Earn Up to $450 Bonus with New Capital One Savings Account

Earn Up to $450 Bonus with New Capital One Savings Account

Capital One is offering a bonus of up to $450 for new savings account. The bonus is based on how much you deposit into your new account within the first 15 days. For the maximum bonus you need at least $50,000. Let’s look at the details.

The Offer

Earn a $150 bonus when you deposit $20,000 or more, or a $450 bonus when you deposit $50,000 or more, from an external account into your new 360 Performance Savings account within 15 days of opening it.

Here’s how it works:

1. Open a Capital One 360 Performance Savings account from April 27-June 29 using promo code SAVE22.
2. Deposit at least $20,000 (for $150 bonus) or $50,000 (for $450 bonus) of external funds during initial funding within 15 days of opening and hold deposit for at least 90 days.
3. Your bonus will be deposited into your new 360 Performance Savings account by the date stated below:
   

   Account opened the month of	Deposit $20,000 or more of externally-source funds	Bonus will be paid by
   April 2022	Within 15 days of your account opening date	October 12, 2022
   May 2022	Within 15 days of your account opening date	November 12, 2022
   June 2022	Within 15 days of your account opening date	December 12, 2022

You can see the promotion page here.

Key Terms

• 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, 2019, 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.
• A rate of 0.60% Annual Percentage Yield (APY) applies to all account balances.

Conclusion

We have seen similar bonuses in the past from Capital One. This latest offer is for new savings accounts only. The best return for your money is the $450 bonus, but it does require a $50,000 deposit. This deposit must be done all at once during initial funding, and then must keep that balance for 90 days.

That works out to a 3.6% return if you keep the money in the account exactly 90 days. That’s a total of 4.2% since the 360 Performance Savings account already earns 0.60%.

HT: Doctor of Credit

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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