Capital One 360 CD Review (September 2026): 4.30% 11-Month Special, 3.50%-3.60% Long Terms
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rates checked against capitalone.com on September 24, 2026 · Updated
Capital One 360's best CD rate is the 11-month special at 4.30% APY, followed by the 12-month at 4.00%, as of September 24, 2026. Every term from 18 to 60 months pays 3.50% to 3.60%. There is no minimum deposit, the penalty is 3 or 6 months of interest, and partial withdrawals are not allowed. Since the Discover merger, discover.com's CD page redirects here.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Capital One 360 CD rates today
| Term | APY | Interest on $10,000 (Capital One's calculator) |
|---|---|---|
| 6 months | 3.30% | $82 |
| 9 months | 3.75% | $140 |
| 11 months (special) | 4.30% | $197 |
| 12 months | 4.00% | $200 |
| 18 months | 3.60% | $272 |
| 24 months | 3.50% | $356 |
| 30 months | 3.50% | $449 |
| 36 months | 3.50% | $544 |
| 48 months | 3.50% | $738 |
| 60 months | 3.60% | $967 |
What stands out
- Inverted curve. The 11-month (4.30%) and 12-month (4.00%) pay more than every longer term. Capital One is not paying you to lock up money.
- $0 minimum and no fees; interest accrues daily and compounds monthly.
- Penalty: 3 months of interest (12 months or less), 6 months (longer). No partial withdrawals: breaking the CD means closing it.
- Branches and Cafés if you want a person, unlike most online-only banks.
- FDIC: Capital One, N.A., cert 4297. Former Discover balances share the same $250,000 limit per ownership category.
Rates expire like milk.
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How the 60-month compares
| 5-year option | APY | As of |
|---|---|---|
| Capital One 360 60-month CD | 3.60% | Sept 24, 2026 |
| Navy Federal 5-year ($1K / $100K+) | 3.85% / 3.90% | Sept 24, 2026 |
| Best nationally available 5-year CDs | 4.35%-4.50% | Sept 24, 2026 |
| A-rated-or-better 5-year MYGAs | ~5.50%-6.05% | October 14, 2026 |
Who Capital One 360 CDs fit
- Money needed within a year: the 11-month at 4.30% is the pick on this sheet.
- Existing Capital One or former Discover customers who want everything at one bank.
- Savers who want a branch option with online rates.
Less of a fit: 3-to-5-year money. At 3.50% to 3.60%, taxed every year, the long end trails both the best CDs and fixed annuities.
Capital One 60-month CD vs. a 5-year MYGA
| $250,000 for 5 years | Capital One 60-month CD | 5-yr MYGA at 5.50% |
|---|---|---|
| Rate | 3.60% APY | 5.50% (fixed for the term) |
| Tax on interest | Every year (1099-INT) | Deferred until withdrawn |
| Value after 5 years, after 24% federal tax | ~$286,100 | ~$308,300 (tax paid at the end) |
| Protection | FDIC, $250K per ownership category | Insurer claims-paying ability + state guaranty association (limits vary by state) |
| Getting out early | Interest penalty | Surrender charge above the free-withdrawal amount; IRS 10% penalty before 59½ |
About $22,200 more after tax on the MYGA (24% federal bracket, state tax ignored). Fixed annuity benchmark: carriers rated A or better topped out around 5.50% to 6.05% on 5-year compound-interest MYGAs, per public carrier rate sheets, October 14, 2026. Rates vary by state, premium and carrier.
Related: Discover CD rates (now Capital One) · Capital One 5-year CD rate · best 5-year CD rates
Capital One 360 CDs: FAQ
What are Capital One 360 CD rates today?
As of September 24, 2026: 6 months 3.30% APY, 9 months 3.75%, 11-month special 4.30%, 12 months 4.00%, 18 months 3.60%, 24-48 months 3.50%, and 60 months 3.60%. No minimum deposit.
What is the Capital One 360 CD early withdrawal penalty?
3 months of interest on CDs of 12 months or less, and 6 months of interest on longer CDs. Partial withdrawals are not allowed; there is a 10-day grace period at maturity.
Are Capital One 360 CDs FDIC insured?
Yes. Capital One, National Association (FDIC cert 4297) is FDIC-insured up to $250,000 per depositor, per ownership category. Discover Bank merged into it on May 18, 2025, so former Discover deposits count toward the same limit.
Does Capital One have a 5-year CD?
Yes, the 60-month 360 CD, paying 3.60% APY as of September 24, 2026. It is the longest term Capital One offers.
Is Capital One's 11-month CD worth it?
It is the best rate on Capital One's sheet: 4.30% APY, higher than every longer term. For money needed within a year it is a strong insured option; the rate is a limited-time offer.
Capital One 5-year CD or a 5-year MYGA?
For five-year money you will not touch, a MYGA usually pays more: roughly 5.50%-6.05% from A-rated-or-better insurers on October 14, 2026 versus 3.60% on the 60-month CD, with tax deferral. On $250,000 (24% federal bracket) that is about $22,200 more after tax.
Cash you may need sooner fits 360 Performance Savings at 3.10% (October 3, 2026).
My take
Capital One 360 is a clean, no-minimum CD platform whose value is at the short end: 4.30% for 11 months. Its 18-to-60-month CDs at 3.50% to 3.60% are below the market; for multi-year money, compare the best CDs and a MYGA quote before locking in.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Capital One. Rates are copied from the sources named, as of the date shown; confirm the current rate before opening. MYGA figures are illustrations, not quotes.
Capital One CD maturing? Compare a MYGA first
Talk to Hans Goldstein, a licensed independent insurance producer.
Capital One's 18-60 month CDs pay 3.50%-3.60% APY, taxed every year. A-rated 5-year MYGAs were paying about 5.50%-6.05% on October 14, 2026, tax-deferred.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review reflects publicly available Capital One rate sheets and FDIC filings as of the date stated above. CD APYs change frequently, sometimes weekly. Always confirm current rates at capitalone.com before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific bank or insurance product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; Hans is not a bank employee, not affiliated with Capital One, and receives no compensation from any bank for this review. Comparisons between CDs and MYGAs reflect representative rates as of the dates shown on this page and are illustrative. Your individual rate, tax situation, and suitability will vary. Always read the actual CD disclosure or annuity contract and consult a licensed advisor before purchasing. FDIC coverage is subject to current FDIC rules and the $250,000 per-depositor, per-bank, per-ownership-category limit. State guaranty association coverage on annuities varies by state. Tax treatment is subject to change.