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Capital One 360 Performance Savings Account: Earn Up to $1500 Bonus Funds w/ 4.3% APY Expired

Deposit $20K-100K+
(New Capital 360 Accounts)
+142 Deal Score
295,114 Views
Capital One offers New Accounts: Capital One 360 Performance Savings Account: Earn Up to $1,500 Bonus Funds w/ 4.5% APY w/ deposits ranging from $20,000 to $100,000 of external funds (within the 15-day Initial Funding Period Only) when you open a new account and fund the account and apply promo code FALL23 to receive this promotional bonus offer or when you follow the instructions listed below

Thanks to community member srhearts for finding this deal

Note, offer valid for New Capital One 360 Performance Saving Account only. If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary/secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for this bonus offer.

Deal Instructions
  1. Open a new Capital One 360 Performance Savings Account w/ promo code FALL23 by December 6, 2023
  2. Deposit $20,000+ of external funds within the 15-day Initial Funding Period after opening your account
    • Bonus Funds
      • Deposit $20,000+ & Earn $300 Bonus Funds
      • Deposit $50,000+ & Earn $750 Bonus Funds
      • Deposit $100,000+ & Earn $1,500 Bonus Funds
    • This exclusive offer will grant you the bonus and a high yield savings rate of 4.30% (APY) Annual Percentage Yield
  3. Hold the deposit(s) in your account for 90-days after the 15-day Initial Funding Period ends
  4. Earn the bonus funds in your new account within 60-days after holding
    • Note, bonuses are considered interest and will be reported on IRS form 1099-INT

Original Post

Written by
Edited November 4, 2023 at 08:09 PM by
First post so please feel free to modify
DEPOSIT BONUS
$20,000 +$300
$50,000 +$750
$100,000 +$1,500

https://www.capitalone.com/bank/f...4fy23_1025


If you have or had an open
360 Performance Savings,
360 Savings,
360 Money Market,
Savings Now
or Confidence Savings account
as a primary or secondary account holder with Capital One on or after January 1, 2021, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.
Certain deposit transactions initiated through the Capital One website to retrieve funds from your external account are subject to limits. If you are subject to these limits, in order to meet the offer requirements, you would need to initiate the deposit by another external method, such as mobile deposit or setting the initial deposit to send (rather than be retrieved from) from your external financial institution.
Here's the full scoop on how to earn your bonus:
STEP 1—Open a 360 Performance Savings account between 12:00 a.m. ET on November 1, 2023, and 11:59 p.m. ET on December 6, 2023. When you open your account, ensure the promo code FALL23 is entered in the Promo Code box.
STEP 2—Initial Funding Period. Deposit a total of $20,000 or more (Deposit Amount) of new money from externally sourced funds (transfers between Capital One accounts will not qualify) within the first 15 days of account opening (Initial Funding Period).
STEP 3—Hold Period. You will earn a bonus once you've maintained the Deposit Amount of $20,000 or more for 90 days following the Initial Funding Period. The Initial Funding Period is defined as the first 15 days from account opening, and the 90-day Hold Period does not begin until after the full 15-day Initial Funding Period.
The amount of your bonus will be determined as follows:
$300 bonus—The new money deposited from an external bank during the Initial Funding Period was between $20,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
$750 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.
$1,500 bonus—The new money deposited from an external bank during the Initial Funding Period was $100,000 or more, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
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. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus. If at any time during the 90 days following the Initial Funding Period your Deposit Amount drops into a lower tier, you will be rewarded that tier's cash bonus. If your Deposit Amount decreases to an amount less than $20,000, you will not qualify for a cash bonus. This offer cannot be combined with any other 360 Performance Savings account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Performance Savings account. Bonuses are considered interest and will be reported on IRS form 1099-INT.
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Deal
Score
+142
295,114 Views
Deposit $20K-100K+
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.

537 Comments

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Featured Comments

Jeez...wildly inaccurate posts like this should be deleted. You don't seem to understand that you are getting both a signup bonus AND the ongoing high-yield (currently 4.3%) interest. Please feel free to correct my math here, but I think the combined bonus puts the effective APY over 6% for the first year. Good luck finding any other liquid investment with a guaranteed yield like that.

