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.
CD Rate Changes at Capital One
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
Early Withdrawal Penalty on CD Accounts at Capital One
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.
Banking & Finance InformationPersonal Finance