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Capital One CD Rates

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by Lauren Perez Updated
Capital One CD Rates

As part of its 360 suite, Capital One offers certificates of deposit (CDs) with a range of term lengths. Each term has a competitive interest rate, allowing you to maximize your savings no matter your savings goals. Your rates are locked in from the moment you open the account until the maturity date. 

You can only open and manage Capital One 360 CDs online. This is made easier with the bank’s extensive online and mobile app features. They allow you to easily check on your accounts and make transactions. You can open up to 50 CDs at once with Capital One and you can access them all online and on mobile.

360 CD® Minimum Deposit APY Apply
6 Month $0 0.60% Compare CD Rates
9 Month $0 0.75% Compare CD Rates
12 Month $0 2.40% Compare CD Rates
18 Month $0 1.75% Compare CD Rates
24 Month $0 2.50% Compare CD Rates
30 Month $0 2.50% Compare CD Rates
36 Month $0 2.55% Compare CD Rates
48 Month $0 2.60% Compare CD Rates
60 Month $0 3.00% Compare CD Rates

Overview of Capital One 360 CDs 

Capital One 360 CDs do not charge any maintenance fee. You also don’t have to deposit a minimum amount in order to open an account. It’s important to remember that you cannot make any additional deposits into a CD. Once you open an account, you cannot touch it again until it reaches maturity. At that time, you can deposit more money, withdraw or transfer the funds or renew the account. 

You will face a penalty for making any early withdrawals from your CD. For accounts with terms lasting 12 months or less, you’ll have to pay three months’ interest as a penalty. For longer accounts, you’ll have to pay six months’ interest. This penalty varies from financial institution to institution. 

Compare Capital One CD Rates to Other Top Offers

Earn over 8 times the national average with a CIT Savings Account. Get 2.15% APY on balances of at least $25,000 OR monthly deposits of $100 or more with an initial $100 minimum deposit.

How Much You Earn With Capital One 360 Certificate of Deposits Over Time 

As is the case with any account that earns interest, the larger your deposit, the more you’ll earn within a given time. Longer CD terms also tend to carry higher interest rates. So while you might go straight for the highest CD rates, you’ll likely have to wait years to access those funds. In that case, you may want to consider CD laddering. This simply means opening a number of CDs, each with a different maturity date. If you open four different CDs, that will allow you some extra income after, say, six months, 12 months, 30 months and 60 months. 

Interest accrues daily and compounds monthly on Capital One 360 CDs. You can receive the earned interest on a monthly or yearly basis. The table below shows what your final balances could be according to various deposits and term lengths.

Initial Deposit 6-Month CD 12-Month CD 60-Month CD
$1,000 $1,002 $1,021 $1,130
$2,500 $2,505 $2,551 $2,825
$5,000 $5,010 $5,103 $5,651
$10,000 $10,020 $10,205 $11,302

How Capital One 360 CDs Rates Compare to Other Banks 

Capital One offers some of the highest CD rates in the industry. As you can see in the accompanying table, its rates compete with other high-performing banks, like Ally and Marcus by Goldman Sachs. Whether Capital One has a higher rate than a competitor will depend on the term length. For example, a yearlong Capital One 360 CD earns at a lower APY than a yearlong Ally CD. However, Capital One offers a higher rate on its longer term accounts like the three-year and five-year terms.

CD Account Capital One Ally Bank Marcus by Goldman Sachs
1 Year 2.25% 2.10% 2.20%
3 Year 2.40% 2.40% 2.35%
5 Year 2.80% 2.40% 2.80%

Should You Get a Capital One 360 CD Account?

Opening a Capital One CD gives you the flexibility to save toward both short-term and long-term goals with its various term lengths. Whether you need a few extra dollars in six months or a hundred more in a few years, a CD can do that for you. 

By not requiring a minimum deposit, Capital One allows you to open a CD with whatever savings you have available. However, don’t forget that you cannot make any additional deposits until the account reaches its maturity date. 

Another important aspect of CDs is that you cannot easily make withdrawals at any time. If you think you’re likely to need constant withdrawals, you may want to consider a savings account instead. That way, you’ll be able to access your funds six times each statement cycle, instead of once every few months or years. 

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Best Places to Save

SmartAsset’s interactive map highlights the places in the country where people have the opportunity to save money. Zoom between states and the national map to see the best places to save.

Rank County Median Household Income Cost of Living Purchasing Power Estimated Tax Rate

Methodology Where you live can have a big impact on how easy it is to save money based on several regional factors. Our study aims to find the most suitable places for people to save based on median household income, average living expenses and income tax burden.

First, we calculated the average cost of living in each county for a household with two adults (one working). We then created a purchasing power index for each county. This reflects the counties with the highest ratio of household income to cost of living.

To better compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $50,000 annual income in each location. Next, we created an effective tax rate index for each county, which reflects the counties with the lowest ratio of income taxes to the assumed $50,000 annual income.

Finally, we calculated the weighted average of the indices to yield an overall best places to save score. We used a three-fourths weighting for purchasing power and a one-fourth weighting for tax rates. We indexed the final number so higher values reflect places that are better to save.

Sources: US Census Bureau 2016 5-Year American Community Survey, MIT Living Wage Study