Capital One 360 review: Earn competitive interest rates with no opening deposits

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Capital One 360 pays high interest rates on savings.

The bottom line: Capital One 360 is an overall strong bank. You’ll earn competitive interest rates on online savings accounts and CDs. 

Overall bank rating

Feature
Insider rating (out of 5)

Savings
4.5

Checking
4.5

CD
4.5

Trustworthiness
4

Total score
4.5

Pros and cons

Pros
Cons

Strong digital banking platform

Good for travel

Competitive savings rates

Separate accounts for children

Receive paychecks up to 2 days sooner with early direct deposit

 

No money market accounts
Might have to deal with out-of-network ATM fees

Savings

Capital One doesn’t require an initial deposit or minimum account balance, and it doesn’t charge a monthly service fee.

The Capital One 360 Performance Savings account pays one of the top rates in the industry. You can find a higher rate at a couple other big-name banks, but it’s definitely one of the best out there. Your child can earn 0.40% APY with a kids savings account, and the rate will jump up to the regular interest rate once they turn 18.

Capital One 360 Performance Savings makes it easy to save for various goals. Set a savings goal and your target amount, then schedule recurring transfers from your Capital One 360 Checking account until you’ve saved the full amount.

Checking

Capital One doesn’t charge foreign transaction fees, making it a great option for regular travelers. There are no monthly fees, and the bank provides several overdraft protection options. The account also has an early direct deposit feature so you can receive paychecks up to two days early.

CD

Capital One 360 CDs come with term lengths …read more

Source:: Businessinsider

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