Capital One 360 Performance Savings Account Review
By: Conor Keenan | Last updated: March 25, 2026
Conor Keenan, AWMA®, is the Co-Founder of CompareAccounts. An Accredited Wealth Management Advisor with over a decade of experience covering consumer banking and investing trends, his work has appeared in The Wall Street Journal, Reuters, and Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
Want to see how it stacks up? You can explore high-yield savings rates side by side to see if this account fits your broader financial plan.
Key Takeaways
- The Capital One 360 Performance Savings Account earns a highly competitive APY on all balances.
- There are no monthly maintenance fees and no minimum opening deposit rules.
- The savings buckets feature lets you open up to 30 named sub-accounts for specific goals.
- This account is ideal for goal-oriented savers and existing Capital One customers.
- Drawbacks include monthly compounding interest and no direct ATM card access.
What Savings Accounts Does Capital One Offer?
Capital One’s main savings option is the 360 Performance Savings Account. It is a fee-free, high-yield account made for online savers. You earn a top-tier APY on every dollar. There are no balance tiers. A balance of just $0.01 qualifies for the full rate.
Interest compounds monthly. The account is FDIC-insured up to $250,000 per depositor. Did you open your account on or after May 18, 2025? If so, your FDIC coverage is shared between Capital One and Discover Bank. This is due to Capital One’s 2025 purchase of Discover Financial. Check your total balances if you bank at both places to ensure you stay fully covered.
Additionally, Capital One reached a $425 million settlement in January 2026. This covered older legacy 360 Savings customers from 2019 to 2025. It fixed a gap in interest rates between old and new account types. Going forward, Capital One pays the same high rate to all 360 savers.
What Are the Key Features of Capital One 360 Performance Savings?
The Capital One 360 Performance Savings Account includes great tools for reaching your financial goals.
- No fees and no minimums: You pay $0 in monthly fees. You need $0 to open the account. You do not need a minimum balance to earn the top APY.
- Competitive APY on all balances: Capital One pays a highly competitive APY on your entire balance. Small savers get the same great rate as large depositors. The rate is variable and subject to change.
- Savings buckets: You can open up to 30 separate savings buckets under one login. You can name them for specific goals, like an emergency fund or a vacation. Transfers between buckets are fast and free.
- AutoSave plans: You can set up automatic transfers from a linked checking account. You can move money weekly, biweekly, or monthly.
- Top-rated app: Capital One’s mobile app is highly rated. It offers mobile check deposits and access to the Eno® virtual assistant.
- Branch and Café access: Capital One has about 750 physical branches and over 60 Cafés. This gives you in-person help that purely online banks lack. Phone support is also available daily from 8 a.m. to 11 p.m. ET.
What Are the Pros and Cons of Capital One 360 Performance Savings?
The Capital One 360 Performance Savings Account offers a strong overall package, but it does have trade-offs. Here is a balanced look at both sides.
Pros
- Truly fee-free structure: No monthly fees and no minimum balance penalties make this a very clean savings product.
- Buckets feature for goal organization: Up to 30 named sub-accounts let you separate your money by purpose without using multiple banks.
- Solid hybrid banking experience: Physical branches and Cafés provide in-person support alongside a great digital platform.
- FDIC insured at a major bank: Capital One is one of the ten largest U.S. banks, making it a highly secure place to store your cash.
- Instant internal transfers: Moving money between Capital One accounts is immediate.
Cons
- APY not always the highest: Rates are strong, but dedicated online banks sometimes pay slightly more.
- Monthly compounding: Interest compounds monthly instead of daily. This slows growth slightly over time.
- No direct debit card: You cannot use an ATM without linking a Capital One 360 Checking account.
- Cash deposit limits: Cash deposits at partner retail stores are capped at $5,000 per month.
What APY Does Capital One Pay on Savings?
Capital One currently pays a top-tier APY on its 360 Performance Savings Account. This rate sits well above the national average. Every dollar earns this rate, with no hidden requirements to qualify.
The bank calculates interest using your daily balance, but it pays the interest out monthly. The rate is variable and moves based on Federal Reserve policy. You should periodically check the CompareAccounts.com high-yield savings comparison to confirm Capital One remains competitive.
What Are the Fees for Capital One 360 Performance Savings?
The account is fee-free for almost all regular use. Here is the full breakdown:
- Monthly maintenance fee: $0.