Pretty good deal for someone who doesn't already have a Cap360 account (since existing or recent savings account holders don't seem to be eligible).
the capital one account also has 4.3% apy so it would be higher
That is not how this works.

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Joined Nov 2020
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> bubble2 769 Posts
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BeigeIdea523
11-05-2023 at 05:21 PM.
11-05-2023 at 05:21 PM.
Delete.
Reply
Joined Jan 2017
L2: Beginner
> bubble2 53 Posts
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mhassan6
11-05-2023 at 05:40 PM.
11-05-2023 at 05:40 PM.
Using a simple math. 4.30%+1.50%=~5.80%. You get about 5.50% from 4mo bill and that is state tax free.
Reply
Joined Jan 2015
SD User
> bubble2 2,608 Posts
1,361 Reputation
fivenue
11-05-2023 at 05:46 PM.
11-05-2023 at 05:46 PM.
Quote from NavyAlpaca5095 :
They did. I used this promo last year and didn't get the bonus. I had numerous issues when opening account and I think the promo code eventually disappeared

sorry for your experience.

cap 1 and us bank are competing with wells fargo for the title of the worst bank ever in the US.
Reply
Joined Feb 2023
L6: Expert
> bubble2 1,093 Posts
114 Reputation
oasisallure
11-05-2023 at 05:54 PM.
11-05-2023 at 05:54 PM.
Quote from newbharry :
transferred 100100$. Good deal. I just finished my discover 250 for 25k last week lol..

That was the best. $250 for 25k for just 30 days and existing customers... Still unbeatable ..
$200 for 25k now, are you sure it's for existing customer? Fine print doesn't say it's for current customer
Reply
Joined Oct 2014
L3: Novice
> bubble2 165 Posts
42 Reputation
snaik9127
11-05-2023 at 06:13 PM.
11-05-2023 at 06:13 PM.
Did anyone get a credit report pulled on their account? It appears on the disclosure that they might. My experience with Capone has been subpar ... had the credit card .. eventually had to close it.
Reply
Joined Feb 2010
L6: Expert
> bubble2 1,509 Posts
376 Reputation
nojmplease
11-05-2023 at 07:08 PM.
11-05-2023 at 07:08 PM.
Quote from mhassan6 :
Using a simple math. 4.30%+1.50%=~5.80%. You get about 5.50% from 4mo bill and that is state tax free.
That's not simple math, that's incorrect math. You are comparing a 5.5% ANNUAL rate from a t-bill which is a fair comparison to the 4.3% annual rate on 360 savings, BUT you earn the 1.5% bonus here in just 3 months. So it's effectively much higher over the 3 month period.
Reply
Last edited by nojmplease November 5, 2023 at 07:39 PM.
Joined Jan 2015
peeing outdoors
> bubble2 1,888 Posts
939 Reputation
khronos
11-05-2023 at 07:29 PM.
11-05-2023 at 07:29 PM.
Quote from mhassan6 :
Using a simple math. 4.30%+1.50%=~5.80%. You get about 5.50% from 4mo bill and that is state tax free.
correct math is better than simple math
Reply

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Joined Aug 2008
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jmecherul
11-05-2023 at 07:33 PM.
11-05-2023 at 07:33 PM.
Quote from nojmplease :
That's not simple math, that's incorrect math. You are comparing a 5.5% ANNUAL rate from a t-bill which is a fair comparison to the 4.3% rate on 360 savings, BUT you earn the 1.5% bonus here in just 3 months. So it's much higher over the 3 month period.
i think these folks are confused by all these rates plastered around. They are all APR as in Annual Percentage Rate. You dont get that unless you park your money for a full year people. Well, actually you get more as the interest in compounding. Divide the APR by 12 and multiply by your investment to get how much you earn per month. Do yourself a favor and google a componding calculator to calculate however months you park your money for at a certain APR
1
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Joined Apr 2007
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> bubble2 8,925 Posts
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snowcrash
11-05-2023 at 07:39 PM.
11-05-2023 at 07:39 PM.
Quote from jmecherul :
for those of you who dont have a good relationship with math, this turns out about getting 3% of your money over 4 months. well, you have to pay tax on it, but you have to pay tax on any other bank bonuses or interest.
I will use 100K deposit for this exercise.
4.3%=4.3/100=0.043. this per month equates to 0.043/12 months=0.0035833. this is what CapOne offers right now.
0.0035833*100000=358.33/moth earning interest. for 4 months 358.33*4=1433.33. you will also get 1500 bonus so total earned over 4 months (a bit more as interest is compounding) is 1433.33+1500=2933.33
2933.33/100000=0.02933 in percentage, this is 0.02933*100=2.933%
I have not found anyone being able to get 3 grand in 4 months for depositing 100K. of course, in the long run, you might earn more with higher interest CDs or other bank accounts, but this bonus is nice. at 5% per year, you will need to hold your money locked for 7 months to make that 3K on a 100k deposit, while with this you will also make more than 1K on top of the 3k if you keep the money in there for 7 months. I would say this is a win in my book.
+1

