Update 4/4/24: Deal is back, I don’t see any end date. APY is now 4.35% instead of 4.3%
Update 11/29/23: Extended until 1/9/2024.
Offer at a glance
- Maximum bonus amount: $1,500
- Availability: Nationwide
- Direct Deposit required: None
- Additional Requirements: $20,000-$100,000 deposit
- APY:
4.35%APY4.25% APY - Hard/soft pull: Soft, as long as you opt out of overdraft protection
- ChexSystems: Mixed
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: 12/6/2023
Contents
The Offer
- Capital One is offering bonus of up to $1,000 when you open a 360 performance savings account with promo code BONUS1500. The bonus you receive depends on the amount you deposit within 15 days of account opening and you must maintain that balance for 90 days
- Deposit $20,000+ and get $300 bonus
- Deposit $50,000+ and get $750 bonus
- Deposit $100,000+ and get $1,500 bonus
The Fine Print
- 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.
- 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,
20212022, 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. - All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
There is no early account termination fee
Our Verdict
This account earns 4.3% APY, ends up being 10.4% APY over the bonus period once when you take into account the bonus but obviously only lasts for 90 days. Still worth doing for a lot of people and much better than the previous $1,000 bonus and better than other high interest savings rates. We will add this to our list of the best savings bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Is it best to pull or push into and than out of (after hold period) the account. Just opened and don’t want to get flagged sending $50k into the account at once. Source bank is SoFi.
Can I move the funds out of Cap One Savings account immediately after receiving the bonus and close the account after another month?
don’t move the funds until you’re 105+ days after opening, and don’t zero until after you’ve received the bonus. doesn’t seem to be an eatf
Yes, you can move the money as soon as you get the bonus…
Nate
I’d leave $1 in it until the interest for the month posts, and then zero it and close the following month.
PSA: 90 day hold period does not start until 15 days after account open, even if you fund it on day one. The hold is actually 105 days from open.
Just got a promotional email for this and there is still no end date.
APY is 3.8% as of 1/29/24. So the net return is down to about 9.8% APY for 90 days.
If this offer is still active, has the eligibility cutoff been updated to Jan 1 2023? “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 1,2022, you will be ineligible for the bonus”
fine print still showing Jan 1st, 2022 with a start date for the offer of April 3rd, 2024 on my end
I made two deposits and the second one triggered a security alert (new external bank).
The security was cleared but the transfer was place on extended hold time for 2 additional weeks, which puts it well past the 15 day funding period.
Do the deposits need to clear within the 15 day funding period or does initiating the transfer suffice?
If it shows on your ledger as credited (just with a hold before it can actually be used), you should be in the clear, even if it won’t be available until after the funding period.
10/04 – Opened
10/08 – $50k deposit
01/21 – $750 bonus posted
10/2 Account Opened with $20,001.00 Transfer
10/31 Monthly Interest Paid
11/07 Deposit from 360 Checking Account (checking promotion proceeds)
11/30 Monthly Interest Paid
12/31 Monthly Interest Paid
1/21 Cha-Ching! $300 New Account Bonus (MLK day 1/20), 111 days after initial account opening/deposit. (Late afternoon)
Some websites said this bonus offer expired Jan. 9. But when I click the link in the bonus offer email on Dec. 17, a banner at the top says BONUS1500 code is still active. Is the $1,500 bonus offer still valid as of Jan. 19?
The only dates I see on the offer page itself are 1/1/22 (cutoff for closing a prior savings account to be eligible for this bonus), and 4/3/24 (first day the bonus was offered)- I think as long as the page is still active you should be fine, but you can always call in or something to confirm before opening
burned by fine print again, I didn’t see the 15 day holding period doesn’t count in the 90 days holding period. bonus denied.
Same I fcked this up
Why would you pull out so fast? It’s an interest bearing account so the money is working in there anyway.
I needed the money for another bonus