- Minimum opening deposit: $0. You just need to deposit $0.01 within 60 days to keep the account active.
- Minimum balance to earn APY: $0. All balances earn the full rate.
- Overdraft fees: $0. The savings account does not allow overdrafts.
- Outgoing wire fee: $30 per domestic wire.
- ATM fees: $0 at 70,000+ ATMs, but only if you link a Capital One 360 Checking account.
How Do You Open a Capital One 360 Performance Savings Account?
Opening an account takes about five minutes online or in the mobile app. You can also open one at a Capital One branch.
Eligibility requirements: You must be at least 18 years old and a U.S. citizen or permanent resident. You need a valid U.S. address and phone number.
Information needed to apply:
- Full legal name and date of birth
- Current U.S. home address
- Email address and phone number
- Social Security Number or ITIN
- Employment and income details
Capital One does not use ChexSystems for savings applications. This means past banking issues will not automatically disqualify you. The bank only does a soft credit pull to verify your identity. Once approved, you must fund the account within 60 days.
Who Should Open a Capital One 360 Performance Savings Account?
This account is a strong fit for several types of savers.
- Goal-oriented savers: The 30 savings buckets make it incredibly easy to track multiple goals, like a new car or a wedding.
- Existing Capital One customers: If you already have a Capital One credit card or checking account, linking this savings account is simple and fast.
- Savers who want a branch option: The Cafés and branches offer in-person help when you need it.
- First-time savers: The $0 minimum makes it easy to start saving today without any pressure.
Who Might Want to Look Elsewhere?
While this account is great, it is not perfect for everyone.
- Maximum-rate seekers: If you only care about the absolute highest APY, check out purely online banks. Comparing current high-yield savings rates is always smart.
- Heavy cash depositors: Cash deposits at partner stores are capped at $5,000 per month. A traditional local bank might be better if you handle a lot of cash.
- Savers who want daily compounding: Accounts that compound interest daily will pay out slightly more money over time.
How Does Capital One 360 Performance Savings Compare?
Capital One offers a great rate, but rate is only one part of the story. The Capital One APY is well above the national average. However, some online-only platforms occasionally offer slightly higher rates. For savers focused purely on yield, visiting the full savings account comparison hub is a good next step.
Where Capital One truly wins is with its features. The savings buckets system, the great mobile app, and physical branch access make it a top-tier choice. If you want a mix of high rates and high convenience, Capital One is hard to beat. If you only want the highest rate, you might want to look at Ally Bank or Marcus by Goldman Sachs.
Is Capital One 360 Performance Savings Worth It? Bottom Line
Yes, the Capital One 360 Performance Savings Account is highly recommended. It is a well-rounded, fee-free account that suits almost all savers. It pays a highly competitive APY, and the lack of fees makes it incredibly easy to use.
The buckets feature adds real value that few competitors offer. Plus, having access to physical branches alongside a top-rated app provides the best of both worlds. It may not be perfect for absolute rate-chasers or heavy cash users. But for most people, it is a fantastic choice. Checking alternatives at this savings page before you sign up is always a smart final step.
Frequently Asked Questions
What is the current APY on the Capital One 360 Performance Savings Account?
The Capital One 360 Performance Savings Account earns a highly competitive APY on all balances. There are no minimum balance limits and no tiered rates. Because the rate is variable, it can change based on the broader market. You can check the current rate on Capital One’s website or by using our rate tracker.
Is the Capital One 360 Performance Savings Account FDIC insured?
Yes, your money is FDIC insured up to $250,000 per depositor. Note that accounts opened on or after May 18, 2025, share this coverage limit with any Discover Bank accounts you own, due to Capital One’s recent merger with Discover.
Does Capital One charge any fees on the 360 Performance Savings Account?
No. Capital One charges zero monthly maintenance fees. There is no minimum balance required to keep the account open or to earn interest. The only common fee is a $30 charge for outgoing domestic wire transfers.
What is the Capital One savings buckets feature?
The savings buckets feature lets you create up to 30 separate sub-accounts under one main login. You can name each bucket for a specific goal, like an Emergency Fund or Vacation. This makes it easy to track your progress without opening accounts at multiple banks.
Customers Also Viewed These High Yield Savings Accounts:
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Annual Percentage Yield (APY)
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SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 4.00% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms applyⓘ.