~3% for 4 months. That's what I came up with too. It's too bad some people don't even know how to figure out APY when there are calculators online just from simple googling. Yearly APY result from 4.3%. Divide that by 12 then add 4 months of holding requirement. Add the sign up bonus. Divide that by the initial deposit amount for just under 3% yield.

$50k deposit = ~$1482
$100k deposit = ~$2964
Reply
Joined Aug 2017
L3: Novice
> bubble2 285 Posts
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wantorneed
11-05-2023 at 07:40 PM.
11-05-2023 at 07:40 PM.
Quote from jmecherul :
i particularly dont pay any state tax, so.

the 1 year T-bill pays 5.29%, so that would be $5290 per 1 year on 100K. with this offer, 4.3%*100K=4300+1500=5800 (assuming the rates stay the same, could go lower or higher).

i am taxed the same. For someone with state tax, let's say, 10% you have to pay 580 in that year. so 5800-580=$5220. parking your money for $90 does not seem like all that enticing.

by the way, very few states that have tax rates higher than 10%.

so do your due diligence and see what works for your situation.
The flaw in this logic is that you assume you have to park your money for 1 year in the Cap 1 offer. For the Capital One offer, you can take your money out after 105 days.
Assuming $100K investment with 105 days in Cap 1 offer and 5.29% T-Bill for the rest of the year, this is what you will be getting:

First 105 days: 105/360 * 4,300 + 1,500 = $2,754.17
For the rest of 255 days: 255/360 * 5,290 = $3,747.08
Total gain for 1 year = $6,501.25 or $6,225.83 if you assume 10% state tax on the $2,754.17 gain.

That is $935.83(!) more than your 1 year T-Bill at 5.29%, not mere $90. Not a small change for many people. That is because technically you are getting ~10.3% APR for the first 105 days.
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Joined Apr 2009
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> bubble2 561 Posts
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1v1ech
11-05-2023 at 07:52 PM.
11-05-2023 at 07:52 PM.
omg I didn't see this FALL23 coupon. I opened one a few weeks ago... Can it still apply?
Reply
Joined Sep 2018
L3: Novice
> bubble2 108 Posts
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carrotkarot
11-05-2023 at 07:54 PM.
11-05-2023 at 07:54 PM.
Does anyone know exactly what is "external fund"? If I moved for example $6000 from Capital One checking to Fidelity last week, and say I'm going to move $100k for this offer, is that still consider external fund. I'm just afraid they will say I purposely moved money out of capital one and then back in to make it be external.
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Joined Dec 2020
New User
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msk2uU
11-05-2023 at 08:00 PM.
11-05-2023 at 08:00 PM.
Quote from newbharry :
transferred 100100$. Good deal. I just finished my discover 250 for 25k last week lol..

That was the best. $250 for 25k for just 30 days and existing customers... Still unbeatable ..

Any link to that deal?
Reply
Joined Dec 2009
L5: Journeyman
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disco_fever
11-05-2023 at 08:09 PM.
11-05-2023 at 08:09 PM.
Curious if anyone knows if a spouse can open a new account to take advantage of this offer. I am not on an existing capital one account created by my spouse to take advantage of an earlier offer. So this would be my first capital one account. The funds would come from another bank, but those funds were at one point in my spouses Capital one account.

Any ideas?
Reply
Last edited by disco_fever November 5, 2023 at 08:13 PM.

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Joined Dec 2009
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disco_fever
11-05-2023 at 08:10 PM.
11-05-2023 at 08:10 PM.
Duplicate
Reply
Last edited by disco_fever November 5, 2023 at 08:12 PM.
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