Looking for a great way to kick-start your savings account? There’s an easy way to get a $25 or $100 bonus when you sign up with Capital One. The bank offers several saving options with varying bonuses that can boost your savings. Read on to discover everything you need to know about the Capital One savings bonus.
There is a range of Capital One 360 joining bonuses, with the bonus varying depending on the account you sign up for. Getting your bonus is simple: you just need to click on the appropriate referral link. Note however that you will only receive the bonus if you are a new customer. Here are the joining bonuses on offer when you apply for a Capital One 360 product:
360 Savings: $25 bonus. The Capital One 360 Savings product is a simple saving account that you can open with no minimum balance required, enjoying 1% APY in interest from day one. There are no monthly fees on this account and you won’t be penalized if your account balance drops to zero.
360 Checking: $25 bonus. Whether you already have a checking account and want to switch, or even if this is your first checking account, check out the $25 bonus you get just for signing up with Capital One. Like the 360 Savings account, there are no monthly fees just for holding the account, and no minimum balance requirements.
360 Money Market: $100 bonus. If you have a larger amount of money to save, say over $10,000, consider opening a money market fund such as 360 Money Market. Capital One will give you a $100 bonus if you open a 360 Money Market account and you won’t be charged a monthly fee. Interest on large balances in the 360 Money Market account is higher than the rates on the 360 Checking account, you could earn up to 1.75% APY for balances $10,000 and over.
For every applicant that gets a bonus, there is a matching referrer. If you already bank with Capital One you can stand to earn a handy cash amount by referring friends and family for a Capital One 360 account, whether it is a savings account or a checking account. Enrolling in the referral program is simple.
To become a Capital One 360 referrer, you simply need to log in to your Capital One 360 account and go to the “Refer a Friend” section. Here you can generate a refer-a-friend link unique to your account. To enjoy ongoing referral bonuses of $20 per referral you simply need to provide your referral link to friends and family. Note that you can enjoy a maximum of $1,000 in referral bonuses per year.
We just explained how signing up for the Capital One 360 Savings Account can earn you $25 straight away. But signup bonuses alone are not reason enough to choose one bank over another. Let’s take a closer look at what you get when you sign up for a Capital One 360 Savings Account.
- New customers can enjoy a $25 joining bonus if they sign up via a referral link
- Interest of 1.00% APY on your entire balance
- Backed by FDIC insurance
- No minimum balance requirement to open the account
- No minimum ongoing balance required to keep the account
This is a solid set of account features which makes the Capital One 360 Savings Account a good deal for personal savings that you need ongoing access to.
The signing bonus on the Capital One 360 money market account is a chunky $100. If you sign up for a Capital One 360 money market account you can instantly boost your savings with $100. But what is a Capital One money market account, and how much do you need to invest to open an account?
Money market accounts are similar to savings accounts, but generally, offer better interest rates than an ordinary savings account. Money market accounts are targeted at individuals with larger savings to invest, and this is the case with the Capital One 360 money market account too.
With the Capital One 360 money market account you can get a very solid 1.85% APY on your savings if you invest more than $10,000. Balances below that hurdle still earn a respectable 0.85% APY. Here’s what else you can look forward to with a Capital One 360 money market account:
- Fully FDIC insured, so you can rest assured your money is safe
- Joining bonus of $100 for new customers
- Up to six withdrawals per month
- No minimum balance requirement
Clearly, the Capital One money market account is a good choice if you want to invest more than just a few hundred dollars, the high rate on offer for investments over $10,000 is particularly attractive.
With three generous bonuses on offer, it would be foolish to miss out on Capital One’s referral bonuses. If you have not switched banks recently it may be a good opportunity to reconsider your banking provider. Opening a checking account, savings account and money market account at Capital One can net you a total bonus of $150.
Once your Capital One accounts are set up you can refer your friends and family, netting up to $1,000 a year in referral bonuses. You might not get anywhere near the $1,000 on offer, but refer a few friends to Capital One and you could be well on your way to several hundred dollars in bonuses, a great way to top up your savings.