Capital One Savings Account

Capital One is offering a savings account that currently has a rate of 1.39 percent and an annual percentage yield of 1.40 percent. The interest rate isn’t the highest savings rate around but still beats the national average rate.  The minimum balance to earn the 1.40 APY is $2,500.

Capital One Direct Banking, which is the online banking arm of Capital One, is also offering a 10 percent savings bonus on the interest earned on the account.  If you earn $100 in interest for a quarter the bonus comes to an additional $10.

Requirements for the 10% Bonus:

To receive the bonus you must either maintain an average monthly balance of at least $15,000 every month of the previous quarter, or you must be an owner of an active Capital One Credit Card in good standing (not restricted, not over limit, not past due), with at least one transaction per calendar month.

Capital One Bank is also advertising a high yield money market account that currenlty has an APY of 1.10%, a Rewards Money Market account with an APY of 1.01 percent and a business money market account with an APY of 1.01 percent.

For more information on Capital One Bank’s Savings Account visit: Capital One.