The interest rate of your savings account can go up or down due to several factors related to the current state of the economy. You can find more information about what contributes to a changing interest rate in this article.
But regardless of high or low interest rates, your Capital One savings account offers many other important benefits:
No fees or Minimums
All Capital One savings accounts that have ‘360’ in the name don’t charge monthly fees or require minimum balances. That means more of your money stays yours, and you aren’t charged for keeping it in the bank.
FDIC Insurance
Capital One savings accounts provide FDIC insurance up to the allowable limits which protects your money in the unlikely event of bank failure. You can rest assured that your money is in a safe place.
High-Yield Savings
Capital One’s 360 Performance Savings account is a high-yield savings account with one of the nation's best rates. Even when rates are low, your 360 Performance Savings interest rate is competitive with other high-yield savings accounts.
Automatic Savings Plan
Capital One savings accounts can help you save money without needing to keep it top of mind with automatic savings plan options. That means money is automatically deposited to your savings account from one of your other bank accounts, like your checking account, at a frequency you pick. After you set up how much and how often you want to move money to your savings account, the automatic savings plan does it for you.
Interest rates will always fluctuate based on the Fed and the economy, but your Capital One savings account is here to help you save.
Learn more about how to save for an emergency fund or check out these tips for boosting your savings.