Capital One 360 Performance Savings Deposit Bonus (Up to $1,000)

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Update: Readers have reported that they were not able to apply the promo code even as new customers, and Capital One responded that this was a targeted promotion even though there is no such language on the offer page nor in the terms and conditions. I would make sure that the promo code “FALL22” was accepted before moving forward with this promo.

Capital One has brought back a deposit promotion worth up to $1,000 for new 360 Performance Savings accountholders. Note the following:

If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary or secondary account holder with Capital One on or after January 1, 2019, you will be ineligible for the bonus.

Here are the details:

  • Open a new 360 Performance Savings account with promo code FALL22 by 12/14/2022.
  • Make a deposit of $10,000+ of external funds within 15 days of opening. Hold the money in your account for 90 days.
  • $10,000+ deposited = $100 bonus.
  • $50,000+ deposited = $500 bonus.
  • $100,000+ deposited = $1,000 bonus.
  • Capital One will deposit the bonus into your account within 60 days following the 90-day period. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus.
  • You’ll also earn their normal interest rate (currently 3.00% APY as of 10/30/22). No monthly fees or minimum balance requirements.

Note that the 90-day “maintain balance” period is after and in addition to the end of the 15-day “initial funding period”. So if you are counting from the opening day, that is a total of 105 days after opening. You may wish to chat with Capital One to confirm the exact date.

In terms of APY, you are getting 1% of your deposit with a minimum holding period of 90 days. (You’ll probably go over by a few days.) This works out to the equivalent of (a little less than) a 4% annualized yield. If you assume the current 3% APY holds, that would be an estimated 3% + 4% = 7% annualized yield for those 90 days.

Not a bad deposit bonus on top of a currently competitive base interest rate. This one is only for new customers or those that have closed their previous CapOne360 accounts by January 1, 2019.

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  1. Thanks for the tip. I’ve had a 360 Savings account for years (coming from ING Direct) and didn’t realize that 360 Performance even existed. Unfortunately the 360 Savings accounts disqualify me so I’m closing them today in the hope of qualifying as a “new” customer in the future. The 360 Savings only earn 0.3%, and it’s a little disappointing they wouldn’t encourage an upgrade to a higher interest rate.

    • I just woke up to the fact that my Cap One 360 savings account is only paying 0.8% interest – they never switched me to the Cap One 360 Performance Account that appears to have replaced the Cap One 360 as the latter version no longer appears on their website. That was probably back in 2019. Never notified that there was the new version. My account was $52,000-94,000 in that time period. In my view they cheated me out of well over $1,000 in that time period. I just closed it out and will put it elsewhere.

  2. Stuart J Weissman says

    I had no issue Jonathon. If there is a referral bonus, I just transferred 100K.

  3. Mike Kirkpatrick says

    Do your funds have to stay in the account after the 90 days or 105 as you said, or can I transfer them out after the time needed to hit the bonus before the bonus hits the account?

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