Savings rates are averaging 1.48% APY, but you can earn a little more than that with a Capital One Direct Banking savings account. Savings rates on Capital one accounts depend on the account balance, and you need a minimum of $10,000 to earn a 1.6% APY. Other details of the savings account offer include:
- Free online transfers to and from non-Capital One banks
- No fees
- No minimum balance required
- Balances under $10,000 earn a 0.6% APY (as of 10/08/09)
- Savings are FDIC insured up to $250,000 per depositor
Savings rates can change at any time. Interest is compounded daily and credited monthly. There can only be six withdrawals during each calendar month. You cannot get an ATM card with this savings account.
It takes three business days for a withdrawal to be completed when money is transferred to another account. Deposits from external accounts are completed one business day after the transfer is initiated. You can deposit money into savings by online transfers, depositing a check, or wiring money. Accounts from several banks can be linked to a Capital One Direct Banking savings account.
Account statements are sent quarterly, but if there is activity in the account statements are sent monthly.
- 6 Month CD 1.06 %
- 1-year CD 1.32 %
- 2-year CD 1.73 %
- Money Market Account 1.04 %
- Savings Account 1.04 %
- 30-year Fixed Mortgage 5.22 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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