Are Capital One CDs providing the Best interest rates, or are they just another banking service offered by Capital One?

Capital One CD features

With Capital One Certificates of Deposit, you will not pay any fees, monthly or otherwise, unless you decide to take your money out before maturity. Capital One Bank requires a $5000 deposit to open your cd, or $100K for a jumbo cd. Capital One Bank says you may not make a withdrawal on these cds; however, they also give you the penalty for taking some money out. Once you fund your CD, your cd interest rates are locked. Interest accrues daily and can be paid monthly, quarterly, semi-annually or annually as you, as cd account holder, decide. If you don’t make that decision, they will pay your accrued interest quarterly (unless the term is less than 6 months, then they will pay it monthly).

Capital One Bank interest rates and fees

The best interest rates Capital One Bank offers get better in the longer terms. You can open a cd with terms from 6 months all the way to 10 years. The shorter term cds have interest rates that are better than Bank of America, and yet still shy of the national average. The longer terms get the highest interest rates and by the time Capital One Bank gets to the 5 year cd, the APY rate at 1.75% beats the national average at 1.68% APY. Of course, the highest interest rates in the nation, (like Ally and Discover Bank) are already above 2.00%.

Summary of Capital One Bank CDs

Capital One Bank seems to be following the industry leaders with very minimal fees and a good package of features. The website is easily navigated and live help is just a click away. The only drawback would be the interest rates are on the low side of average, and you, as savvy investor, want to get the best interest rates. Visit our homepage to see reviews of the best banks. You can even see some video review, or get into the nitty-gritty on those banks in our best rates CD posts