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Capital One Reviews

9

bestfor-icon Tech-driven banking solutions

mattlevy
Written by Matthew Levy

About Capital One | Read More

9

LS Score

9

Credibility

8

Support

10

Accessibility

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Opening Hours Opening Hours drop-down-btn
Mon - Sun 8 a.m. to 11 p.m. EST.
Contact Information Contact Information drop-down-btn
  • help@capitalonetradecredit.com
  • 1-877-383-4802
  • McLean, Virginia, 1680 Capital One Drive, United States, 22102-3491
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Capital One Certificate of Deposit Review

Capital One is a full-service bank with a strong online presence, supplemented by physical branches and Capital One Cafés at specific locations. The Capital One 360 CDs stand out as a flexible choice for savers, as they require no minimum deposit, making them ideal for those starting their savings journey.

Interest is accrued daily and compounded, with monthly payouts throughout the CD term. Moreover, Capital One’s 360 CDs offer highly competitive rates, rivaling the best options available in the market.

Capital One Certificate of Deposit Highlight

5.10%

1-Year APY

4.00%

3-Year APY

3.90%

5-Year APY

No minimum

Minimum Deposit

$0

Minimum Balance

None

Monthly fee

Yes

Daily Compounded Interest

Yes

Early withdrawal penalty

Pros & Cons

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  • con-icon No minimum deposit requirement
  • con-icon Competitive interest rates
  • con-icon Flexible terms
  • con-icon Low APYs on some term lengths
  • con-icon Early withdrawal penalties

Account types

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  • 6-Month APY 4.25%
  • 9-Month APY 4.25%
  • 1-Year APY 5.10%
  • 18-Month APY 4.45%
  • 2-Year APY 4.00%
  • 30-Month APY 4.10%
  • 3-Year APY 4.00%
  • 4-Year APY 3.95%
  • 5-Year APY 3.90%

Capital One Certificate of Deposit Terms & Requirements

  • Rate Information and Interest: Fixed interest rate until maturity; any withdrawal reduces earnings; check for current rates at renewal.
  • Rate Lock Guarantee: Fund CD within 10 days of application date for the highest interest rate during that time.
  • Compounding and Crediting: Interest is compounded and credited monthly.
  • Withdrawals: No partial withdrawals during the term; full account withdrawal allowed at maturity and during grace period.
  • Payment of Interest: Interest payments may vary (up to 12%) depending on days in the month; choose interest disbursement option within 20 days of account opening or maturity.
  • Balance Computation Method: Daily balance method used to calculate interest.
  • Accrual of Interest on Deposits: Interest starts accruing on the next business day for non-cash deposits and the same day for cash deposits.
  • Deposits: No additional deposits allowed during the term, except for credited interest.
  • Early Withdrawal Penalty: Penalty for early redemption varies: 3 months interest for CDs up to 12 months, and 6 months interest for CDs over 12 months.
  • Renewal Policy: Account automatically renews at maturity unless a different preference is indicated.

Grace Period: CD can be redeemed within 10 calendar days after maturity without penalty.

Qualification Requirements

To qualify for opening a CD account at Capital One Bank, you typically need the following:

  • Minimum Age: You must be of legal age in your state or jurisdiction to enter into a financial contract (usually 18 years old or older).
  • Funds for Deposit: You will need the initial deposit amount required for the specific CD term you choose. 
  • Personal Information: You’ll be required to provide personal information, including your full name, date of birth, Social Security Number (or Tax Identification Number), and contact details.
  • Identification: You’ll need a valid government-issued identification, such as a driver’s license or passport.
  • Bank Account: You may need an existing bank account to fund your CD account. Some banks might allow you to fund the CD using a check or electronic transfer from an external account.
  • Application Process: Capital One may require you to complete an application form, either online or in person at a branch location.

Withdrawal Penalty

Early withdrawal penalties apply under the following conditions:

Deposit Term Amount of Interest
12 months or less 3 months’ interest
12 months or more 6 months’ interest

 

State Availability

- Available in all states

mattlevy
Written by Matthew Levy

Matthew is a freelance financial copywriter with 14+ years in financial services. He holds a Bachelor of Science degree in Economics with business and finance options and is a CFA Charterholder. He is from Vancouver, Canada, but writes from all over the world.

faq-icon

FAQ’s

Can I set up a Capital One account online?

Yes, Capital One offers an online application process for many of its banking products, which allow you to set up accounts without making an in-person visit to a branch.

Is there a mobile app for managing my account?

