A savings account earning a mere 0.01% APY-which is not uncommon-would earn just $1 over a decade. You’ll earn quite a bit more in interest over a 10-year period with a Capital One 360 Performance Savings Account compared to an account at many other big banks. Plug in your initial deposit, monthly contribution and the 4.30% APY to see how much you could earn over a specific number of months or years. Use the below calculator to see how money much you stand to earn. How Much Can You Earn?īefore opening a savings account, you’ll want to know how much interest you could earn over time. But if you do have checking and savings, you can link them together for easy and even automated savings transfers to help build your balance.Ĭapital One encourages savers to open multiple 360 Performance Savings Accounts, for different financial goals. You’re not required to have a Capital One checking account to open a Performance Savings Account. ![]() You will pay $30 for outgoing wire transfers, and there’s a $10 fee if you purchase a cashier’s check using your savings account balance. Capital One uses a daily balance method to calculate interest. Interest is compounded and credited on a monthly basis. ![]() That means you still get the same relatively high rate whether you save a little or save a lot in your account. While some banks have tiered savings rates, based on your balance, Capital One applies the same 4.30% APY to all balances. No minimum deposit is needed to open an account. The account can be opened online, through the Capital One mobile app, or at a Capital One branch or cafe. The Capital One 360 Performance Savings Account is considered a high-yield savings account because of its attractive rates. Though it operates hundreds of brick-and-mortar branches and cafes, Capital One’s savings rates are comparable to the higher rates paid by online-only banks. Overview of Capital One Savings Interest Rates
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