You’ll need two forms of identification, like your driver’s license, passport, Social Security card or birth certificate, plus proof of residence (which could be your driver’s license if the address on it is where you live now). Whether you’re already a Capital One customer or not, you can use the app or the Capital One website to apply in as little as five minutes. You can use your phone, tablet or computer to open any Capital One 360 account. How do you open a Capital One 360 performance savings account?
One rationale: you want your checking account and savings account to be linked. Nevertheless, Capital One banking customers may choose to forgo higher rates at other banks. Here’s an example of different deposit amounts earning 4.30% APY over a few years.Ĥ.81% APY (on balances of $1,000 or more) Exactly how much you can earn will depend on the deposit size and how long you keep it there. Capital One’s APY compounds, and is credited, monthly. The longer you keep your money in a savings account, the more it can grow thanks to the power of compound interest. Learn more: Best no-fee savings accounts.
The interest your account earns will always begin on the business day after you make a deposit for non-cash transfers, whereas cash deposits start on the day of deposit. Fees that could apply include:īecause this is a savings account, not a checking account, there are some limits, such as no overdrafts and a limit on monthly transaction limits. There aren’t any monthly maintenance fees to budget for and very few fees overall that could drag your savings down. You don’t need a minimum deposit to open or keep this type of account at Capital One. Overview of Capital One 360 performance savings account Capital One 360 Performance Savings Account interest rates
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