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Capital One: 11-Month 360 CD Expired

5% APY
(No Minimum Deposit)
+444 Deal Score
449,599 Views
Update: this extremely popular deal is still available.

Capital One is offering a 11-Month 360 Certificate of Deposit at 5% APY with no minimum deposit.

Thanks to Community Member ginger_ale for finding this deal.

Original Post

Written by
Edited February 24, 2023 at 12:11 AM by
No minimum balance required.

Expires 3/15/23

https://www.capitalone.com/bank/cds/online-cds/

Full CD Disclosure

https://www.capitalone.com/bank/d...nline-cds/
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Deal
Score
+444
449,599 Views
5% APY
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So I started to ladder T-Bills for the reasons everyone is stating in this thread. The rate is so volatile (in a good way) that locking into anything even 12 months is too long for me and rates continue to climb. I use fidelity and my suggestion is this.

When they offer the new 4 week and 8 week and 13 week t-bill (they auction on diff days and diff weeks) go in and buy one of each of them with whatever money you can spare. Let's use 5k for each.

I would buy a 4 week t-bill with NO Rollover for 5k
I would buy an 8 week t-bill with NO Rollover for 5k
I would buy a 13 week t-bill WITH Rollover for 5k

Then after 4 weeks when that first on comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Then after 8 weeks when the second comes up, buy another 13 week t-bill with the 5k WITH Rollover.

Now you will have 3 13 week t-bills rolling every 4 weeks or so and rolling into a new one with the proceeds. This way every 4 weeks you are capturing an increasing rate and not locked into anything longer than 13 weeks. You benefit from the rate hikes, can cash out at any time, and you have state tax shelter from the earned interest.

I can almost guarantee that the above will yield you more net income (taking in tax break) at the end of 11months then the 5% locked CD

just my 2cents
You can buy treasuries from just about any brokerage. I use Fidelity, as I like their platform and they don't charge fees/commissions for treasuries.
Fidelity Fixed Income Page [fidelity.com]
Follow the above link and scroll down to the row "U.S. Treasury." Choose the duration you want and click on it. You can then click "buy" to start a trade of a specific treasury bill/bond.
Fidelity's Intro to Treasuries [fidelity.com]
This is true, but it doesn't make an 11-month CD at 5% a bad idea. Those HYS can change their rates at any time, but here you're guaranteed to get 5%.

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Joined Nov 2022
New User
> bubble2 5 Posts
14 Reputation
WiseDolphin8928
02-02-2023 at 02:29 PM.
02-02-2023 at 02:29 PM.
Quote from charger :
What's the highest savings account APY from a reliable bank/credit union that does NOT require direct deposit? I'm seeing UFB Direct at 4.21% but I've never heard of them before.

UFB offers a great rate and then lowers it a bit later. Happened to me before so I swore never to use them
Reply
Joined Feb 2017
L6: Expert
> bubble2 1,390 Posts
1,161 Reputation
yslsd
02-02-2023 at 02:30 PM.
02-02-2023 at 02:30 PM.
5% beats t-bills if you don't need to pay state taxes!
Reply
Joined Feb 2011
L10: Grand Master
> bubble2 10,734 Posts
5,805 Reputation
shopperuvdealz
02-02-2023 at 02:36 PM.
02-02-2023 at 02:36 PM.
How would you cashout on a CD if there are no Capital One banks near you?
2
Reply
Joined Nov 2016
L1: Learner
> bubble2 21 Posts
18 Reputation
V_Twin
02-02-2023 at 02:38 PM.
02-02-2023 at 02:38 PM.
I thought Ally's 13-month CD @ 4.60% was a good deal when I opened it a few days back. This is a very good rate. Some other come close but those guys have lousy websites and apps for the most part.
Reply
Joined Aug 2017
New User
> bubble2 9 Posts
10 Reputation
f3l0n
02-02-2023 at 02:39 PM.
02-02-2023 at 02:39 PM.
I want to jump on this but the fed should be increasing the rate in the next 2 meetings. I assume CDs will be going a slight bit higher. Also waiting until April to see the new I bond rate if I'd rather purchase an I bond over a CD.
1
1
Reply
Joined Jul 2019
Lil Jimmy,Bng 9er Gng
> bubble2 3,694 Posts
94c107ea-869c-45a5-becd-c6b552
02-02-2023 at 02:39 PM.
02-02-2023 at 02:39 PM.
Quote from George_P_Burdell :
which one is 5.25?
https://www.navyfederal.org/check...rates.html [navyfederal.org]

