Capital One Market Rates
Today, we’re going to diverge a little from our usual subject here at <a href=”http://moneymarketrates101.com“>Money Market Rates 101</a> and look at a different bank, Capital One.
Richmond, VA-based Capital One Financial Corp. is a premier financial institution in the Mid-Atlantic region of the United States. The company has fared better over the years despite the fact that banking sector is still in a financial quagmire. The company offers many direct banking features including its basic online account. Mortgage, loans and other features are also offered by the company.
Under this account, customers are offered an APY of 1.60% for an investment of $2,500. There is also a chance of winning 10% quarterly bonuses on interest earned if the average balance exceeds or equals $15,000
Apart from basic accounts, Capital One money market also has other options for its customers. A high yield market account offers an APY of 1.20% with general banking features included in the package. Customers can use free checks, ATMs and online transfers, among other services.
Capital One interest rates are higher than market average and sometimes as high as three times the national average. The lowest interest rates are accrued on the company’s Business Money and Business Money market accounts; they are 1.10% APY and 1.01% APY, respectively. These rates are subject to change in case of market fluctuations and other factors.
Certificates of Deposit, on the other hand, yield 3.00% APY for a 4-year term. The bank would pay 2.00% APY on a 2-year term certificate. No monthly fees are charged on these accounts. An average interest rate on these CDs would be 0.5% for 1-year term with the APY in the same range.