The current savings APY without direct deposit or $5,000+ in qualifying deposits during the 31-day evaluation period is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit or depositing $5,000+, you should look at the other offers on this list.
Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure. Earn a $50 or $400 bonus with direct deposit, terms apply.
Limited Time Offer: New account holders earn +0.70% boost to 4.00% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
1. Up to $400 Bonus Tiered Disclosure
Up to $400 Bonus Tiered Disclosure New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25 There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings
account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member
FDIC.
Bonus Offer
3.95% APY
On Centier Bank's Secure Site
Powered by Raisin, Member FDIC
Best For: Earning a Cash Welcome Bonus
Founded in 1895, Centier Bank is an independent, family-owned community bank that has served Indiana residents and businesses for well over a century.
Centier Bank focuses on relationship-driven banking built around trust and personal service, and currently offers a 3.95% APY on their high-yield savings account through the Raisin Platform.
This base APY is substantially higher than what you’ll find at most brick-and-mortar banks and most online banks.
In addition to this high APY, Centier Bank offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.
By partnering with Raisin, Centier Bank is able to extend its hometown warmth and modern financial tools beyond its dozens of Indiana branch locations to help savers nationwide earn more.
Depositing $10,000 or more? New customers can get between a $70 to $1,500 cash bonus depending on deposit size. Use code FRESHSTART.
Significantly boost your effective yield for the first 90 days with this cash offer.
See Raisin's Secure Site for Centier Bank For More Details.
Annual Percentage Yield (APY)
3.75% APY
On CIT Bank®'s Secure Site,
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Best For: $5,000+ Balances
CIT Bank ranked #1 in the nation for humanizing the customer experience in a recent survey conducted by American Banker of more than 5,000 consumers covering 50 financial institutions.
CIT Bank has been helping customers for over 100 years. Founded in 1908, CIT Bank is now part of First Citizens BancShares, Inc.
CIT Bank offers 3.75% APY1 on their Platinum Savings account with no monthly fees. Minimum Balance for this APY is $5,000.
You can open a CIT Bank platinum savings account in as little as 5 minutes to complete the sign-up process.
Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily. Terms Applyⓘ
See CIT Bank's Secure Site For More Details.
Platinum Savings Account Disclosure
1 Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
For complete list of account details and fees, see our Personal Account disclosures.” (link:https://cit-fcb-t.cit.com/cit-bank/resources/forms)
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
SoFi® Checking and Savings: 4.00% APY & Earn up to $400 with qualifying activities
Centier Bank High Yield Savings Account: 3.95% APY
CIT Bank® Platinum Savings Account: 3.75% APY
Frequently Asked Questions
Does Capital One use ChexSystems for savings account applications?
Capital One does not rely on ChexSystems reports when reviewing 360 Performance Savings Account applications. This makes the account accessible to applicants who have had overdraft issues or account closures in the past that might appear on a ChexSystems report. However, Capital One may pull a credit report — usually a soft inquiry — as part of its identity verification process, so applicants should be aware that some credit inquiry activity is possible.
How does the buckets feature work?
Capital One allows customers to open up to 30 360 Performance Savings accounts — all visible under a single login — and nickname each one for a specific savings goal. For example, a customer might maintain one bucket labeled “Emergency Fund,” another labeled “Vacation 2026,” and a third labeled “Home Down Payment.” Each bucket earns the same high APY, and funds can be transferred between buckets instantly at no cost.
What happened to deposit insurance after the Discover acquisition?
Capital One completed its acquisition of Discover Financial in May 2025. For customers who hold accounts at both Capital One and Discover Bank, deposit insurance is now calculated on a combined basis. The FDIC’s $250,000 per-depositor, per-ownership-category limit applies across both institutions together for accounts opened after May 18, 2025. Customers with significant balances at both banks should review their combined totals to confirm they remain fully within FDIC insurance limits.
Is there a penalty for withdrawing money from the account?
There is no penalty fee for withdrawing funds from the 360 Performance Savings Account. Capital One no longer enforces the six-withdrawal-per-month limit that was once standard under federal Regulation D (which the Fed relaxed in 2020). However, the bank reserves the right to apply flexible limits on ACH transfers based on account risk assessment, and external transfers still take two to three business days to process. For urgent fund access, linking a Capital One 360 Checking account provides immediate access through debit card and ATM transactions.
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