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Capital One: 11-Month 360 CD Expired

5% APY
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+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.

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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/

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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 2011
L3: Novice
> bubble2 274 Posts
38 Reputation
natedawg87
02-08-2023 at 07:59 AM.
02-08-2023 at 07:59 AM.
Saw that my CD was "opened" but was still at a $0 balance with my initial deposit in a processing state with a date of Feb 22. Called and she said that since this was my first Cap1 account, there is a 7-10 business day period while they make sure the amount isn't associated with fraud and things like that. She did say the interest would start from the day of the transfer. (yesterday for me)
Reply
Last edited by natedawg87 February 8, 2023 at 08:01 AM.
Joined Dec 2010
L3: Novice
> bubble2 135 Posts
383 Reputation
hellomeitis
02-08-2023 at 08:56 AM.
02-08-2023 at 08:56 AM.
Quote from spinnindeals :
I looked up Redneck Bank on the FDIC website to see it is in insured but it does not pull up on there?

BMO Harris bank is FDIC insured and giving 4.2% in savings account. Anyone has account with them?
Reply
Joined Oct 2005
SD Forever...
> bubble2 4,609 Posts
361 Reputation
Elpee
02-08-2023 at 11:24 AM.
02-08-2023 at 11:24 AM.
A newbie question.
To prevent the penalty for early withdrawal, with 50K, can I open 5 separate CDs (10K/each) with Cap One? Just in case I need to withdraw less then 10K when my emergency fund runs out during 11 months.
Thanks.
Reply
Joined Mar 2017
New User
> bubble2 6 Posts
10 Reputation
shahra
02-08-2023 at 11:55 AM.
02-08-2023 at 11:55 AM.
Quote from Elpee :
A newbie question.
To prevent the penalty for early withdrawal, with 50K, can I open 5 separate CDs (10K/each) with Cap One? Just in case I need to withdraw less then 10K when my emergency fund runs out during 11 months.
Thanks.
You should be able to but note that you will still face an early withdrawal penalty on the 10k if you choose to break it. An alternative might be to put 40k in CD/CDs with Cap 1 and to put 10K in a high yield savings account I believe Cap1 also has one of these. While the rate will be lower than 5% in the savings account - the money is available to you when you need it. Caveat - HY Savings accounts rates are not fixed or guaranteed like a CD.
Reply
Joined Oct 2005
SD Forever...
> bubble2 4,609 Posts
361 Reputation
Elpee
02-08-2023 at 12:31 PM.
02-08-2023 at 12:31 PM.
Quote from shahra :
You should be able to but note that you will still face an early withdrawal penalty on the 10k if you choose to break it. An alternative might be to put 40k in CD/CDs with Cap 1 and to put 10K in a high yield savings account I believe Cap1 also has one of these. While the rate will be lower than 5% in the savings account - the money is available to you when you need it. Caveat - HY Savings accounts rates are not fixed or guaranteed like a CD.
Thanks, shahra.
Reply
Joined Jun 2018
L2: Beginner
> bubble2 65 Posts
22 Reputation
PurplePassenger621
02-08-2023 at 12:42 PM.
02-08-2023 at 12:42 PM.
Quote from Elpee :
Thanks, shahra.
Or look into the treasury bills as some of us have in this thread
Reply
Joined Aug 2007
L4: Apprentice
> bubble2 325 Posts
43 Reputation
miami
02-08-2023 at 12:59 PM.
02-08-2023 at 12:59 PM.
Quote from Elpee :
A newbie question.
To prevent the penalty for early withdrawal, with 50K, can I open 5 separate CDs (10K/each) with Cap One? Just in case I need to withdraw less then 10K when my emergency fund runs out during 11 months.
Thanks.
Yes. I do this with all mine.
Reply

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Joined Mar 2006
L5: Journeyman
> bubble2 766 Posts
173 Reputation
bdsits
02-08-2023 at 01:01 PM.
02-08-2023 at 01:01 PM.
Quote from nyc10036 :
You can buy direct issue T-Bills at Fidelity.
The schedule is here https://www.treasurydirect.gov/au.../upcoming/ [treasurydirect.gov]

You need money in your account the day of the auction.
Can you sell these T-Bills before the maturity date if you need the cash? Do you lose the entire interest rate in that case?
Reply
Joined Jun 2008
L8: Grand Teacher
> bubble2 3,324 Posts
1,103 Reputation
dagadu
02-08-2023 at 01:35 PM.
02-08-2023 at 01:35 PM.
Quote from Elpee :
A newbie question.
To prevent the penalty for early withdrawal, with 50K, can I open 5 separate CDs (10K/each) with Cap One? Just in case I need to withdraw less then 10K when my emergency fund runs out during 11 months.
Thanks.
The penalty fee is $125 for every 10k and you'll break even if you don't take out within 6 months. I think it's worth more to put 20% of your CD into savings like the other SDer said. At least you get 2% interest worry free saving which you can take out at anytime for emergency purpose.
Reply
Joined May 2016
Fatwallet
> bubble2 618 Posts
125 Reputation
jschuman01
02-08-2023 at 01:39 PM.
02-08-2023 at 01:39 PM.
Quote from bdsits :
Can you sell these T-Bills before the maturity date if you need the cash? Do you lose the entire interest rate in that case?
Yes, you can sell them, however you pay a sells commison and if interest rates are currently higher than when you purchased the t-bill, it is worth less and you probably will lose some capital, however not much. I'm talking about short duration T-Bills, you could lose much more on 5/10/30 year ones for sure.
Reply
Last edited by jschuman01 February 8, 2023 at 01:42 PM.
Joined Jul 2006
L6: Expert
> bubble2 1,217 Posts
484 Reputation
PrincipalMember
02-08-2023 at 03:03 PM.
02-08-2023 at 03:03 PM.
My wife happens to be talking to their customer service. I don't know why anybody in their right mind (that includes my wife) will keep an account with them. She is on the 3rd agent and they are all clueless and just asking her to do stuff on website and directing her to links that don't exist.
Reply
Joined Mar 2017
New User
> bubble2 6 Posts
10 Reputation
shahra
02-08-2023 at 03:28 PM.
02-08-2023 at 03:28 PM.
Quote from Elpee :
Thanks, shahra.
You are welcome! Good luck with your savings journey!
Reply
Joined Jun 2007
L3: Novice
> bubble2 224 Posts
39 Reputation
havahava
02-08-2023 at 03:37 PM.
02-08-2023 at 03:37 PM.
Quote from PrincipalMember :
My wife happens to be talking to their customer service. I don't know why anybody in their right mind (that includes my wife) will keep an account with them. She is on the 3rd agent and they are all clueless and just asking her to do stuff on website and directing her to links that don't exist.
I agree with you. They closed my CD with no explanation and when I called them they said I did not fund the account. Well when I opened the CD I provided the bank routing number, account number and they even told me that they would try two small transactions.

If they were expecting me to fund it differently shouldn't they have at least sent me an email. It was a big waste of time.
Reply
Joined Feb 2023
L4: Apprentice
> bubble2 379 Posts
34 Reputation
LivelyTree6515
02-08-2023 at 07:21 PM.
02-08-2023 at 07:21 PM.
Robinhood have 4.15% with their Gold accounts ($5 per month fee) on your uninvested cash. You can cancel anytime, can invest that money anytime, no need for stupid 1980s CDs
2
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Joined Oct 2005
SD Forever...
> bubble2 4,609 Posts
361 Reputation
Elpee
02-08-2023 at 07:32 PM.
02-08-2023 at 07:32 PM.
Quote from miami :
Yes. I do this with all mine.
Thanks, you answered my question.
Reply
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