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Capital One 360 Bank Decreases CD Rates

Capital One 360 Bank, the online banking division of the credit card company Capital One, has lowered their CD rates. Both jumbo and regular CD rates at Capital One 360 Bank were lowered. The largest CD rate decrease was on the bank's regular 4 year certificate of deposit, which was lowered by 40 basis points.

4 year CD rates were lowered from 1.69 percent with a yield of 1.70 percent to 1.29 percent with a yield of 1.30 percent. Capital One Bank's former 4 year rate placed the bank in the top ten rates in our database at seventh place. The new 4 year rate places Capital One Bank's rate at nineteenth place, much lower than the highest rate of 1.80 percent APY from E-Loan.com.

You can view our entire database of CD rates for many different terms from many different banks at MonitorBankRates.com.

CD Rate Changes at Capital One

ProductRate (New / Old)Yield (New / Old)
2 yr CD1.29 / 1.391.3 / 1.40
2.5 yr CD1.29 / 1.441.30 / 1.45
3 yr CD1.29 / 1.491.30 / 1.5
5 yr CD1.49 / 1.881.50 / 1.90
2.5 yr jumbo CD1.29 / 1.191.30 / 1.20
5 yr jumbo CD1.49 / 1.691.50 / 1.70
2 yr jumbo CD1.29 / 1.091.30 / 1.10
4 yr CD1.29 / 1.691.30 / 1.70
4 yr jumbo CD1.29 / 1.391.30 / 1.40

Capital One Bank is an online bank headquartered in Glen Allen, Virginia. The Bank's official legal name was changed recently from Capital One Bank to Capital One Bank (USA), National Association. Deposits are insured by the FDIC up to $250,000 per depositor, the banks FDIC cert number is 33954.

One of the unique features of Capital One's certificate of deposit accounts is you can decide when you want to be paid interest that is earned. The options are monthly, annually or at the end of the CD term. Keep in mind, this is when you are paid interest, not when interest is earned on the account. Interest earned on your CD account is accrued daily and compounded monthly.

Capital One Certificate of Deposit Info

  • FDIC-insured up to $250,000 per depositor
  • CD Terms of 6 months to 5 years
  • 10 day rate lock guarantee: Lock your interest for up to 10 calendar days if you fund your account within this time period. The bank will match any interest rate increases during this 10-day lock period, up to the time you fund your account.

Early Withdrawal Penalty on CD Accounts at Capital One

  • For a CD term of 12 months or less, the penalty is three months of interest regardless of when, prior to maturity, you make a withdrawal.
  • For a CD term longer than 12 months, the penalty is six months of interest regardless of when, prior to maturity, you make a withdrawal.

As with any online bank, you can open a Capital One CD account online at Capital One CD Account Application. If you have any questions, you can talk to a real person by calling Capital One at 1-800-289-1992.

Author: Brian McKay
June 28th, 2016