Thu. May 19th, 2022
Capital One pays better CD rates than brick-and-mortar banks, with no minimum deposits

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Capital One CD rates

Capital One pays significantly higher rates than what you’ll earn with brick-and-mortar banks, especially for long-term CDs.

Capital One is one of the few banks that doesn’t require any minimum deposit, so you can open a CD regardless of how much money you have.

The bank charges low-to-standard penalties for withdrawing funds before your CD matures. You’ll pay 3 months interest for a term of 1 year or less, and 6 months interest for a term of more than a year.

How Capital One CD rates compare with competitors

We compared Capital One CD rates with two other

online banks

known for paying high rates: Ally and Marcus by Goldman Sachs.

Capital One CD rates vs. Ally CD rates

Both banks are among the few that let you open a CD with no minimum deposit.

Ally also has an 11-month No Penalty CD and a 2-year or 4-year Raise Your Rate CD. The latter gives you the option to increase your rate should Ally’s rates go up during your term — once during the two-year term, and twice during the 4-year term.

Capital One CD rates vs. Marcus CD rates

Marcus pays similar CD rates than Capital One. But Marcus requires $500 to open a CD, so if you don’t have that much cash ready, Capital One is the clear choice.

There is also a Marcus No-Penalty CD with 7-month, 11-month, and 13-month terms.

Laura Grace Tarpley, CEPF

Personal Finance Reviews Editor

Laura Grace Tarpley is a personal finance reviews editor at Insider. She edits articles about mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).
She has written about personal finance for six years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at
See below for some of her work.
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