Contents
The Offer
- Capital One is offering a 11 month 5% APY CD with no minimum deposit
Our Verdict
This is better than the recent Chase offer of 4% 3 month CD, but some other basic savings rates are already above 5% APY and have the flexibility of being able to withdraw the funds without penalty. I guess this is a good deal if you know you want to lock the funds for that long and aren’t confident those basic savings rates will continue to rise – although probably an easy pass for most readers given the current market conditions are expecting further rate rises.
5.3% for 10monthCD now
Offer expired 3/14 🙁
I try to open a CD account. Before the final step, I always got an error message – ” Looks like we ran into a technical issue.”… Does anyone have the same issue?
Same issue, tried multiple times, always same technical issue error message . moved on.
Will we begin to accrue on the date of initiated deposit or when it is officially processed? Opened and deposited on 2/6 and I see money was pulled from my external bank but shows $0 in Capital One CD. There is a processing date for 2/13. Would hate to lose interest for a full week!
I see a similar short changing with this 11 month CD in my account. They rob you of about a week of interest.
https://www.capitalone.com/bank/disclosures/cds/online-cds/
Compounding and Crediting: Interest on your account will be compounded and credited on a monthly basis.
Withdrawals: We will not permit partial withdrawals of principal during the term of the account. Withdrawal of the full account balance is permitted at maturity and during the grace period.
Early Withdrawal Penalty: If you redeem a Certificate of Deposit (CD) prior to maturity, you will incur an early withdrawal penalty.
For a CD with a twelve (12) month or shorter term, the penalty is three (3) months interest, regardless of when you redeem the account prior to maturity.
Discover bank has excellent customer service and website but their rate is just a bit behind this as of now
Could not resist that magic 5% number and applied, and though I’ve been a customer for 10+ years they asked me to upload my ID, so now I wait for it to be “processed”. Had the same issue with a savings account application a couple of months ago and had to call 2-3 times just to get it processed. Ugh. Ally and most other CUs/banks open CDs in seconds…
Mine was fully seamless. A couple of clicks, presented with the option to pull funds out of savings, boom, opened. CD account appeared in minutes.
Had all kind of problem with CapOne a few months back, but this went well.
CIBC Agility Savings APY is now 4.01%
no sign-up bonus?
i think I’ll wait for Discover card 500$ sign-up bonus with 50k promotion
And silly me just put a bunch of $ into the Ally 4.6% 13 month CD. Oh well.
Im lock in discover 4.0 12 month CD…
4.6 is good, Im in a 3.75 with CIT and considering taking the penalty, about 4 months in.