number, and accept the terms and conditions.
4. Link accounts
Link the bank account from which you intend to make your Capital One 360 CD deposit. It can be a checking, savings, or money market account from an external financial institution, or another Capital One account.
Who is a Capital One 360 CD right for?
Capital One 360 CDs can be 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. They also make 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, as is the case with most banks, you can simply open another Capital One 360 CD when you have extra cash since there's no minimum balance requirement. In fact, 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. This can make them a great choice for customers who plan to rely on their CDs for income to cover day-to-day expenses, such as retirees.
Bottom line: Capital One 360 CD rates
Rates as of May 8, 2024
APY = Annual Percentage Yield
Term
Capital One 360 CD
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
4.25%
4.25%
4.80%
4.45%
4.00%
4.00%
3.95%
3.90%
-
Review sources
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.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
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Capital One 360 CDs have no minimum deposit requirement, which makes them ideal for customers without a ton of money to get started, and for people who want to construct a CD ladder.
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There are no monthly maintenance fees or other ongoing expenses with a Capital One 360 CD. However, there is a penalty for withdrawing money before the CD's maturity date, which is equal to three or six months' worth of interest, depending on the CD's maturity date.
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You can close a Capital One 360 CD before it reaches maturity. However, there is a penalty for withdrawing money before the scheduled date, and this is equal to 3 or 6 months' worth of interest, depending on the CD's term length.
Our Banking Experts
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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