Capital One Savings Bonus – Up To $500

Capital One Bank sign on a building

A new Capital One savings bonus is available! This time, it’s between $100 to $500 depending on how much you deposit into a new Capital One 360 Performance Savings account.

Where do I enroll?

Direct Link

Ninja Update: Promotion has been extended through May 31 with promo code SCORE500.

Landing page Capital One savings bonus of up to $500

Related:

Who qualifies for the Capital One savings bonus?

You qualify for the bonus, unless you have or had an open savings and/or money market account as a primary or secondary account holder (excludes CDs) with Capital One on or after January 1, 2016.

What are the details?

Availability: Nationwide
Expiration: 05/31/2020
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: None
Hard/Soft Pull: Soft (as long as you opt out of overdraft protection)
Early Account Termination Fee: None

Capital One is offering a savings bonus of up to $500 when you open a new 360 Performance Savings account by following these 3 steps:

  1. Open a new 360 Performance Savings account by March 31, 2020, using promo code NEW500.
  2. Deposit $10,000–$50,000 or more of new money within 10 days of account opening (Initial Funding Period).
  3. Maintain the required daily balance within a bonus tier for 90 days following the Initial Funding Period, and earn $100 for every $10,000 maintained (up to $500).

Capital One’s 360 Performance Savings account also has a pretty good interest rate (currently 1.70% APY). Here’s a chart on the interest and cash bonus you’ll earn by the different deposit levels:

Capital One savings bonus by deposit amount

Avoiding Fees

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

Capital One Savings Bonus Terms & Conditions:

Here’s the fine print:

  • Open a 360 Performance Savings account up until 11:59 p.m. ET on May 31, 2020. When you open your account, enter your promotional code—SCORE500. If you have or had an open savings and/or money market account, excluding CDs, as a primary or secondary holder with Capital One on or after January 1, 2016, you’re ineligible for the bonus. This account is subject to approval.
  • Deposit a total of $10,000-$50,000 or more of new money from an external bank (transfers between Capital One accounts will not qualify) within the first 10 days of account opening (Initial Funding Period). You will earn a bonus once you’ve maintained a daily balance of $10,000 or more for 90 days following the Initial Funding Period. Your bonus will be calculated as follows: an account with a daily balance between $10,000-$19,999.99 will earn $100; $20,000-$29,999.99 will earn $200; $30,000-$39,999.99 will earn $300, $40,000-$49,999.99 will earn $400; balances of $50,000 or more will earn $500. If at any time during the 90 days following the Initial Funding Period your daily balances drop into a lower balance tier, you will be rewarded that tier’s cash bonus. If your daily balance decreases to an amount less than $10,000, you will not qualify for a cash bonus.
  • This offer cannot be combined with any other Capital One 360 new savings account opening offer, including savings accounts opened through Refer A Friend. Only one promotional code is accepted. Bonus is only valid for one account.
  • Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.

The Bottom Line

This is a similar bonus to what Capital One offered at the end of last year, but the requirements here are much more flexible.

The previous one had a bonus of either $200 for depositing $10,000 to $149,999 or a $1,000 bonus for depositing $150,000+. This one offers 5 different levels of bonuses providing a little more wiggle room in your choice.

Overall, this Capital One savings bonus is another great way to get free money for signing up for bank accounts. Enjoy!

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