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Capital One 360 Bank CD Rates Increased
 

Capital One 360 Bank CD Rates Increased

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Capital One 360 Bank increased some of their short term and long term CD rates. The largest percentage increase was an increase of 325 percent on Capital One 360 Bank's 1 year CD rate. Capital One 360 Bank also increased rates on their 18 month and 5 year certificates of deposit.

The old 1 year CD rate and yield at Capital One 360 Bank was a measly 0.40 percent. The new 1 year CD rate is 1.29 percent with an APY of 1.30 percent. The new 1 year rate places Capital One 360 Bank at the top of our 1 year rate list. The bank is now tied with EverBank and E-Loan for the highest 1 year rate.

The 18 month CD rate at Capital One 360 Bank was increased from 1.19 percent with an APY of 1.20 percent, to 1.29 percent with an APY of 1.30 percent. The 5 year rate was increased from 2.18 percent with an APY of 2.20 percent to 2.23 percent with an APY of 2.25 percent.

Certificates of deposit at Capital One 360 Bank have the following benefits:

  • Deposits are FDIC-insured up to $250,000 per depositor
  • Variety of CD terms – between 6 and 60 months
  • Get paid interest when you want it. You decide when to get interest paid - it can be at end of the CD term, monthly, or annually.
  • Receive interest disbursements to a 360 Checking, 360 Savings, or an externally linked checking account
  • You can register your CD account in a Revocable Living Trust

As with any certificate of deposit, there is an early withdrawal penalty. Listed below are the Capital One 360 Bank early withdrawal penalties:

  • For a CD term that is 12 months or less, the penalty is three (3) months of interest regardless of when, prior to maturity, you make a withdrawal.
  • For a CD term that is longer than 12 months, the penalty is six (6) months of interest regardless of when, prior to maturity, you make a withdrawal.

Also keep in mined that depending on how early you redeem an CD, the early withdrawal penalty may be greater than the interest you have earned on the deposit and will be subtracted from the initial amount.

Get all current CD rates at Capital One 360 Bank

See how Capital One 360 Bank's CD rates compare with other bank rates by searching our rate lists at RatesORama.com.


Author: Brian McKay
January 16th, 2016