Capital One Saving account promo

Capital One 360 High Yield Savings Account Review 2015

CapitalOne360 Savings Account Review

Capital One 360, formerly known as ING Direct, is an online bank that offers great rates and services to its members. The following is a list of important and convenient features that detail how Capital One 360 is an appealing choice to start an online savings account:

High Interest – Capital One 360 savings accounts enjoy a % APY annual percentage yield while the rest of the financial industry offers savings account APYs at around 0.10%. As an example, utilizing the above numbers, with a deposit of $10,000 for one year you would earn $75 interest with Capital One 360 instead of the $10 you would likely expect with more common interest rates at other banks.

No Fees – It is common for financial institutions to impose maintenance fees for their savings accounts. Capital One 360 offers their services at absolutely no charge.

No Minimums – Minimum account balances are also standard and typically require $25 or more in order to maintain the account, not allowing you to access all funds in your account. Once again, Capital One 360 separates itself from the industry by allowing you to create a savings account with a $0 balance, assuring you access to all of your money at all times.

No Changing Banks – Regardless of whether or not you use Capital One 360 for your checking account needs, you can electronically link to any other bank account so you can enjoy free and easy transfers. This ability to link is limited to a total of three external checking accounts. Account types that are restricted from completing electronic transfers, like brokerage and money market, are not permitted. The linking process is simple, taking just a few days, during which you verify small deposit amounts made to the linked account.

FDIC Insured – All of your deposits are FDIC-insured up to $250,000.

Quick Application – You can complete the online application and start using the account in under five minutes.

ShareBuilder Link – If you have a ShareBuilder online brokerage account (Sharebuilder Review) you can create an instant link to your Capital One 360 checking and/or savings, allowing you to instantly send and receive money between all accounts.

Related articles:  BOA savings review,   Charles Schwab savings account review,   Emmigrant Direct savings account review

Paperless – As an online-only bank you can expect online-only bank and tax statements, enabling you to print off, or electronically store any account document at your convenience.

Automatic Savings Plan – You can create an automatic savings plan that you can change, stop or start at any time. All you have to do is set the frequency, enter the appropriate account information, and start saving.

My Savings Goals – This is our favorite feature, because it helps provide visual motivation while striving towards your savings goals. It is easy to set up: you just go through a few quick questions, starting with telling the bank what you are saving for. You have the ability to name the goal anything you want, allowing you to completely customize your plan; it can be named anything from rainy day fund to vacation plans, house, wedding, whatever you want! Most importantly, you enter what the target dollar amount is, and then as you add money to the account you can track your progress with a handy status bar. Whenever you want to check the progress of your savings goal, you just click on the “My Savings Goals” tab inside your account, and it pulls up a master summary of your goal. The summary includes how long until your goal is due (based off the projected completion date you entered) displayed in years, months, and days. It also graphically depicts a percentage bar to visually display the progress you have made towards reaching your goal. Another great feature is once you complete a savings goal, it gets filed away so you can later reference it to see how far you have come in your overall savings journey.

Somehow, Capital One 360 has been able to make a somewhat boring subject, like saving money, a fun and exciting activity, making savings accounts easy to use and manage. Their almost overly-simplistic menu makes their website incredibly easy to navigate, giving you access to any aspect of your account in seconds, putting you in charge of the decisions that impact your financial future.

CapitalOne360 Savings Account Promotion

High Yield savings from Capital One 360. No fees, no minimums, and no need to change banks.

CapitalOne360 Other Accounts Promotions

This article was updated on 3/11/2015.

Please share us with your friends

Related articles

Online broker promotions:
Copyright ©2009-2015 All rights are reserved.
The stock brokerage firm you select is solely responsible for its services to you, the user. shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of a brokerage house's services. has partner relationships with other companies. As a partner, we often provide reviews of products and services based on our personal opinions. We are not compensated for positive reviews. While we strive to make sure that the information we present here is true and accurate upon publication, the rates and offers that we share with you may change without notice, so please visit the sites we reference for more up to date information.