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Review: Capital One 360 CD Rates

Capital One 360 logoCapital One 360’s fun tagline, “Forget MP3s, CDs still rock,” is cute and catchy.

Unfortunately, the CD rates for this new institution born out of the demise of ING Direct aren’t really the “music to saver’s ears” they’re touted as.

However, all but one of its standard term rates are above average.

For a big bank these days, that’s saying something.

But music? That’s a bit of a stretch.

For at least decent rates, you’ll have to tune into our CD Rates Leaderboard.

Here’s a look at what you’ll find at Capital One 360:

6-month CD rate is 0.40% APY versus an average rate of 0.17% APY. (Leaderboard leader is 0.89% APY.)

12-month CD rate is 0.40% APY versus an average rate of 0.27% APY. (Leaderboard leader is 1.05% APY.)

24-month CD rate is 0.40% APY versus an average rate of 0.43% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate is 0.70% APY versus an average rate of 0.53% APY. (Leaderboard leader is 1.40% APY.)

60-month CD rate is 0.90% APY versus an average rate of 0.87% APY. (Leaderboard leader is 2.05% APY.)

We should note the CD rates are unchanged from what they were when the bank was still called ING Direct.

Capital One 360 doesn’t require a minimum deposit, and you can only buy its certificates of deposit online.

Capital One 360 is a division of Capital One, which purchased ING Direct in June 2011 and announced last November that it was changing the online bank’s name this month.

It has eight Capital One 360 Cafés, which replaced the ING Cafés in Chicago, Honolulu, Los Angeles, New York, Philadelphia, San Francisco, and St. Cloud, Minn., and Wilmington, Del.

Its rates are considerably better than the deals offered by Capital One Bank itself. Those offers are only available to savers in Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.

If you live outside the McLean, Va.-based bank’s service area, you’ll automatically be rerouted to the Capital One 360 website if you try to purchase certificates online.

You can learn more about Capital One 360 at or call 800-464-3473.

Compare Capital One 360’s returns with the best CD rates from scores of other banks in our extensive database.

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