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Capital One Savings: 3.40% APY + Up to $1000 Bonus with Up to $100K Deposit

+28 Deal Score
88,600 Views
Capital One 360 PERFORMANCE SAVINGS
Earn up to a $1,000 bonus. Open with promo code SPRING23 by 5/10/2023.

Here's the full scoop on how to earn your bonus:
  1. Open a 360 Performance Savings account between 12:00 a.m. ET on March 22, 2023, and 11:59 p.m. ET on May 10, 2023. When you open your account, ensure the promo code SPRING23 is entered in the Promo Code box.
  2. Deposit a total of $10,000 or more of new money within the first 15 days of account opening. You will earn a bonus once you've maintained the Deposit Amount of $10,000 or more for 90 days. The amount of your bonus will be determined as follows:
    • $100 bonus – The new money deposited from an external bank during the Initial Funding Period was between $10,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
    • $500 bonus – The new money deposited from an external bank during the Initial Funding Period was between $50,000-$99,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
    • $1,000 bonus – The new money deposited from an external bank during the Initial Funding Period was more than $100,000, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
  3. Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above, including fulfilling the 90-day holding period.

Editor's notes text: Compare this rate to other savings accounts.

https://www.capitalone.com/bank/spring23/
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Deal
Score
+28
88,600 Views
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Aug 2004
L8: Grand Teacher
> bubble2 3,034 Posts
253 Reputation
zpeedster_m
03-24-2023 at 03:07 AM.
03-24-2023 at 03:07 AM.
$1000 gain but gov't taxes so maybe < $800 right?
Reply
Joined Apr 2008
L2: Beginner
> bubble2 41 Posts
14 Reputation
cgrjets
03-24-2023 at 11:07 AM.
03-24-2023 at 11:07 AM.
I have access to a $100k at 2.95%. Please check my math. If this process takes 4 months, I'll pay $737.50 in interest on the loan. I'll make $850 in interest plus the 1k. $1850 - $737.50 comes out to $1112.50 profit. A no penalty 4.75% cd will only pay $1187.50 over 4 months - $737.50 equals $450. I stand to make $662.50 more. Liability is I am out the interest if I have to pay the loan back sooner than 4 months (not really a concern.) Also opens me to other offers in 4ish months. What else should I do with 100k at 2.95%?
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Joined Mar 2004
L5: Journeyman
> bubble2 765 Posts
63 Reputation
reedie
03-24-2023 at 01:18 PM.
03-24-2023 at 01:18 PM.
Quote from Rent :
Whatever has the highest APR

Bankers are absolute scum of the universe. I wish they'd all just vanish. Use and abuse banks as much as you can. They deserve a fate far worse

Taking our money and making 15% while they give us 3%

Compound interest is the enemy of the poor and impoverished
"banks are bad, use them as much as you can"
That makes a lot of sense. What other products do you wish to see vanish that you recommend should be used a lot?
1
Reply
Joined Nov 2006
L6: Expert
> bubble2 1,381 Posts
87 Reputation
sunspotzsz
03-24-2023 at 01:38 PM.
03-24-2023 at 01:38 PM.
I had capitalone 360 account in 2017 I think but I am not sure if I closed it by jan 1 2019. any way to find out?
Reply
Joined Aug 2008
L1: Learner
> bubble2 36 Posts
26 Reputation
TheFlyingWonTon
03-25-2023 at 07:30 AM.
03-25-2023 at 07:30 AM.
Can a spouse also apply for the same bonus?
Reply
Joined Oct 2021
L4: Apprentice
> bubble2 325 Posts
51 Reputation
Xtremeth
03-25-2023 at 12:40 PM.
03-25-2023 at 12:40 PM.
Quote from cgrjets :
I have access to a $100k at 2.95%. Please check my math. If this process takes 4 months, I'll pay $737.50 in interest on the loan. I'll make $850 in interest plus the 1k. $1850 - $737.50 comes out to $1112.50 profit. A no penalty 4.75% cd will only pay $1187.50 over 4 months - $737.50 equals $450. I stand to make $662.50 more. Liability is I am out the interest if I have to pay the loan back sooner than 4 months (not really a concern.) Also opens me to other offers in 4ish months. What else should I do with 100k at 2.95%?

