Capital One 360 is a personal banking product designed for people who want to save more and earn higher interest rates. The program uses an easy-to-understand savings plan that lets you choose how much money to deposit, when, and where. With the help of Capital One 360’s high APYs, it might be worth your time checking out their account today!

Capital One 360 Performance Savings is a savings account that offers the highest interest rate of 0.60% APY. The account also has no minimum balance requirement and can be opened online or at one of over 2,000 Capital One branches nationwide. Read more in detail here: highest interest savings account.

Capital One 360 Performance Savings – Now 0.60% APY

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Capital One is the fifth-largest consumer bank in the United States, despite the fact that it was created in 1994. Capital One is a considerably younger organization than other large banks, which shows in the way it embraces technology and innovation.

Capital One bought ING Direct, a failing international financial services business, in 2011, and renamed these accounts as Capital One 360 accounts. Capital One 360 became the bank’s online sector, with a range of online savings, checking, and certificate products that are different from Capital One products.

The following FDIC-insured products are now part of the Capital One 360 product suite:

  • The 360 Savings Account for Performance (Variable rate of 0.60 percent APY)
  • 360 CDs (Fixed rates, see the rates here)
  • IRA Savings Account 360 (Variable rate of 0.60 percent APY)
  • 360-degree inspection (Variable rate of 0.10 percent APY)
  • Children’s Savings Account (Variable rate of 0.30 percent APY)
  • Checking Money for Teens (Variable rate of 0.10 percent APY)

We’ll go through the variable rate savings accounts, such as the 360 Performance Savings account, 360 IRA Savings account, and Kids Savings account, in this study.

This article will teach you:

It’s no secret that the Capital One 360 Performance Savings account is what draws many consumers to the digital institution. The account is available to almost anybody and has previously offered substantial cash incentives. The account still pays a good 0.60 percent annual percentage yield now.

Rate of Savings

Deposit Requirement Balance Required APY
$0 $0 0.60%

To give the yield above some context, the national average for savings accounts sits at just 0.07% currently. However, there are some banks offering Rate of Savingss above the 1.0% APY mark since the FED’s rate hike on May 4 of this year.

Interest Compounding

Interest is compounded regularly and paid. When interest is paid, it is credited to the Performance Savings account.

A 360 Performance Savings account is simple to establish and takes around 5 minutes to set up. Electronic funds transfers between Capital One accounts and external bank accounts are simple.

Fees

Fees for the Capital One 360 Performance Savings Account

Type Fee
Account Management $0
Domestic Wire Exiting $30
Copies of Statements $5 for each statement

You may only conduct six transactions—withdrawals or transfers—into or out of this account every month, according to federal rule D. The FDIC insures all Capital One 360 deposit products up to $250,000 per depositor.

For your IRA (individual retirement account) or Roth IRA, Capital One provides a variable rate online savings account.

360 IRA Online Rate of Savings

Deposit Requirement Balance Required APY
$0 $0 0.60%

You’ll need to create an IRA or Roth IRA with Capital One first if you don’t already have one. Go to 360 IRA Online Savings and choose the plan that best suits your requirements.

There are several distinctions between traditional and Roth IRAs. To summarize, Traditional IRA contributions may be made before taxes are deducted from your paycheck, and profits inside the account are taxed after the money are withdrawn (presumably, incrementally starting at retirement).

Roth IRAs are the polar opposite of traditional IRAs in that contributions are made using after-tax funds, and withdrawals from the account after retirement are tax-free.

Before making your final choice, you should contact with your tax professional.

These accounts are excellent for teaching children the importance and discipline of saving money. You’ll need another account before you can start the Kids Savings Account, but once you do, you’ll be able to set up automatic allowance contributions and monitor transactions.

Rates for Children’s Savings Accounts

Deposit Requirement Balance Required APY
$0 $0 0.30%

There are some cool savings tools for you and your kid(s) to employ in addition to the main functions stated above. You may, for example, set up different accounts for each of your children’s savings objectives so they can track their progress.

The account offers a nice APY of 0.07 percent, which is higher than the national average. If you’re solely looking for high rates, though, there are superior youth-focused savings accounts available via nationally accessible credit unions.

Capital One received a good 3.7 out of 5 stars from WalletHub’s 63,534 user reviews. This may seem to be ordinary, but with 61 percent of all Capital One reviews being 4 or 5 stars, it’s fair to conclude that most consumers are satisfied with their banking experience. Capital One is known for its exceptional travel and rewards credit cards, which helped the bank get started, and for going above and beyond for its clients. 

Despite the fact that most banks and credit unions profess to care more about their clients’ pleasure and well-being than anything else, few really do. Capital One’s individualized customer service and “customer-centric culture” are so good that Forbes wrote an article on it (which has subsequently been deleted). And, for the most part, there aren’t any notable complaints about the bank.

To contact customer service, dial 1-(877)-383-4802 for general assistance or look for the exact help center that may assist you with your issue. Call 1-(800)-289-1992 for new customers and 1-(888)-464-0727 for current customers for 360 support; both lines are open from 8 a.m. to 11 p.m., seven days a week. You may also follow @AskCapitalOne on Twitter.

All 360 accounts may be handled entirely digitally using the Capital One mobile app for Apple and Android smartphones, as well as the simple and comprehensive internet site. Clients of Capital One 360 may expect to have about the same access to customer service, branches, ATMs, and other services as customers of the conventional bank, despite the fact that the digital bank is officially independent from its physical and mortar parent. 

You can do everything you need to do with your money—from financing to withdrawals—all from your phone or computer, but maybe you prefer to handle your money at a branch or at an ATM. Capital One 360, unlike many other online banks, allows you to do so. 

You will have access to over 39,000 surcharge-free ATMs and over 900 branches/cafés as a Capital One 360 user. However, with just eight branches in the United States, accessibility may be restricted for a bank, but it is still significantly better than most online-only organizations.

The “capital one money market rates” is a credit card that offers 0.60% APY on balances up to $10,000.

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