Capital One 360: Up to $1,000 Savings Bonus

Capital One is offering a bonus up to $1,000 for opening a 360 Performance Savings account. Get a bonus of $100, $500, or $1,000 based on your total deposit amount. Full details of this Capital One promotion below.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Capital One 360 $1,000 Bonus Offer

Earn a bonus of $100, $500, or $1,000 based on how much you deposit in the first 15 days of account opening. You’ll also enjoy a high-yield savings rate of 3.40% APY.

Deposit(s)Bonus
$10,000$100
$50,000$500
$100,000$1,000

How To Earn Bonus:

  1. Open a Capital One 360 Performance Savings account using this link.
  2. Enter the promo code SPRING23 during registration.
  3. Deposit $10,000 or more of external funds within the first 15 days of account opening.
  4. Maintain the deposit(s) in your account for 90 days after the 15-day initial funding period.
  5. Receive a bonus within 60 days after completing all offer requirements.

Who qualifies for the Capital One 360 bonus?

You qualify for the bonus, unless you have or had a 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, 2020.

What are the details?

Availability: Nationwide
Expiration: 5/10/2023
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: None
Early Account Termination Fee: None

When will I get my bonus?

The offer states that the bonus will be paid within 60 days of maintaining the qualified deposit(s) for 90 days. Here’s when you can expect to receive your bonus based on when you opened your account:

Account OpenedBonus Paid By
March 2023September 12, 2023
April 2023October 12, 2023
May 2023November 12, 2023

Avoiding Fees

Fortunately, there are NO monthly fees to worry about and there’s no early account termination fees either.

Bonus Terms & Conditions

  • 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 $10,000, 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.

The Bottom Line

The deposit requirements are high for each bonus tier, but I think it’s worth it if you have the cash.

The bonus is essentially a 1% return for holding your cash for about three months. Plus, the account earns a 3.40% APY. That means the offer is effectively a 6.5% APY.

Let’s say you deposit $50,000 into Capital One for three months. You’d earn a $500 deposit bonus and $425 in interest based on the current rate of 3.40% APY for a total return of $925.

If you just stuck it in UFB Direct, a savings account that’s offering an industry best rate of 5.02% APY, you’d earn $732 in the same time period.

In my opinion, the difference of $193 is large enough to make doing this worthwhile. Unfortunately, I’m not eligible because I recently completed this promotion for existing customers.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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nana
nana
2 years ago

Hello

Is this list up to date as of today? Thank you!

jimmyorton
jimmyorton
3 years ago

wish i had enough cash to get the $1000

David Manriquez
David Manriquez
2 years ago
Reply to  jimmyorton

How much do I need to deposit to get $1,000 dollars

Susannah Fucile
Susannah Fucile
3 years ago

Thank god for the new version of this deal, I’m a long ways off of having enough money for the $1,000 bonus 🙂

Johnny
Johnny
3 years ago

Sweet bonus if I had that amount of moolah available. Might do the $200 version.