Do you have to factor in taxes on interest?
Reply
Joined Apr 2008
L2: Beginner
> bubble2 41 Posts
14 Reputation
cgrjets
03-25-2023 at 01:03 PM.
03-25-2023 at 01:03 PM.
Quote from Xtremeth :
Do you have to factor in taxes on interest?
I believe they would be the same in either scenario so wasn't worried what they'd be at the end of the year.
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Joined Jul 2015
L3: Novice
> bubble2 263 Posts
35 Reputation
alfasub
03-25-2023 at 09:04 PM.
03-25-2023 at 09:04 PM.
How can one make an external transfer of 100k to CO within 15 days? Is this business days? One must first establish the linked bank with the checked cents deposits, that can take more than one week...Then there are transfer limits per day...Anyone managed to make the transfer within 15 days to receive the bonus? How?
Reply
Joined Oct 2017
L7: Teacher
> bubble2 2,808 Posts
859 Reputation
02nz
03-26-2023 at 07:33 AM.
03-26-2023 at 07:33 AM.
Quote from alfasub :
How can one make an external transfer of 100k to CO within 15 days? Is this business days? One must first establish the linked bank with the checked cents deposits, that can take more than one week...Then there are transfer limits per day...Anyone managed to make the transfer within 15 days to receive the bonus? How?
Many banks offer instant linking via Plaid or similar, and even if you do trial deposits it's at most 2-3 business days. As for transfer limits, that varies by bank and other factors. Remember you can do a pull at Capital One from the other bank AND a push at the other bank to Capital One. Mobile check deposit is another method.
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Joined Jun 2016
L2: Beginner
> bubble2 94 Posts
10 Reputation
a300johnnguyen
03-26-2023 at 12:44 PM.
03-26-2023 at 12:44 PM.
Very bad deal given some banks give you more than 5%. This one even with $1000 bonus only 4.4%
Reply
Joined Apr 2011
L6: Expert
> bubble2 1,184 Posts
558 Reputation
newbharry
03-26-2023 at 03:43 PM.
03-26-2023 at 03:43 PM.
Quote from outback_97 :
How are you getting 4.75? I am seeing 3.75 everywhere I look online.

https://www.bankrate.com/banking/...ngs-rates/
Use referral and AARP will bill this up to 4.85
Reply
Joined Apr 2011
L6: Expert
> bubble2 1,184 Posts
558 Reputation
newbharry
03-26-2023 at 03:44 PM.
03-26-2023 at 03:44 PM.
Quote from a300johnnguyen :
Very bad deal given some banks give you more than 5%. This one even with $1000 bonus only 4.4%
I would redo your math.. And understand how apy is calculated
Reply
Joined Nov 2015
L2: Beginner
> bubble2 25 Posts
10 Reputation
vinny1976
03-26-2023 at 04:19 PM.
03-26-2023 at 04:19 PM.
Opened an account last month. Damn, I can't get in on this offer. Any other good bank offers out there.
Reply
Joined Dec 2006
L5: Journeyman
> bubble2 678 Posts
197 Reputation
outback_97
03-27-2023 at 07:33 AM.
03-27-2023 at 07:33 AM.
Quote from newbharry :
Use referral and AARP will bill this up to 4.85
Your post is lean on details, but I found this. Let me know if I'm missing something.

Referral (requires I set up an account and convince someone else to as well) gives a 1% APY increase... for three months.
https://www.marcus.com/us/en/savi...s/referral

AARP (I'm not a member) gives you a .1% APY increase for 24 months
https://www.aarp.org/membership/b...man-sachs/

So in theory an AARP member who managed to get a referral would have a 4.85% APY (or whatever the current rate of 3.75% changes to +1%) through Marcus for three months, then a +.1% APY for two years.
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Joined Feb 2019
New User
> bubble2 114 Posts
30 Reputation
JayG17
03-28-2023 at 09:18 AM.
03-28-2023 at 09:18 AM.
Quote from stan1337 :
For anyone that used FALL22, how long did it take to get the bonus? I created my account on the last day and funded it immediately. Haven't gotten the bonus yet.
I used the FALL22 code. Deposited on Dec 1st plus the 15days period (the grace funding period from the day account was opened). So my actual hold period started Dec 15th to March 15th. I received my bonus on Mar 18th. Keep in mind, the promo details mentioned it could take up to 3 months from the end of the holding period. My effective rate (including bonus) was about 8.6% for 3.5months. Not bad.
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