Capital One 360 Savings Account Interest Rate 2024, Features of the Capital One 360 Performance Savings Account 

Capital One

Capital One is an American finance company that deals with specializations like credit cards, car loans, and banking. started back in 1994 in Virginia. Richard Fairbank and Nigel Morris are the founders of the company.

Being the 12th largest bank in the United States, it holds significant importance. Their branch network consists of approximately 750 locations and 2,000 ATMs.

Credit cards, personal and small business banking, and larger banking are Capital One's three primary business segments.

They profit handsomely on loans, particularly those for credit cards and vehicles. They had disbursed over $75 billion in auto loans and over $100 billion in credit card loans by the end of 2022. That sum of money is absurd!

Capital One 360 Savings Account Interest Rate 2024

Capital One has a savings account called the 360 Performace Savings account, which has a high-interest rate of 4.25%. With this savings account, your money grows faster than at some other banks. There is no need to maintain a minimum balance; there won’t be any monthly fees.

With this account, you can do things like deposit checks using your phone, transfer money electronically to other accounts, and set up automatic transfers to your savings. Another benefit is that one can create multiple savings accounts to save for different things, like emergencies or vacations.

And as of now, there is no limitation on withdrawing money from your account. Capital One's 360 Performance Savings account is a good choice if you want to save money without worrying about fees or minimum balances.

Example:

Let's say you have $1,000 in your Capital One 360 Performance Savings account. The interest rate is 4.25% per year.

The simple calculation is shown below:

Interest = Principal × Rate

Interest = $1,000 × 4.25%

Interest = $1,000 × 0.0425

Interest = $42.50

Features of the Capital One 360 Performance Savings Account 

The Capital One 360 Performance Savings account has some cool features that make it a good choice for people who want to save money.

• High Interest: This savings account offers a higher interest rate compared with some other banks, which helps to grow your money faster.
• No minimum balance: There is no necessity to maintain a minimum balance.
• No monthly fees: There are no maintenance fees or any other monthly fees.
• Easy Access: You can do things like deposit checks using your phone, transfer money to other accounts electronically, and set up automatic transfers to your savings.
• Multiple Savings Accounts: One cool thing is that you can make more than one savings account. 

Capital Savings Account Pros and Cons

The tabular column below represents the pros and cons.