Capital One 360 Savings Promo – Earn Up to a $500 Bonus

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Capital One 360 Savings has a limited-time sign-up bonus for up to $500 for new customers, tiered depending on your opening deposit. Here’s a quick recap of the features of 360 Savings accounts:

  • No monthly fees or minimum balance requirements.
  • No minimum deposit required to open an account.
  • Free electronic fund transfers to a linked checking account.
  • 24/7 online and mobile access, or talk to a real person 7 days a week 8AM-8PM.
  • % APY as of 2/10/16

Bonus instructions.

  1. You must open your first 360 Savings Account by the promotion expiration date, 11/30/2015 at 11:59 PM EST. (If you’ve had a Savings product with Capital One 360 or ING DIRECT before, you won’t be eligible for the bonus.)
  2. To qualify for a bonus, your account must be funded within the first 10 days of account opening. Deposits from an existing Capital One 360 account will not qualify for the bonus.
  3. The amount of your bonus will be determined based on the highest amount you deposit within the first 10 days of account opening and maintaining that balance on a daily basis for the next 90 days following the 10 day period. You must deposit a minimum of $5,000 and maintain a daily balance of $5,000 for 90 days after the initial 10 day period to qualify for any bonus. The amount of the bonus you actually earn will be determined based on the following balance tiers during the initial 10 day period and the 90 day period after that: $5,000+ earns a $50 bonus, $10,000+ earns a $100 bonus; $20,000+ earns a $200 bonus; $30,000+ earns a $300 bonus; $40,000+ earns a $400 bonus; and $50,000+ or more earns a $500 bonus. The maximum bonus you can earn is $500.

Essentially, if you deposit an amount exactly on the tier level, you will earn 1% of your deposit (i.e. $50 on $5,000 or $500 on $50,000) with a minimum holding period of 90 days following the 10-day deposit window. This is in addition to the existing interest rate.

For more details on the account interface and such, please check out my 360 Savings account review.

Disclosure: I will receive a referral if you open an account via one of the links above, as a paid endorsement. To my knowledge, this is also the best publicly-available 360 Savings bonus offer out there. I won’t be participating myself because I’ve had an account (ING Direct) since 2005. Please refer to my full advertising disclosure.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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Comments

  1. This bonus is taxable, correct?

    • It typically is and will show up on your 1099-INT form. Every year or two I get a $300 bonus for me and $300 for my wife for opening a Chase checking account. Always get a 1099-INT form from Chase.

  2. I was blacklisted a few years ago from ING Direct for opening up an account for my mother, who wanted to participate in getting a bonus but doesn’t like talking on the phone with customer service reps b.c English isn’t her first language. Since I misrepresented myself as my mother on the phone, they banned both of us from ever opening an ING account (we’re rebellious like that!). Do you think that kind of thing would carry over to 360 Savings?

  3. I opened an ING Direct account years ago, but I have since closed it. Is
    it possible to qualify for the bonus if I have not had an ING Direct savings account for 5 years or more? Thanks for the clarification!

  4. I bit, $500 for moving money around is too good to pass.

    • I’m really tempted, too. I just opened a Wells Fargo PMA checking last month to get that bonus and just yesterday and got a postcard in the mail from a local bank offering a $350 bonus to open a checking account with them with really low balance requirements (only really requires a direct deposit). I may do this one in July. Seems like the banks are really competing for deposits right now.

  5. I had an ING Direct account back in the day when it was a competitive online savings account. After being taken over by Capital One, it began to slip down the ladder. I finally gave up on them late last year and moved all my accounts (except the checking which I haven’t used yet!) to another more competitive online savings bank. In a day of already low interest rates, .75% doesn’t cut it when you can get 1.00% with a little effort. Yes, the transfer bonus effectively gives you 1.75 this year, but after that you are stuck with a non-competitive rate.
    Of course if you had an account with them, you aren’t eligible for this offer anyway.
    Just my .02,

  6. Anybody know if I would get the bonus for opening an account for my child with my name on it? I am an existing customer, and want to open a savings account for my infant daughter.

  7. My $500 bonus posted yesterday.

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