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On This Page
- At a glance
- Overall
- Capital One bank products
- Bank fees
- Customer experience
- About Capital One
- How Capital One compares to other banks
- Capital One FAQs
- Review methodology
At a glance
4.7
Rating: 4.7 stars out of 5
Bankrate Score
CDs
Rating: 4.5 stars out of 5
Checking
Rating: 4.9 stars out of 5
Savings
Rating: 4.4 stars out of 5
About Bankrate Score
Overview
Capital One is ideal for consumers looking for competitive rates and no monthly fees along with the experience of a full-service bank. It offers access to a wide network of no-fee ATMs and branch locations in select states.
Highlights
- Digital Leader
- High APY
- No Monthly Fees
Compare offers
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Member FDIC
Savings Account
4.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 4.7 stars out of 5
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer:
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.50
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.50%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.60
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 5 stars out of 5
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: No account fees & earn up to $300 w/ direct deposit. Terms apply.
SoFi
Member FDIC
Savings Account Details
4.60
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.60%
Minimum to avoid fees$0
Monthly fees$0
Check writingYes
No account fees & earn up to $300 w/ direct deposit. Terms apply.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.35
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 1/4/2024
$0
Min. balance for APY
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.50
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 1/4/2024
$0
Min. balance for APY
Promoted offer
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.50
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.50%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
5.0
Rating: 5 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.60
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 1/4/2024
$0
Min. balance for APY
Promoted offer: No account fees & earn up to $300 w/ direct deposit. Terms apply.
SoFi
Member FDIC
Savings Account Details
4.60
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.60%
Minimum to avoid fees$0
Monthly fees$0
Check writingYes
No account fees & earn up to $300 w/ direct deposit. Terms apply.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.65
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 1/4/2024
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
4.65
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.55%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.10
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 1/4/2024
$0
Min. balance for APY
Promoted offer
BMO Alto
Member FDIC
Savings Account Details
5.10
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.96%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Overall
Capital One Bank is among the 10 largest U.S. banks by assets. While it offers branches in a handful of states, customers can access accounts online from just about anywhere. The bank offers high rates on its savings and CD accounts, and a free checking account that pays interest. There are no balance minimums or monthly fees, and you won’t need to worry about overdraft fees either.
Capital One was named best big bank and best bank for ATM access as part of the 2024 Bankrate Awards, which recognizes the best financial products available to consumers.
Pros
Capital One offers no-fee access to more than 70,000 ATMs.
You’ll earn competitive rates on savings and CD accounts.
Checking and savings accounts feature no minimum balance requirements.
The mobile app is highly rated by iPhone and Android users.
Cons
Bank branches are limited to just a handful of states.
Capital One no longer offers money market accounts for new customers.
Capital One banking products
4.4
Rating: 4.4 stars out of 5
Bankrate Score
FEATURES
4.35% APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of1/4/2024
$0 minimum deposit to open
Capital One savings overview
Capital One’s 360 Performance Savings account offers a competitive yield and doesn’t have a minimum balance requirement, making it suitable for all savers. Users can set savings goals and automatic savings plans (with funds transferred from a Capital One 360 checking account) for additional budgeting ease.
Pros
The 360 Performance Savings account has no monthly services fees.
The Capital One app allows you to make mobile deposits and set up an automated savings plan.
No minimum balance is required to open or maintain an account.
Cons
The 360 Performance Savings account doesn’t include a debit card or an ATM card.
Higher rates can be found at other online banks.
See how rates for this account have changed over time.Interact with the trend lines to view APY by date.
Capital One
APY
APY
National average APY
How do we get this data?
Capital One savings rates
Date
Capital One
APY
APY
National average APY
12/06/2023 4.35% 0.57% 07/21/2023 4.30% 0.54% 06/23/2023 4.15% 0.49% 06/13/2023 4.10% 0.49% 06/08/2023 4.00% 0.49% 06/01/2023 4.00% 0.49% 05/24/2023 3.90% 0.46% 05/02/2023 3.75% 0.46% 04/04/2023 3.50% 0.42% 02/02/2023 3.40% 0.37%
Current Savings Rate
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min balance for APY
Capital One
Member FDIC
Savings Account Details
4.35
%
APY
$0
Min balance for APY
Offer rate as of1/4/2024
Interest rate4.35%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
It only takes about 5 minutes to open a fee-free account.
Promoted offer: It only takes about 5 minutes to open a fee-free account.
4.5
Rating: 4.5 stars out of 5
Bankrate Score
FEATURES
4.10% – 5.25% APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of1/4/2024
$0 minimum deposit to open
6 months – 5 years
Capital One CD overview
Capital One offers 11 terms of CDs that range from six months to five years. Rates are competitive for a big bank, and no minimum deposit is required.
Early withdrawal penalties vary based on term length. For CDs of one year or less, the early withdrawal penalty is three months of interest, while the penalty for CDs with terms longer than one year is six months of interest.
Pros
No minimum deposit is required to open a CD.
Capital One CDs pay competitive APYs for a big bank.
Cons
Capital One Bank doesn’t offer a no-penalty CD or a rate bump CD. Some of its competitors offer these CDs.
See how rates for this account have changed over time.Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Capital One
APY
APY
National average APY
How do we get this data?
Capital One CD rates
Date
Capital One
APY
APY
National average APY
01/25/2023 4.10% 1.19%
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
CD
5.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 4.9 stars out of 5
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$500
Min. deposit
1yr
Term
Marcus by Goldman Sachs
Member FDIC
Promoted offer:
4.9
Rating: 4.9 stars out of 5
Bankrate Score
Capital One checking overview
The Capital One 360 Checking account is an interest-bearing account. The account is fee-free and offers customers access to mobile deposits and online bill payments. It also offers a free first checkbook with 50 checks.
