Capital One $100-$1,000 Savings Bonus, Requires $10,000-$100,000 Deposit

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: Nationwide
• Direct required: $10,000-$50,000
• APY: 3.4%APY
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: Mixed
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None
• Household limit: None listed
• Expiration date:  5/10/2023

The Offer

Direct link to offer

• Capital One is offering bonus of up to $1,000 when you open a 360 performance savings account with promo code SPRING23. The bonus you receive depends on the amount you deposit within 15 days of account opening and you must maintain that balance for 90 days
  • Deposit $10,000+ and get $100 bonus
  • Deposit $50,000+ and get $500 bonus
  • Deposit $100,000+ and get $1,000 bonus

The Fine Print

• If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary or secondary account holder with Capital One on or after January 1, 2020, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.

   

• Certain deposit transactions initiated through the Capital One website to retrieve funds from your external account are subject to limits. If you are subject to these limits, in order to meet the offer requirements, you would need to initiate the deposit by another external method, such as mobile deposit or setting the initial deposit to send (rather than be retrieved from) from your external financial institution.

   

• Here’s the full scoop on how to earn your bonus:

   

• Open a 360 Performance Savings account between 12:00 a.m. ET on March 22, 2023, and 11:59 p.m. ET on May 10, 2023. When you open your account, ensure the promo code SPRING23 is entered in the Promo Code box.
  Deposit a total of $10,000 or more (Deposit Amount) of new money from externally sourced funds (transfers between Capital One accounts will not qualify) within the first 15 days of account opening (Initial Funding Period). You will earn a bonus once you’ve maintained the Deposit Amount of $10,000 or more for 90 days following the Initial Funding Period. The amount of your bonus will be determined as follows:
  $100 bonus – The new money deposited from an external bank during the Initial Funding Period was between $10,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
  $500 bonus – The new money deposited from an external bank during the Initial Funding Period was between $50,000-$99,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
  $1,000 bonus – The new money deposited from an external bank during the Initial Funding Period was more than $100,000, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
  Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above, including fulfilling the 90-day holding period. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus. If at any time during the 90 days following the Initial Funding Period your Deposit Amount drops into a lower tier, you will be rewarded that tier’s cash bonus. If your Deposit Amount decreases to an amount less than $10,000, you will not qualify for a cash bonus. This offer cannot be combined with any other 360 Performance Savings account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Performance Savings account. Bonuses are considered interest and will be reported on IRS form 1099-INT.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

There is no early account termination fee

Our Verdict

This account earns 2.25% APY, this is competitive but still not as good as the top rates. The bonus itself you need to keep the funds invested for 90 days, but probably closer to four months when all is said and done. This works out roughly to be an additional 3% APY, bringing it to a total of 5.25%. That makes it worth doing for a lot of people and we will add this to the best savings bonuses.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Post history:

• Update 3/21/23: Deal is back and now earns 3.4% APY. Hat tip to reader Joe M
• Update 10/28/22: Account now earns 3% APY (up from 2.25%).