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Capital One Introduces InterestPlus Online Savings

December 17, 2009 at 4:07 PM EST
New Online Savings Account Helps Savers Reach Goals Faster with One of the Best Savings Rates in the Nation, Plus a Bonus!
MCLEAN, Va., Dec 17, 2009 (BUSINESS WIRE) -- Capital One Financial Corporation (NYSE: COF) today announced the addition of InterestPlus Online Savings (www.capitalonedirect.com/interestplus) to its selection of competitive, high-yield products offered by its Direct Banking business. InterestPlus Online Savings offers one of the best savings rates among the top national banks - currently 1.60% annual percentage yield (APY) on savings account balances of $2,500 or more. As an additional benefit, customers who maintain an average balance of $15,000 or more each month in their savings account or use a Capital One credit card at least once a month receive an extra 10% quarterly bonus on interest earned. The unique bonus feature offers a compelling reward for savvy savers, who ultimately get paid twice.

"Developing healthy savings habits is essential for reaching financial goals and building wealth," says Pam Girardo, spokesperson for Capital One Direct Banking. "By marrying a high interest rate - plus the opportunity for a 10% bonus - with secure and convenient access, InterestPlus Online Savings encourages customers to make responsible savings decisions and allows them to watch their money grow."

InterestPlus Online Savings is a no fee, FDIC insured savings account that customers can open online. Customers can access their account and receive customer service assistance both online and by telephone.

Features of InterestPlus Online Savings include:

  • One of the best savings rates among the top national banks (currently 1.60% APY on balances of $2,500 or more)
  • No fees
  • $2,500 minimum to earn interest
  • Keep an average balance of $15,000 or more each month in the account or use a Capital One credit card at least once a month to qualify for 10% quarterly bonus on interest earned (paid after the end of each quarter)
  • Free online transfers to and from existing external bank accounts
  • Free online transfers to and from Capital One Savings and Money Market accounts
  • Up to six withdrawals by online or wire transfer per calendar month
  • FDIC insured up to $250,000 per depositor, per ownership category through December 31, 2013
  • Easy online application

Capital One Direct Banking also continues to offer these highly competitive deposit products, all of which are FDIC-insured up to $250,000 per depositor, per ownership category through December 31, 2013:

  • Capital One High Yield Money Market Account: Customers get a great rate and enjoy easy access to their money with free checks, ATM card and online transfers. No monthly fees and no minimum balance requirements.
  • Capital One Rewards Money Market Account: Customers get a great rate and earn rewards for saving, with no monthly fees and no minimum balance requirements. Customers earn 2,500 bonus miles if they deposit $500 or more in the first month.
  • Capital One Certificates of Deposit: Customers get a great fixed rate backed by FDIC insurance (3.25% APY for a 5-year term, for example), with no fees to open or maintain the CD and convenient online access.

For more information about InterestPlus Online Savings, or any of the Capital One Direct Banking products, visit http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.capitalone.com%2Fdirectbanking&esheet=6123794&lan=en_US&anchor=www.capitalone.com%2Fdirectbanking&index=2&md5=c39b877ecc4f4b331b0694de71d61791.

About Capital One

Capital One Financial Corporation (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.capitalone.com&esheet=6123794&lan=en_US&anchor=www.capitalone.com&index=3&md5=8348d1e14bc154037c7e6893958ee119) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $114.5 billion in deposits and $209.7 billion in total managed assets outstanding as of September 30, 2009. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One Direct Banking offers great rates on a variety of money market accounts, savings accounts, certificates of deposit and business money market accounts nationwide. Customers enjoy convenient and secure access to their accounts and our service representatives via online, phone or mail channels.

SOURCE: Capital One Financial Corporation

Capital One
Pam Girardo, 703-720-2351
pam.girardo@capitalone.com