Capital One savings account and CD rates: How do they compare?

June 9, 2023 ndowd

Capital One is an online bank known for offering competitive interest rates on deposit accounts, including savings and CDs. The bank doesn’t require a minimum opening deposit or balance in order to get these rates, and accounts don’t have any maintenance fees.

Capital One savings rates vs. the national average

Capital One offers some of the best high-yield savings rates on the market thanks to its low overhead costs. Its online savings account pays 10 times the national average, which was just 0.40% as of May 15, 2023, according to the FDIC.

Capital One’s savings rates compared to current top rates

Though Capital One offers some of the highest savings account yields in the country right now, there are a few banks that beat its rates. Our top five high-yield savings accounts winners (as of June 8, 2023) include the following banks:

Capital One CD rates vs. the national average

Capital One also offers certificates of deposit in varying term lengths with competitive rates far above the national average. In fact, Capital One’s CDs ranks among the best available rates today, with its 360 CDs ranging from 6 months to five years.

Term length	APY	National average APY
6 months	3.90%	1.19%
9 months	3.90%	—
12 months	4.75%	1.59%
18 months	4.75%	—
24 months	4.30%	1.45%
30 months	4.30%	—
36 months	4.30%	1.36%
48 months	4.20%	1.30%
60 months	4.10%	1.37%

Capital One’s CD rates compared to current top rates

Despite these competitive rates, several banks outrank Capital One when it comes to CD interest rates. See how some of our best CD rates winners compare, based on rates as of June 8, 2023.