Not seeing one
.25% kicker if you're a 25 year member, I joined at 18.
1
Reply
Joined Aug 2013
L2: Beginner
> bubble2 33 Posts
10 Reputation
japandabare
02-02-2023 at 02:41 PM.
02-02-2023 at 02:41 PM.
I have capital one, savings account accruing 3.3% APY. Do we know if this will increase anytime soon?
Reply

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Joined Jan 2007
L9: Master
> bubble2 4,139 Posts
1,344 Reputation
geoffkin
02-02-2023 at 02:42 PM.
02-02-2023 at 02:42 PM.
Quote from shopperuvdealz :
How would you cashout on a CD if there are no Capital One banks near you?
Did you just discover the internet??
9
4
Reply
Joined Jan 2007
L9: Master
> bubble2 4,139 Posts
1,344 Reputation
geoffkin
02-02-2023 at 02:46 PM.
02-02-2023 at 02:46 PM.
Quote from japandabare :
I have capital one, savings account accruing 3.3% APY. Do we know if this will increase anytime soon?
It was just raised to 3.4%

https://www.capitalone.com/bank/s...s-account/
Reply
Joined Oct 2018
L2: Beginner
> bubble2 62 Posts
14 Reputation
glg_99
02-02-2023 at 02:47 PM.
02-02-2023 at 02:47 PM.
I use Alliant credit union their cd are 4.6%
1
Reply
Joined Feb 2011
L10: Grand Master
> bubble2 10,734 Posts
5,805 Reputation
shopperuvdealz
02-02-2023 at 02:47 PM.
02-02-2023 at 02:47 PM.
Quote from geoffkin :
Did you just discover the internet??
I've never done a "CD" so how am I suppose to know! Instead of being mean, why not be helpful!
2
Reply
Joined Aug 2006
L2: Beginner
> bubble2 72 Posts
10 Reputation
lovethemdeals
02-02-2023 at 02:50 PM.
02-02-2023 at 02:50 PM.
Quote from IndiaPaleAle :
Doubtful. Fed only hiked 25bp yesterday.

You clearly haven't been following along. They will continue quarter point hikes, or possibly no hikes at some point, but they aren't going to drop it for at least a year. Inflation could also likely rip back upwards, putting larger hikes on the table again.
Reply
Joined Oct 2010
L5: Journeyman
> bubble2 602 Posts
868 Reputation
TopFlight
02-02-2023 at 02:51 PM.
02-02-2023 at 02:51 PM.
Quote from Omegadeal2000 :
Anyone know the max amount you can put into this 11 month 5% CD?
Initial Deposit Requirement: There is no minimum deposit required to open or maintain a Certificate of Deposit account. However, your Certificate of Deposit account may not exceed $1,000,000.
Reply
Joined Nov 2018
L4: Apprentice
> bubble2 425 Posts
46 Reputation
Omegadeal2000
02-02-2023 at 02:54 PM.
02-02-2023 at 02:54 PM.
So the consequence of ending earlier is just you forfeit some of the interest you already "earned"? So for example, you put in $10,000, the penalties will never mean you lose any of the original $10,000, just the interest you earned? So basically no risk to your original investment?
Reply

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Joined Jul 2019
Lil Jimmy,Bng 9er Gng
> bubble2 3,694 Posts
94c107ea-869c-45a5-becd-c6b552
02-02-2023 at 02:55 PM.
02-02-2023 at 02:55 PM.
Quote from lovethemdeals :
You clearly haven't been following along. They will continue quarter point hikes, or possibly no hikes at some point, but they aren't going to drop it for at least a year. Inflation could also likely rip back upwards, putting larger hikes on the table again.
i didn't say anything about a drop. composite i bond rates have been trending down with latest fed hikes. there's no guarantee highest CD rates today will be higher next month, meanwhile where's the capital in the meantime?
Reply
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