Capital One $300-$1,500 Savings Bonus, Requires $20,000-$100,000 Deposit

Update 5/3/25: Rate now 3.6%

Update 4/4/24: Deal is back, I don’t see any end date. APY is now 4.35% instead of 4.3%

Update 11/29/23: Extended until 1/9/2024.

Offer at a glance

• Maximum bonus amount: $1,500
• Availability: Nationwide
• Direct Deposit required: None
• Additional Requirements: $20,000-$100,000 deposit
• APY: 4.35%APY 4.25% 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: 12/6/2023

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 BONUS1500. 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 $20,000+ and get $300 bonus
  • Deposit $50,000+ and get $750 bonus
  • Deposit $100,000+ and get $1,500 bonus

 

The Fine Print

• STEP 1—Open a 360 Performance Savings account between 12:00 a.m. ET on November 1, 2023, and 11:59 p.m. ET on December 6, 2023. When you open your account, ensure the promo code FALL23 is entered in the Promo Code box.
• STEP 2—Initial Funding Period. Deposit a total of $20,000 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).
• STEP 3—Hold Period. You will earn a bonus once you’ve maintained the Deposit Amount of $20,000 or more for 90 days following the Initial Funding Period. The Initial Funding Period is defined as the first 15 days from account opening, and the 90-day Hold Period does not begin until after the full 15-day Initial Funding Period.
• The amount of your bonus will be determined as follows:
  • $300 bonus—The new money deposited from an external bank during the Initial Funding Period was between $20,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
  • $750 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.
  • $1,500 bonus—The new money deposited from an external bank during the Initial Funding Period was $100,000 or more, 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 $20,000, 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.
• 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, 2021 2022, 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.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

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 4.3% APY, ends up being 10.4% APY over the bonus period once when you take into account the bonus but obviously only lasts for 90 days. Still worth doing for a lot of people and much better than the previous $1,000 bonus and better than other high interest savings rates. We will add this to our list of 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)
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• 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
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