A 360 CD is a certificate of deposit offered by Capital One through its online banking platform. It works like any traditional CD: you deposit money for a fixed period, earn a guaranteed interest rate, and agree not to withdraw the funds until the term ends. What sets the 360 CD apart is its combination of no minimum deposit requirement, competitive online rates, and flexible interest payout options.
How a 360 CD Works
When you open a 360 CD, you choose a term length and lock in an annual percentage yield (APY) for that entire term. Your rate won’t change regardless of what happens in the broader market. At the end of the term, the CD matures, and you can withdraw your money, roll it into a new CD, or let it automatically renew.
Capital One does not require a minimum deposit to open or maintain a 360 CD. That’s unusual in the CD market, where many banks require at least $500 or $1,000 to get started. You could technically open one with $50 if you wanted to, though the interest earned on a small balance would be minimal.
Current Rates and Terms
As of April 2026, the 360 CD pays 3.90% APY on a 12-month term and 3.60% APY on a 60-month term. Capital One offers several term lengths between those two endpoints, giving you flexibility to match the CD to a specific savings goal or timeline.
The rate you lock in at opening stays fixed for the life of the CD. If rates drop six months after you open a 12-month CD, you keep your original higher rate. The flip side is also true: if rates rise, you’re stuck with the lower rate unless you’re willing to pay an early withdrawal penalty to break the CD and open a new one.
Interest Payout Options
One feature that distinguishes the 360 CD from many competitors is how you receive your interest. You have three choices:
- Monthly disbursement: Interest is paid on the same calendar day each month, one day before the anniversary of your funding date. This is useful if you want a predictable stream of income.
- Annual disbursement: Interest is paid once a year on the CD’s creation anniversary. This option is only available for terms of 12 months or longer.
- At maturity: All interest is paid out when the CD term ends.
You can have interest deposited into another Capital One 360 account, like a savings or checking account, or transferred to an external bank account you’ve linked. Transfers to external accounts process on the next business day. If you don’t need the interest income right away and want to maximize compounding, leaving interest in the CD until maturity lets it compound on itself. Choosing monthly or annual payouts means that interest leaves the CD and no longer earns additional interest unless you reinvest it somewhere else.
Early Withdrawal Penalties
Pulling money out of a 360 CD before the term ends triggers a penalty. Capital One charges 3 months of interest for CDs with shorter terms (like a 1-year CD) and 6 months of interest for longer terms (3-year and 5-year CDs). These penalties come out of the interest you’ve earned, though if you withdraw very early in the term and haven’t earned enough interest to cover the penalty, it can eat into your principal.
Compared to other major banks, Capital One’s penalties are moderate. Some institutions charge as much as 365 days of interest for breaking a 5-year CD. Still, the penalty is steep enough that you should only put money into a CD that you’re confident you won’t need before the term ends. If there’s any chance you’ll need the funds, a high-yield savings account offers more flexibility, even if the rate is slightly lower.
Who the 360 CD Is Best For
The 360 CD fits well if you have a specific savings goal with a known timeline. For example, if you’re saving for a home down payment you plan to make in two years, a 24-month CD lets you lock in a guaranteed return and removes the temptation to spend the money. The no-minimum-deposit feature also makes it accessible if you’re just starting to build savings and don’t have thousands of dollars to set aside.
The account is managed entirely online and through Capital One’s mobile app. There are no physical branch visits required to open, fund, or manage the CD. You can set up the account in minutes, fund it from an existing Capital One account or an external bank, and track your interest earnings from your dashboard. When the CD approaches maturity, Capital One notifies you and gives you a grace period to decide whether to withdraw, change terms, or let it renew automatically at the current rate.