Capital One Offers $1,000 Bonus and 3% APY for Savings Account
Capital One is offering a bonus of up to $1,000 for its 360 Performance Savings account. This account now earns a 3.00% APY which makes it an even better deal for those going for the maximum bonus, which requires a deposit of $100K. Let’s see the details.
Here’s how you can earn this signup bonus:
- Open a 360 Performance Savings account between 12:00 a.m. ET on October 11, 2022, and 11:59 p.m. ET on December 14, 2022. When you open your account, ensure the promo code FALL22 is entered in the Promo Code box.
- Deposit a total of $10,000 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 $10,000 or more for 90 days following the Initial Funding Period. The amount of your bonus will be determined as follows:
- $100 bonus – The new money deposited from an external bank during the Initial Funding Period was between $10,000-$49,999.99, and you maintained that Deposit Amount for 90 days.
- $500 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.
- $1,000 bonus – The new money deposited from an external bank during the Initial Funding Period was more than $100,000, and you maintained that Deposit Amount for 90 days.
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.
- 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 $10,000, 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, 2019, you will be ineligible for the bonus.
- The 360 Performance Savings account has no monthly fees.
The maximum bonus of $1,000 requires a large deposit. But if you have that kind of money, then this bonus is worth doing. You get $1,000 through this offer and your money earns 3% APY while it’s sitting on the 360 Performance Savings account for at least 90 days.
There are also lesser bonuses of $500 and $100 with deposit requirements of $50K and $10K respectively.