Yes, Capital One has a user-friendly mobile app to assist in managing your accounts, including bill payments, and even depositing checks with your smartphone.

Are there fees associated with a Capital One 360 Checking account?

Capital One 360 Checking accounts aim to be fee-free, meaning no monthly charges. However, check the bank’s official terms for any fees or changes.

How many cds can you have with Capital One?

You can have up to 50 Capital One CDs at once.

Customer Support

After reaching out to Capital One’s customer support, we were pleased with the efficiency. Their live chat and phone support are notably quick, offering responses within a few minutes, while email inquiries aim to get back within a 24 hour window – although our experience received an email back much faster. There is a bot to respond to basic inquiries, but transitioning to a human representative is seamless. Capital One ensures continuity in communication by securing your number for a potential call-back if your call gets dropped or their customer support is busy. And finally, their reputation appears to be quite strong based on plenty of positive client reviews, although with a company this size, there will always be some varied experiences.

Privacy & Security

The company has a huge emphasis on privacy and security. They are recognized for their advanced digital security measures, using protective tools like encryption, fraud alerts, and multi-factor authentication to ensure account safety. Part of the reason is that safeguarding customer information is aligned with keeping up a better reputation, and they assure customers that their personal data will be handled with extreme care. A look at their disclaimers outlines their security protocols and information-sharing policies. They are also a regulated financial entity and thus subject to stringent federal regulations and oversight.

In Conclusion

Capital One is a leader in the financial services sector, with its innovative banking solutions, credit card offerings, and commitment to customer satisfaction. They have demonstrated a forward-thinking approach by embracing technology and catering to the evolving needs of a changing consumer base.

Brand Disclaimer

Capital One does not provide, endorse, nor guarantee any third-party product, service, information, or recommendation available through links from this Web site. The third parties providing products and services available through this Web site are not affiliated with Capital One and are solely responsible for their products, services, information, recommendations, and all other content on their Web sites. Any educational tools, calculators, guides, and other content available on this site are provided by third parties and are for informational purposes only. These materials are not intended to provide legal, investment, or financial advice or to indicate the availability or suitability of any Capital One product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional.
Capital One works hard to offer you products and services that it believes to be useful and reliable; however, Capital One does not provide, endorse, nor guarantee these unaffiliated third-party products, services, or information nor guarantee their accuracy. Capital One is not liable for any third party’s failure with regard to such advertised products, services, and benefits. These advertised products and services are NOT FDIC INSURED NOR BANK GUARANTEED. We encourage you to check individual offers, products, and services to become familiar with any applicable restrictions or conditions.
By responding to offers advertised on this Web site, you may be communicating information about yourself to the company that provides such product or services—for example, that you are a Capital One customer. Please be aware that these third parties may have a different privacy policy than Capital One’s. Their Web sites may also provide less security than Capital One.
NOTICE FOR CALIFORNIA RESIDENTS: Applicants may, after credit approval, use the credit card account up to its credit limit and be liable for amounts extended under the plan to any joint applicant. If you are married, you may apply for credit in your own name.
NOTICE FOR DELAWARE RESIDENTS: Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month.
NOTICE FOR OHIO RESIDENTS: Ohio anti-discrimination laws require creditors to make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on individuals upon request. The Ohio Civil Rights Commission administers these laws.
NOTICE FOR NEW YORK AND VERMONT RESIDENTS: Capital One may obtain at any time your credit reports, for any legitimate purpose associated with the account or the application or request for an account, including but not limited to reviewing, modifying, renewing and collecting on your account. On your request, you will be informed if such a report was ordered. If so, you will be given the name and address of the consumer reporting agency furnishing the report. New York residents may contact the New York State Department of Financial Services by telephone or visit its website for free information on comparative credit card rates, fees and grace periods. New York State Department of Financial Services: 1-877-226-5697 or http://www.dfs.ny.gov.
NOTICE FOR WISCONSIN RESIDENTS: No provision of any marital agreement, unilateral statement, or court order applying to marital property will adversely affect a creditor’s interests unless prior to the time credit is granted, the creditor is furnished with a copy of the agreement, statement or court order, or has actual knowledge of the provision. If you are married, by submitting your credit card application you are confirming that this credit card obligation is being incurred in the interest of your marriage and your family. If the credit card for which you are applying is granted, you will notify the Bank if you have a spouse who needs to receive notification that credit has been extended to you.
Capital One Auto Finance is a division of Capital One, N.A. Capital One Home Loans LLC and Capital One Settlement Services LLC, are wholly-owned subsidiaries of Capital One, N.A.