![]() Want another savings product, or lower-risk investment, besides your CD? Consider these alternatives. It has a robust variety of financial products, from checking and saving accounts to credit cards and auto loans. Perhaps best known for its funny credit card ads, Capital One is a full-service, national bank with over $390 billion in total assets, making it the tenth largest bank in the nation. ![]() You’ll have to provide personal details including your name, date of birth, email, residential address and government identification number, such as your Social Security number or Taxpayer Identification number. If you don’t already have a Capital One account, you’ll have to create one, which is normally a simple process. For current Capital One customers, all the information you need is your password and login. In all likelihood, you won’t need to submit documents, but you will need to provide some information. (Later, if you have more cash you’d like to invest, you can open another CD.) There’s no minimum balance, so you could open one with whatever funds you have. You can only add money to a Capital One 360 CD one time. ![]() To finish opening the CD, put money in it. The other account can either be in-house (a Capital One checking account, for example) or external (at another institution). Rather, you must do an electronic transfer and the first step is to link another account. Because Capital One 360 is the online arm of the bank, you can’t go to a branch and make a cash deposit to fund your CD. When would you like to receive the interest that your deposit earns? You could choose to get it each month, each year or once at the end of the CD term. While you can make early withdrawals, you’ll pay an early withdrawal penalty that’ll cost you three-to-six months worth of interest. As you look, consider whether the term you want is right for your overall financial plan. Capital One offers CDs with terms ranging from six to 60 months. This applies to anyone who has a Capital One checking or savings account, credit card, active home loan or active car loan. If you’re a current Capital One customer, you can login and have part of the CD application filled in for you. New customers will need to fill in some information by hand, including name and address.
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