Picture by Adobe Inventory; Illustration by Tiffany Herring
Capital One is a full-service on-line financial institution that gives high-yielding financial savings accounts for adults and youngsters. Though you will discover barely increased yields elsewhere, Capital One’s rates of interest are a lot increased than these provided by most different large banks and the accounts are simply accessible.
Capital One is called a know-how chief. A Capital One financial savings account ought to solely take round 5 minutes to open on-line, and you may entry your cash 24/7 by way of on-line banking or the cell banking app. Moreover, there isn’t any minimal deposit required and no month-to-month charge together with the excessive yield provided.
Capital One earned 4.7 out of 5 stars in Bankrate’s assessment throughout its deposit merchandise, and its financial savings accounts earned a rating of 4.4 out of 5 stars. Capital One was additionally named the Greatest Massive Financial institution as a part of the 2024 Bankrate Awards.
Capital One financial savings account rates of interest
Capital One gives an ordinary financial savings account for adults, often called the 360 Efficiency Financial savings, in addition to an account designed for minors:
| Account title | APY | Minimal deposit |
|---|---|---|
| 360 Efficiency Financial savings | 4.25% | No minimal |
| Youngsters Financial savings Account | 2.50% | No minimal |
Observe: Annual proportion yields (APYs) proven are as of June 7, 2024 and will differ by area for some merchandise.
How Capital One’s financial savings account compares to top-yielding banks
Whereas the yield on Capital One’s 360 Efficiency Financial savings account is very aggressive, it’s potential to seek out increased charges elsewhere. EverBank, for instance, gives a better APY and costs no month-to-month charges with no minimal quantity required to open its EverBank Efficiency Financial savings account.
Earlier than selecting the place to stash your financial savings, evaluate the most effective financial savings account charges. With a better rate of interest, you possibly can set your self as much as obtain your monetary objectives a bit sooner.
Different financial savings choices at Capital One
Along with the 360 Efficiency Financial savings, Capital One gives a Youngsters Financial savings Account geared towards kids, to assist get them into the behavior of saving. The Youngsters Financial savings Account has no minimal stability requirement and is fee-free, though its yield is way decrease than the 360 Efficiency Financial savings Account.
For these savers in search of different choices, Capital One CDs provide phrases from six months to 5 years, every with no minimal stability requirement.
