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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 Dec 2011
L7: Teacher
> bubble2 2,062 Posts
135 Reputation
nevergoodenough
02-03-2023 at 03:16 AM.
02-03-2023 at 03:16 AM.
Quote from AmsterdamVallon :
cap1 increase?
increased to only 3.4... this 5.0 is looking tempting
Reply
Joined Aug 2018
L2: Beginner
> bubble2 66 Posts
10 Reputation
GreenMoney6014
02-03-2023 at 03:20 AM.
02-03-2023 at 03:20 AM.
How do we close CD, is it as simple as transferring money from CD to other capital one checking/ savings account Or do we need to call them or visit a branch?
Reply
Joined Nov 2011
L3: Novice
> bubble2 337 Posts
61 Reputation
steelcurtain59
02-03-2023 at 03:21 AM.
02-03-2023 at 03:21 AM.
Quote from klobster :
To build (haha) on this, a great option over savings is to start a CD ladder.Budget out a years worth of investments, divide by 12, then purchase a new one every month., creating a new "rung" every time If after a year, things looking good for you, pull the interest and reinvest the principal, or keep throwing it all back in..Gives you decent liquidity after the first year. Just keep climbing that ladder. Not as risky as the "free market", might have to weigh out gov't bonds and T-Bills for your own situation, but it's a nice option to have that sweet spot of interest and cash availability. Ask your doctor if golfing is right for you. Then go hit the links with them and talk to people who can afford to dabble in all of those.
Today agree. My financial planning is laddering treasuries for us. My CD funds are my savings towards a new car I won't need for 23 months when I retire and have to give up my company car. Dave Ramsey has taught me well. Save up, sacrifice and pay cash.
Reply
Joined Jan 2018
L2: Beginner
> bubble2 33 Posts
22 Reputation
NeatCemetery7031
02-03-2023 at 03:22 AM.
02-03-2023 at 03:22 AM.
Quote from agarwalami :
Wallet hub review of primis bank , read the comments on the page

https://wallethub.com/profile/primis-13005694i
Those two reviews are from almost two years ago. The way they are written seem to be not helpful in any way.
Reply
Joined Jul 2014
L9: Master
> bubble2 5,619 Posts
472 Reputation
FHRITP
02-03-2023 at 03:37 AM.
02-03-2023 at 03:37 AM.
Savings rates are around 4% now. Who would want to lock up money for a year? No thanks.
Reply
Joined Dec 2013
L99: N00B
> bubble2 361 Posts
563 Reputation
IvanZ88
02-03-2023 at 03:56 AM.
02-03-2023 at 03:56 AM.
Quote from Omegadeal2000 :
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?

No, if you withdraw first 3 months, you will indeed lose your original investments. Example: Put $10000, wait 20 days and cancel CD, get only $9950 back
Reply
Joined May 2005
L10: Grand Master
> bubble2 11,573 Posts
876 Reputation
smartdeals
02-03-2023 at 03:58 AM.
02-03-2023 at 03:58 AM.
is there 50 usd account closing fee?
Reply

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Joined Mar 2017
L2: Beginner
> bubble2 54 Posts
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bescom700
02-03-2023 at 04:01 AM.
02-03-2023 at 04:01 AM.
Who wants to lock money for one year and lose three months of interest if you withdraw early,there are savings that pay that much👎👎
2
Reply
Joined Dec 2013
L99: N00B
> bubble2 361 Posts
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IvanZ88
02-03-2023 at 04:11 AM.
02-03-2023 at 04:11 AM.
Here is my thinking: most reputable bank offers around 3.4-3.5% for their HYSA. And CD is around 4.4%.

I don't do small banks even they are FDIC. This is just me.

I already doing Tbill, index funds, so for me personally, it is fine to lock my money. If it jumps to 5.5% for CD, great, I will buy it again.
Reply
Joined Aug 2019
Permanent Ban
> bubble2 96 Posts
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BareFun4U
02-03-2023 at 04:30 AM.
02-03-2023 at 04:30 AM.
Quote from George_P_Burdell :
which one is 5.25?
https://www.navyfederal.org/check...rates.html

Not seeing one

Dividend Rate is
4.88%
Reply
Joined Aug 2019
Permanent Ban
> bubble2 96 Posts
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BareFun4U
02-03-2023 at 04:35 AM.
02-03-2023 at 04:35 AM.
Quote from IndiaPaleAle :
5.25 NFCU here. A bird in the hand is worth two in the bush.

It is
4.88% not 5.25%
Reply
Joined Aug 2019
Permanent Ban
> bubble2 96 Posts
22 Reputation
BareFun4U
02-03-2023 at 04:37 AM.
02-03-2023 at 04:37 AM.
Quote from George_P_Burdell :
which one is 5.25?
https://www.navyfederal.org/check...rates.html

Not seeing one

It is 4.88% or Lower. 5.25% Doesn't Exist!
Reply
Joined Nov 2022
L2: Beginner
> bubble2 78 Posts
18 Reputation
NeatTank3537
02-03-2023 at 04:38 AM.
02-03-2023 at 04:38 AM.
Quote from IvanZ88 :
No, if you withdraw first 3 months, you will indeed lose your original investments. Example: Put $10000, wait 20 days and cancel CD, get only $9950 back
does it say that anywhere? and how did you come up with that number in your example?
Reply
Joined Jan 2011
L5: Journeyman
> bubble2 722 Posts
456 Reputation
mysore99
02-03-2023 at 04:48 AM.
02-03-2023 at 04:48 AM.
Quote from bescom700 :
Who wants to lock money for one year and lose three months of interest if you withdraw early,there are savings that pay that much👎👎
Please understand the difference between a CD and Savings account. Different people have different needs.

As an example, a retired person may gladly settle for a 4% 10 year CD instead of a 5.25% savings account rate.
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