Capital One Bank Reviews, Rates: CDs, Savings, Money Market, Mortgages
Capital One may have a short history but it has a big fan base. This well-known bank is said to have over 1,000 banks issued nationwide. This clever bank is well-known for its credit card but is also slowly working its way into the heart of several other financial services. Since this bank was founded in 1988, it is has seen its share of failures and success, but still continues to be one of the leading financial institutions in the United States.
Although in 2008 this bank had a huge set-back, it regained its composure in 2009 and has not looked back since. Since creating such a large credit card company, Capital One has moved onto other business ventures. This company also created a successful auto loan company that skyrocketed and became a top leader in the auto lending industry. Capital One is highly known for contributing to society but especially to sporting teams.
Review: Capital One Services
Business Services: There is a huge need for loans in the business world and Capital One has that area covered. They have a whole department dedicated to providing their customers with business loan services. A company can rely on a Capital One credit card to deliver their financial responsibilities or dive into a money market account.
Banking: Capital One provides their customers with high end customer service and banking resolutions. Checking accounts are very popular with this bank because of their many selections. A customer can use paper checks, online bill pay, and a money card all for no fees. Capital One is a bank that offers their personal checking customers a high promotional rate to get their investments as large as possible. ATMs are located everywhere and they charge no fees for using them. They will even credit your account after another ATM has charged you a fee. There is also no minimum balance requirement and no checking fees associated with Capital one.
Capital One states theirCDs are a good way to save because there are no monthly fees associated with the CD term, able to lock in your rate for the life of your CD and having the peace of mind that your money is secure with one of the country’s largest deposit institutions. The CDs they offer have a fixed rate, guaranteed returns, are FDIC insured and you choose how to reinvest the interest.
A minimum deposit of $5,000 is needed to open a CD through Capital One.
Capital One: CD Rates as of 7/20/11
- 6 month – 0.25% APY
- 1 year – 0.30% APY
- 18 month – 0.40% APY
- 2 year – 0.65% APY
- 30 month – 0.65% APY
- 3 year – 1.01% APY
- 4 year – 1.25% APY
- 5 year – 1.75% APY
- 7 year – 2.30% APY
- 10 year – 3.00% APY
Terms & Conditions: A substantial penalty may be imposed for early withdrawal; this fee could reduce earnings. Rates may change at any time.
Capital One offers an InterestPlus Online Savings Account that allows you to “get paid twice.” When you have an average balance over $10,000, or have an active Capital One credit, you will receive quarterly bonuses based on the interested earn with the average balance. There are no fees with this savings account and you have the potential of earning three times more on your savings account. This savings account can be opened with $1. Capital One offers easy online transfers, FDIC security, and electronic statements.
Capital One: InterestPlus Online Savings – as of 7/20/11
- $0.01 – $999.99 – 0.10% APY
- $1,000 and more – 1.10% APY
Capital One Bank offer aHigh Yield Money Market Account, Rewards Money Market, and Business Money Market that is easily accessible with free checks, an ATM card and easy online transfers. The minimum opening deposit is $1 and no minimum balance is required. Withdrawals by online transfer and check are limited to a combined six per calendar month.
Capital One offers advanced online security and uses the highest levels of online security to protect your information. More information about their online security can be found here.
Capital One: High Yield Money Market Account Rate – as of 7/20/11
- $0.01 and more – 0.75% APY
Capital One: Rewards Money Market Account Rate – as of 7/20/11
- $0.01 and more – 0.75% APY
Capital One: Business Money Market Account Rate – as of 7/20/11
- $0.01 and more – 0.70% APY
Terms & Conditions: Rates are variable and may change at any time.
Capital One is committed to helping you purchase or refinance your home with ease and comfortably. They offer a variety of mortgage products and guarantee no surprises. They carry loan amounts up to $2 million, fixed rate and adjustable rate loans, interest-only options, and low down payments. The loan consultants will be there every step of the way, supporting you and answering the tough questions.
At this time, Capital One Bank is updating their online presentations of their popular rates and products but to learn more about home loan options and rates, or to get a rate customized to your situation, please call 866-923-4954.
Capital One Home Purchase:
Capital One: Fixed Rate Mortgage Loans
- Loan options: Conforming Fixed Rate Loans
- Features: Stability of a fixed principal/interest payment over the life of the loan, down payments as low as 5%
- Various options available for length of loan
Capital One: Adjustable Rate Mortgage Loans
- Loan options: 5/1 ARM
- Features: Lower initial monthly payments, interest rate is fixed for the first 5 years of the loan term, then may adjust annually
Capital One: Interest-only Mortgage Loans
- Features: Lower initial monthly payments, earn a higher income in a few years, available as a fixed or adjustable rate, interest-only payments up to first 10 years of the loan
Capital One: FHA/VA Mortgage Loans
- Features: Low down payment options, flexible lending guidelines, fixed rate loan
- Capital One Refinance:
Capital One: Cash-out Refinance
- Definition: A refinance transaction in which the borrower receives cash that may be used for any purpose.
- Features: Taking the cash difference when used to refinance your entire first mortgage when simultaneously taking out a larger loan amount
Capital One: Home Affordable Refinance
- Definition: A refinance program that enables eligible homeowners who are current on their mortgages to take advantage of today’s low interest rates even if their homes have declined in value.
- Features: Fixed rate for the life of the loan, up to 125% loan-to-value, and from 15- to 40-year terms