Capital One Bonus for Savings Account
Capital One is offering a bonus of up to $1,500 for its 360 Performance Savings account. This account now earns a 4.35% APY which makes it a good deal for three months. Let’s see the details.
The Offer
Here’s how you can earn this signup bonus:
- Open a 360 Performance Savings account using promo code BONUS1500.
- 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).
- 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. Bonuses are considered interest and will be reported on IRS form 1099-INT.
Key Terms
- This offer cannot be combined with any other 360 Performance Savings account opening offers. Only one promotional code is accepted.
- Bonus is only valid for one new 360 Performance Savings account.
- 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.
- 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, you will be ineligible for the bonus.
- The 360 Performance Savings account has no monthly fees.
- No expiration date.
Conclusion
The maximum bonus of $1,500 requires a large deposit. But if you have that kind of money available to move over to Capital One, then this bonus is worth doing. You get $1,500 through this offer and you earn 4.35% APY.
There are also lesser bonuses of $500 and $300 with deposit requirements of $50K and $20K respectively.
HT: Doctor of Credit
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In one spot it says the bonus for $50k is $500 and in another it says the bonus is $750. The lower bonus is also listed as $300 and $100 in your article. I hope it’s actually the higher amounts!