Capital One 360 Savings® Review

Capital One 360 Savings® is straight out of the Capital One playbook, which focuses on simplicity, good perks, and low fees. Specifically, Capital One 360 Savings® offers a competitive annual percentage yield (APY), nixes routine account fees, and packs in the conveniences only available from a major national bank. These are the main reasons we picked it as one of the top online savings accounts (check out our full list of the best high-yield savings accounts to uncover the rest).

Let’s dive in deeper so you can see if Capital One 360 Savings® can help you reach your savings goals.

Bank NameAPYMin. Opening DepositKey Features
Capital One 360 Savings®

APPLY NOW

1.00%$0-$0 monthly maintenance fee

-Mobile app and deposit

What we like about Capital One 360 Savings®

  • $0 minimum deposit — There is no minimum deposit requirement to open an account or earn the account’s variable APY.
  • $0 monthly maintenance fee — The cost of maintaining an account can be brought down to $0 for routine savings account needs.
  • Mobile app — A mobile app is a must-have for an online high-yield savings account. Capital One’s highly rated mobile app may be most useful for savers taking advantage of free electronic transfers and mobile check deposits.

What could be improved for Capital One 360 Savings®

  • APY — Many competing online savings accounts offer an APY above 1.00%, in addition to low fees. Bumping up the APY would give Capital One 360 Savings® more value.
  • Cash bonus — People looking for a new-member bonus may find this account lacking. If an up-front bonus is important, see the following comparison table for a few of our favorite offer.

How to fund a Capital One 360 Savings® account

Account holders can fund their accounts with free electronic transfers from an external account, from an existing Capital One account, through free incoming wire, and with mobile check deposit.

How to withdraw funds

Funds are available for withdrawal through electronic transfer to an external account, transfer to an existing Capital One account, and outgoing wire (for a $30 fee).

Other high-yield savings accounts to consider

Capital One 360 Savings® has some clear advantages, but it may not be a perfect match for all savers. We’d suggest visiting our Banking Center to compare hundreds of high-yield savings accounts and also reviewing a few other options we picked as top-tier selections, especially if a higher yield and/or cash bonus are important to you.

FeatureCapital One 360 Savings®Discover SavingsCIT Bank Premier High Yield Savings
APY1.00%1.40%1.55%
Min. opening deposit$0$0

(Deposit requirements must be met to use offer code)

$100
Bonus$0Up to $200 using code FOOL1217 with qualifying deposit*$0
Monthly maintenance fee$0No monthly maintenance fees$0
Withdrawal limit fee$0$15$0
ATM cardNoNoNo
Free ATMsN/AN/AN/A
Mobile appYesYesYes
Mobile depositYesYesYes
Next stepsAPPLY NOWAPPLY NOWAPPLY NOW
Bank reviewDiscover Savings full reviewCIT Bank Premier Savings full review

*TO GET YOUR BONUS: APPLY FOR YOUR FIRST DISCOVER ONLINE SAVINGS ACCOUNT BY 2/28/18. ENTER OFFER CODE FOOL1217 WHEN APPLYING. DEPOSIT A TOTAL OF AT LEAST $15,000 INTO YOUR ACCOUNT BY 3/14/18 TO EARN A $150 BONUS OR DEPOSIT A TOTAL OF AT LEAST $25,000 INTO YOUR ACCOUNT BY 3/14/18 TO EARN A $200 BONUS. MAXIMUM BONUS ELIGIBILITY IS $200 PER ACCOUNT.
WHAT TO KNOW: OFFER NOT VALID FOR EXISTING OR PRIOR DISCOVER SAVINGS CUSTOMERS. ACCOUNT MUST BE OPEN WHEN BONUS IS CREDITED. BONUS WILL BE CREDITED TO THE ACCOUNT BY 3/28/18. BONUS IS CONSIDERED INTEREST AND WILL BE REPORTED ON IRS FORM 1099-INT. OFFER MAY BE MODIFIED/WITHDRAWN WITHOUT NOTICE.

Final take

We think Capital One 360 Savings® is a clear leader for existing Capital One members or people who want to establish their relationship with the bank to consolidate their finances in one place. Capital One 360 Saving®’s APY is higher than that of most brick-and-mortar banks, and its low fees ensure that account holders keep most of those interest earnings. But if a market-leading APY or a cash bonus are most important, you may want to look elsewhere.