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Capital One: 11-Month 360 CD Expired

5% APY
(No Minimum Deposit)
+444 Deal Score
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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.
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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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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 Oct 2016
L2: Beginner
> bubble2 55 Posts
10 Reputation
BlockCharger
02-03-2023 at 11:08 AM.
02-03-2023 at 11:08 AM.
Quote from OrangeMustang158 :
Super thanks for the detail process. I'm sure you are bombarded with questions, but when do you think is a good time to stop the treasury laddering (if ever)? Thanks in advance.
When the rates start to lower and I can get a better return back in the stack market. Right now we are experiencing more of a flight to low risk no risk instruments because the fed keeps increasing rates. As this happens bonds tank and stocks don't fly and generally pull back. At the same time t bills savings acts and cds close the gap on those other riskier alternatives. 4 to 5 percent free money is awesome and I'll take that all day over our l possibly 5 to 7 percent in the market. So I will gladly keep laddering more and more cash as long as rates stay above 4 percent. I mean think about it. If you have 300k in savings. At 5% return risk free that's 15k a year to you. And you don't pay state tax on that. Once that recedes to 2% is not worth it anymore and it's time to go back into the market
Reply
Joined Nov 2008
L7: Teacher
> bubble2 2,060 Posts
959 Reputation
onedollar
02-03-2023 at 11:09 AM.
02-03-2023 at 11:09 AM.
Quote from MichaelP84 :
I know Citi has a bad rep in the banking community, however they are offering a 12mo no penalty CD @ 4.05%. Making it very liquid after the initial 7 days. Might be worth it of you are already banking with them.

https://online.citi.com/US/ag/banking/cd-account
Thanks, this might be a better option for me (especially since Citi is my primary bank) and it's also liquid.
Reply
Joined Oct 2016
L2: Beginner
> bubble2 55 Posts
10 Reputation
BlockCharger
02-03-2023 at 11:12 AM.
02-03-2023 at 11:12 AM.
Quote from miketh2005 :
Why buy with a broker rather than TreasuryDirect?
Because all of my investments...401k...ira... brokerage.. company restricted shares.... options are all in fidelity. It's free to buy them via fidelity and they show right in my dashboard. There is zero advantage to using the treasury site for me. Sure they allow you to see the t bills earlier than fidelity and yes you can buy smaller amounts than 1k but neither of those are roadblocks for me. The ability to have it all one stop shopping for me is awesome
Reply
Joined Nov 2022
L2: Beginner
> bubble2 78 Posts
18 Reputation
NeatTank3537
02-03-2023 at 11:26 AM.
02-03-2023 at 11:26 AM.
Quote from ndj123 :
Did anybody have success opening multiple CDs with this offer?
or has info directly from CS?
I called them up and asked about opening up multiple CD accounts. Yes, you can open up like 24 CD accounts. However, the FDIC insurance will still only cover $250,000 COMBINED in all your CD Accounts unless they are joint accounts which has a max of $500,000 insurance.
Reply
Joined Jan 2011
L9: Master
> bubble2 5,934 Posts
1,209 Reputation
mrdizle
02-03-2023 at 11:38 AM.
02-03-2023 at 11:38 AM.
Quote from WingedWheel :
I think you're calculating based on 12 months. This is an 11 month CD.
thank you
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Joined Jan 2009
L3: Novice
> bubble2 263 Posts
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LanceTX
02-03-2023 at 12:09 PM.
02-03-2023 at 12:09 PM.
Quote from nomoney4deals :
For anyone that opened the CD at Capital One, remember you have the option of keeping the interest earned each month inside the CD (don't think they do compound) or have the interest earned roll out to your savings account each month. Right now Capital one savings account gives you 3.3 APR interest. So if you have a big porfolio on CD, you can potentially earn more in CD and the the interest from your monthly distribution on the Capital One savings account.
That's not correct, it does compound at 5% if left in the CD.

From the interest payouts section on Capital One's website:
Quote :
The interest in your CD will compound every month until your maturity date.
Reply
Joined Jul 2013
L5: Journeyman
> bubble2 913 Posts
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nomoney4deals
02-03-2023 at 12:13 PM.
02-03-2023 at 12:13 PM.
Quote from LanceTX :
That's not correct, it does compound at 5% if left in the CD.