Capital One no longer charges overdraft or non-sufficient funds (NSF) fees. Customer transactions that would overdraw an account may be declined, or an automatic transfer of funds can take place from a linked savings or money market account. If a customer agrees to it in their account settings, Capital One may consider approving ATM withdrawals and one-time debit card purchases. In such cases, a deposit must be made promptly to cover the overdraft.
Capital One 360 Checking users have access to more than 70,000 fee-free ATMs, including ATMs in the Allpoint and MoneyPass networks.
In addition, mobile app users can utilize Capital One’s Add Cash in Store feature to deposit up to $999 a day up to five times a month at CVS stores through a cashier.
Also, with their early paycheck feature, direct deposit customers may be able to receive paychecks or other funds up to two days early.
Pros
The 360 Checking account earns interest on all balances and requires no minimum balance.
Customers have access to more than 70,000 ATMs in Capital One’s own network, and the Allpoint and MoneyPass networks.
Mobile app users can deposit cash at CVS stores.
Your first order of checks is free.
Cons
Some competitors offer higher rates on interest checking accounts.
Capital One charges $30 for outgoing domestic wire transfers. That’s more than some banks charge for this service.
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Checking Account
0.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 1/4/2024
Rating: 4.9 stars out of 5
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
To open
$0
To avoid fees
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of1/4/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Compare more:Bankrate's best saving account offers
Bank fees
Fee | Charged? | |
---|---|---|
Overdraft fee | None | |
Non-sufficient funds fee | None | |
Account maintenance fees | None | |
Out-of-network ATM fee | None | |
Excessive transaction fee | None |
Find out:Tips to avoid common bank fees
Customer experience
Customer support
Physical presence. Capital One has nearly 300 branches in select states for in-person banking, and it operates around 50 Capital One Cafés, where customers can open accounts, as well as deposit cash and checks. Customers can also access more than 70,000 fee-free ATMs through Capital One's owned-and-operated machines, and the Allpoint and MoneyPass networks. Mobile app users can take advantage of the Add Cash in Store feature to deposit cash at CVS and Walgreens stores through a cashier.
Customer service hours. Deposit account holders can reach out to representatives over the phone daily from 8 a.m. to 11 p.m. ET. Automated services, including Capital One’s digital assistant Eno, are available 24/7.
High customer satisfaction. Capital One scored highly in overall customer satisfaction among online-only banks for its checking product, according to J.D. Power’s 2023 Direct Banking Satisfaction Study. Though satisfaction for its savings product was below average.
Digital experience
Highly rated mobile app. Capital One’s mobile app, which has been reviewed by more than 9 million users, earned high marks on the Android and iOS app stores. The bank was the first in the U.S. to launch a skill for Amazon’s Alexa so that customers can voice commands to search for information, such as bank account balances. All this noted, a Bankrate staff member with a Capital One account commented that the app lacked useful breakdowns of spending and saving patterns; instead, there’s just a very basic money in, money out module.
Digital assistant. Capital One has a digital assistant called Eno, which you can interact with on the app or over text. Eno can be used to check your balance, recent transactions, available credit and payment dates. It can also be used to activate, lock or replace a card and even pay bills. “Eno is very easy to use and I found it helpful when trying to find information on how to set up Apple Pay,” said a Bankrate staff member with a Capital One account. “Although when I asked it to explain how early direct deposit works, it couldn’t come up with an answer.”
Complaints
Data breach fine. The Office of the Comptroller of the Currency, a U.S. bank regulator, ordered Capital One to pay an $80 million fine because the bank failed to ”establish effective risk assessment processes prior to migrating significant information technology operations to the public cloud environment.” Moreover, the bank failed to correct these deficiencies in a timely manner, resulting in a massive data breach of their customer’s information in 2019.
Bankrate staff insight
“With Capital One, I can get a solid APY on a checking account that exceeds what most of the big banks are offering on their savings accounts — so that’s a big differentiator,” says a Bankrate staff member who uses a Capital One account personally. “At the same time, knowing that I could get to a branch if necessary gives Capital One a big edge against the top online competitors who lack a physical presence. However, the branch network is on the thin side, so that’s one area that I can note that gives other big banks an edge for convenient access to in-person services.”
About Capital One
The banking unit of Capital One Financial Corp. offers checking and savings accounts, as well as CDs. Richard Fairbank and Nigel Morris started building Capital One (then as a unit of Signet Bank) in 1988. In 1994, Capital One spun off under its name, offering credit cards. In 2012, Capital One acquired ING Direct and rebranded the lender as Capital One 360.
Capital One is ideal for consumers looking for competitive yields, a highly rated banking app and access to a wide network of no-fee ATMs.
Capital One operates almost 300 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.
Learn more:Capital One CD rates
How does Capital One compare to other banks?
Capital One vs. Chase Bank
Capital One and Chase are both big banks that maintain some branches and also offer options for digital account management. While Capital One offers nearly 300 branches in a handful of states, Chase operates more than 4,700 branches, with locations in nearly every state.
When it comes to rates, Capital One’s 360 Performance Savings Account pays an APY that’s more than 400 times greater than the rock-bottom yield of the Chase Savings account. Likewise, Capital One’s CD rates are higher than those of Chase, including the higher relationship CD rates Chase offers to customers who also have a Chase checking account.
As far as checking accounts, Capital One’s 360 Checking account earns interest, whereas Chase’s Total Checking account is non-interest bearing. Capital One doesn’t charge for overdrafts, while Chase may charge up to three such fees each day. Neither bank charges a non-sufficient funds fee.
Learn more:The best banks of 2024
Capital One FAQs
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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