Capital One Bank Savings Account

Capital One Direct Banking, the online banking arm of the credit card company Capital One, is offering their Internet Plus Online Savings Account that currently has a savings account rate of 1.44 percent with an APY of 1.45 percent. To earn the 1.44 percent savings rate you must have a savings account balance of $2,500 or more.

Capital One Direct Banking is also offering a 10 percent savings account bonus on the savings interest the account earns. So if you earn $1000 in savings account interest for a quarter they'll tack on another $100, which makes the savings bonus a good deal.

To receive the savings bonus you must also either maintain an average monthly balance of at least $15,000 in the account every month during the previous quarter, or, you must be an owner of an active Capital One Credit Card in good standing (not restricted, not over limit, not past due), with at least one transaction per calendar month.

The savings account bonus is paid into your InterestPlus Online Savings account within 4-8 weeks after the end of each quarter.

The bank also has a High Yield Money Market account with a current APY of 1.15%, a Rewards Money Market account with an APY of 1.10 percent, a Business Money Market account with an APY of 1.01 percent.  

Capital One Direct Banking Savings Account: Internet Plus Online Savings Account
Author: Lisa Graham
February 22nd, 2010
Posted in: Savings Accounts