From the interest payouts section on Capital One's website:
ah.. Thats good to know. Because at the end of the opening, it will show how much it is worth when its matured and I don't see that amount with the compound. I'll look into it. Thanks.
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Joined Nov 2013
L6: Expert
> bubble2 1,639 Posts
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ndj123
02-03-2023 at 12:18 PM.
02-03-2023 at 12:18 PM.
Quote from Nattefrost :
i looked into treasury direct for t-bill but gave up bc it looked complicated. I have to see how its done thru Fidelity.
Don't recommend Fidelity for treasury at all. Its interface super confusing and misleading, especially if you are buying it 1st time.
I am very good with math and did plenty of my homework - Fidelity misleading information still made me LOOSE some money.
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Joined Jan 2009
L3: Novice
> bubble2 263 Posts
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LanceTX
02-03-2023 at 12:33 PM.
02-03-2023 at 12:33 PM.
Quote from nomoney4deals :
ah.. Thats good to know. Because at the end of the opening, it will show how much it is worth when its matured and I don't see that amount with the compound. I'll look into it. Thanks.
Just remember it's 11 months, not 12, so that will throw off the calculations if 12 months is assumed. Many of the online compound interest calculators I've seen factor by the year.
Reply
Joined Dec 2005
Chief Bottlewasher
> bubble2 1,033 Posts
452 Reputation
candelabra
02-03-2023 at 12:41 PM.
02-03-2023 at 12:41 PM.
Man this thread exploded with activity, all it needs is a summary of rates at the top and Hey Presto! We have the Fatwallet Finance reborn Smilie Loved that thing, and lots of good advice out there...
Reply
Joined Jan 2015
peeing outdoors
> bubble2 1,893 Posts
939 Reputation
khronos
02-03-2023 at 12:59 PM.
02-03-2023 at 12:59 PM.
4.71% indexed monthly

https://www.ivybank.com/savings#legalDisclaimer
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Joined Oct 2005
valueamerica.com dayz
> bubble2 2,369 Posts
862 Reputation
ValueAmerica
02-03-2023 at 01:10 PM.
02-03-2023 at 01:10 PM.
With today's Jobs report, rates will likely cross 5.50-5.75% territory? CDs less than that don't seem attractive, I think makes sense to wait to get better rate.
2
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Joined Nov 2014
L4: Apprentice
> bubble2 386 Posts
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low_ball_88
02-03-2023 at 01:17 PM.
02-03-2023 at 01:17 PM.
Quote from maxxxx :
How do you get to 11.68%? As far as I can tell JEPI went from 50 in 2020 to 55 now.
Not comparing this to CD but if someone is interested in dividend, JEPI will pay 11.68% Yield. the price of the ETF is currently trading in the mid 50's. You could trade ETF like a stock. Always do your own DD.
Reply
Last edited by low_ball_88 February 3, 2023 at 01:33 PM.
Joined Apr 2013
L2: Beginner
> bubble2 40 Posts
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aeroten
02-03-2023 at 02:10 PM.
02-03-2023 at 02:10 PM.
Quote from xmonger :
Here's a hack that not everyone thinks about. Break the amount you lock in a CD into smaller amounts.

For example, if you are doing a 500k CD, do 5 100k accounts. That way, if you need 100k or less before term you only get 1/5 the penalty as you only have to break one smaller CD.
I find people with the ability to do 500k CD surfing slickdeals as ironic as someone shopping at Walmart arriving in their Tesla X.

This was meant as a joke, no offense meant. Good advice nonetheless.
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Joined Nov 2014
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> bubble2 111 Posts
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mblock66
02-03-2023 at 02:12 PM.
02-03-2023 at 02:12 PM.
Quote from ndj123 :
Don't recommend Fidelity for treasury at all. Its interface super confusing and misleading, especially if you are buying it 1st time.
I am very good with math and did plenty of my homework - Fidelity misleading information still made me LOOSE some money.
This makes no sense. Nothing is misleading at all. I did it for the first time through them not long ago. Super easy. Didn't lose any money.

Click Fixed Income Tab
Click New Issues
Click Treasuries
Choose the T-Bill that you want assuming it is there based on the auction schedule.
Pick the amount and if you want rollover

Done.

Remember you are buying T-bills at a discount to the face 1000. At maturity it will be worth 1000. I wonder if you bought on the secondary and not new auction.
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