[mma bank=’Capital One’ alt=’
‘] [/mma]The [mma bank=’Capital One’ alt= ‘Capital One 360 Savings Account’]~APY~% APY Capital One 360 Savings Account[/mma] has replaced the former Capital One Money Market Account. After it’s acquisition of ING Direct in February of 2012, Capital One has simplified it’s financial products under the Capital One 360 brand. Here are the savings related products now offered through Capital One 360:
- [mma bank=’Capital One’ alt= ‘360 Savings’]~APY~% APY 360 Savings[/mma] (no fees or minimums, links to your current checking account for free transfers)
- [mma bank=’Capital One’ alt= ‘Kid Savings Account’]~APY~% APY Kid Savings Account[/mma] (no fees or minimums)
- Certificate of Deposit (6 Month to 5 Year terms)
- IRA CDs
- IRA Savings
- IRA for Stocks, Mutual Funds, or ETFs
- Business Savings Account
- Business CDs (6 Month to 5 Year terms) same yields as regular CDs
- ShareBuilder 401k
- ShareBuilder Investing
Capital One Money Market Account (Now 360 Savings)
What makes the Capital One 360 Savings Account stand out from the rest? A triple play:
- Top 10% Savings Yield
- Automatic Savings Plan
- Custom Unlimited Savings Goals
There are no fees and no minimums. There are no ATM cards or checks with this savings account and online transfers are limited to six per month (the legal limit) and they only offer online statements.
Capital One is also FDIC-insured and has a 4 star rating (Excellent) from Bauer Financial. The BankRate Safe and Sound rating system also gives Capital One a 4 star rating (Sound).
Capital One CD Rates
There are multiple CD options from 6 months to 10 years. As of this post update their CD rates aren’t very competitive (Ally offers 1.59% APY for a 5 year CD while Capital One only pays 1.75% for the same term). Here are Capital One’s CD rates as of September 7 2010:
| CD Term | Annual Percentage Yield* | |
|---|---|---|
| 6 months** | 0.45% | |
| 1 year | 0.40% | |
| 18 months | 0.40% | |
| 2 years | 0.40% | |
| 30 months | 0.70% | |
| 3 years | 0.70% | |
| 4 years | 0.70% | |
| 5 years | 0.90% | |
| 7 years | 2.30% | |
| 10 years | 3.00% |
The minimum investment for these CDs is $5,000.00. There are no fees to open or maintain your account and you can access account information online or by phone.
Capital One has great customer service and you can telephone their banking experts 6 days a week or chat online or email for customer service. Their website was easily navigated and informative, with versatile savings options. As far as financial strength goes, Bauer Financial rated Capital One with 3 ½ stars and Bankrate.com gave Capital One 3 stars – which means Capital One is in average financial condition.
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