March 30, 2024

Capital One Savings Account Bonus

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Looking for a Capital One savings bonus? Read on to see the available promos today and how to qualify for them.

Capital One offers promos for people looking to open a new savings account with them.

You can get a cash bonus while enjoying features like a high APY and no monthly fees. But, there are specific requirements you must meet to qualify.

Continue reading to find out more about it.

What is Capital One Savings?

Capital One 360 Performance Savings is an account that offers an impressive 3.70% APY on any balance. It has no account minimums or monthly maintenance fees, allowing you to fully maximize your earnings.[1]

Additionally, your money is safe because Capital One is FDIC-insured up to $250,000 per depositor, per ownership category.[2]

If you plan to open an account, here's how you can earn a bonus.

How To Earn a Bonus from Capital One

Bonus offers change from time to time, but here's how you typically earn a Capital One savings bonus:

  1. Enter the bonus code upon opening an account.
    Eligible patrons will receive a link to a bonus code (via email), so make sure to use it within the promo period.

  2. Deposit a specific amount in your account.
    Deposit a certain amount of external funds within 15 days of account opening. Then, maintain it for 90 days more after the initial 15 days.

  3. Receive your bonus.
    Capital One usually pays the bonus within 60 days after fulfilling the requirements.

Have you ever received a bonus for opening a savings account?

If you're still on the fence about opening an account, however, here are the upsides and downsides to help you decide.

Pros and Cons of Capital One Savings

Pros

  • Large bank with competitive APY
  • $0 monthly maintenance fees
  • No initial deposit
  • No minimum balance
  • Simple online savings tools
  • User-friendly website and app
  • Access to physical branches

Cons

  • Other banks have higher APY rates
  • No complimentary ATM card
  • Fees for outgoing domestic wire transfers and cashier's checks

If the pros have convinced you, here's how you can get started.

Which Capital One 360 Savings feature would most likely convince you to open an account?

How to Open a Capital One Savings Account

If you're not an existing Capital One customer yet and you want to take advantage of their promos, here's how you can open an account on their website:

  1. Go to the 360 Performance Savings page and click Open Account.
  2. Input your promo code and answer the online application form by providing the necessary information.
  3. Submit your application, create your login details, and fund your account.

How much money are you initially planning to deposit into a Capital One savings account?

You will then receive the bonus within 60 days after meeting all the promotional requirements.

Who Is Capital One Savings Best For?

Capital One 360 Performance Savings suits those who prefer both online and in-person banking.

You get a high APY and the convenience of having your money within reach through their user-friendly website or app. Plus, if the need arises, you have the option to visit one of their locations.

It's a great choice for those who are eager to leverage Capital One bonus offers, especially if you are opening a new account.

In addition to Capital One, many banks offer attractive savings account promotions that you might also find appealing.

Other Bank Offers You May Like

FAQs

Are Capital One promos taxable?
Bonuses obtained from opening a Capital One savings account may be subject to taxes. Capital One considers it as interest or miscellaneous income and will report it to the IRS using Form 1099-INT or 1099-MISC.[3]

Who can take advantage of Capital One bonuses?
New Capital One customers can typically take advantage of welcome bonuses for banking products. But in general, eligibility depends on the type of promotion.

Where to find Capital One bonuses?
Capital One typically sends letters or emails with bonus codes on them. Some promos are also advertised on the Capital One website.

Bottom Line

Capital One gives new 360 Performance Savings account holders chances to earn extra money. Usually, you just have to deposit and keep a specific amount in your account within a certain time to get the bonus.

Since these promos don't stick around for long, be sure to grab the opportunity when you come across one that suits you.

References

  1. ^ Capital One. 360 Performance Savings, Retrieved 12/11/2023
  2. ^ Capital One. Capital One FDIC Coverage, Retrieved 04/01/2024
  3. ^ Capital One. Tax forms from Capital One, Retrieved 01/19/2024
Chase
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 4/16/2025
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 9/11/2025

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.

Bank of America
Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

Expires 5/31/2025
  • The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 05/31/2025.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
  • Bank of America, N.A. Member FDIC.
U.S. Bank
Member FDIC

U.S. Bank Business Essentials - $500 Bonus

Expires 6/30/2025

Promo code Q2AFL25 MUST be used when opening a U.S. Bank Business Essentials, Silver, or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.

Earn your $500 Business Checking bonus by opening a new U.S. Bank Business Essentials or Silver Business Checking account between 4/3/2025 and 6/30/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.

Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.

New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC

CIT Bank
Member FDIC

CIT Bank Platinum Savings - $300 Bonus

  • Transfer a one-time deposit of $50,000+ for a Bonus of $300
  • 4.10% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • No monthly maintenance fee
  • Member FDIC
Terms and Conditions

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Compare:

Have you ever received a bonus for opening a savings account?
Which Capital One 360 Savings feature would most likely convince you to open an account?
How much money are you initially planning to deposit into a Capital One savings account?
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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