Capital One 360 CD (12 Month)

The Capital One 360 CD is the certificate arm of a full service national bank, which makes it unusual in this category. Marcus, Ally, Synchrony and Barclays are all branchless. Capital One has physical branches and cafes, so you can open a CD online and still walk into a building if something goes wrong. Terms run 6, 9, 12, 18, 24, 30, 36, 48 and 60 months, with no minimum deposit, no minimum balance and no monthly service charge. The 12 month term at 4.00% APY is the peak of the curve as of August 11, 2026. Everything else pays less: 9 months at 3.75%, 18 months and 60 months at 3.60%, 24, 30, 36 and 48 months all at 3.50%, and 6 months at just 3.30%. The 6 month rate is the weak spot, sitting 70 basis points below the 12 month and barely above the 3.00% paid by Capital One's own 360 Performance Savings account. If your horizon is under a year, the savings account is the better instrument here. Interest accrues daily using the daily balance method and is compounded and credited monthly. The early withdrawal penalty is simple: 3 months of interest on terms of 12 months or less, and 6 months of interest on anything longer. Partial withdrawals are not permitted, so an early exit closes the whole CD. At maturity you get a 10 day grace period to withdraw, renew or switch terms, and the CD auto renews at the prevailing rate if you do nothing. Two structural details matter. Balances are capped at $1,000,000 per CD, though you can open as many as 50 CDs at once, which makes laddering straightforward. And FDIC coverage now has a wrinkle: Capital One acquired Discover, and any Capital One or Discover Bank deposit accounts opened on or after May 18, 2025 are counted together when the FDIC calculates your $250,000 limit. If you hold money at both brands, check your combined exposure rather than assuming two separate buckets. This is a reasonable pick for savers who want a competitive one year rate from a large bank with branches, or who want to run a multi-rung ladder inside one login. Skip the 6 month term, which is not worth the lock-up. Skip the 24 to 48 month terms too, since paying 3.50% for four years when the 12 month pays 4.00% is a bad trade unless you are specifically buying insurance against falling rates. And if you already keep large balances at Discover, confirm your FDIC math before adding more here.