bank rates

Abandon Ship On Capital One’s CD Rates

You'll find above-average rates on the 36- and 60-month CDs only.When you check out Capital One Bank’s CD rates, it’s easy to see why they’ve never been the focus of any of this big bank’s cool ad campaigns.

What self-respecting Viking would hawk 12-month CDs paying just 0.30% APY?

The average annual yield large banks and thrifts are offering for that term is 0.44%.

That’s a record low for that term.

McLean, Va.-based Capital One (www.capitalone.com), which has 1,000 branches in Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C., should consider sticking to credit cards.

The only Capital One CDs you’ll find with above average rates are the 36- and 60-month CDs.

The 60-month CD is 1.75% APY versus an average rate of 1.63%.

But at 1.01% APY, the 36-month CD barely beats the average rate of 0.98% APY.

The two remaining standard-term rates are below average:

  • 6-month CD rate is 0.25% APY versus an average rate of 0.26% APY.
  • 24-month CD rate is 0.65% APY versus an average rate of 0.66% APY.

All of these rates require a $5,000 minimum deposit.

It should go without saying that you’ll find better rates for every term on our CD Rates Leaderboard.

Not that we’re about to give any of those Vikings a job.

There are definitely better deals out there, and you’ll find them if you compare Capital One’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (2)
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2 Existing Comments
  1. cnm said:
    on July 6th at 10:32 am

    Capital One is a bunch of freaks. I am permanently banned from owning a Capital One credit card, because I gave them a particularly hard time about re-opening an old account without my permission, involving the state of VA and a cease and desist order. Any application I make for a card from now on will be denied without even checking my credit score (it’s over 800).

  2. Kathy at Bankaholic said:
    on July 25th at 10:20 am

    These rates are all still being offered as of today.