Capital One 360 Performance Savings Review (October 2026): 3.10% APY
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rate checked against capitalone.com on October 3, 2026 · Reviewed
Short answer
Capital One 360 Performance Savings pays 3.10% APY on all balances, effective October 3, 2026, with no monthly fee and no minimum to open or keep the account. The rate is variable and interest is compounded and credited monthly. Capital One's own 11-month 360 CD paid 4.30% APY the same day, so cash you can lock up for a year earns more there.
Savings account vs MYGA, after tax
What $100,000 earns in 5 years: savings account vs MYGA, after tax
Rates used: Savings account 4.00%, the top online savings rate we tracked (bank sites, September 24, 2026); savings rates can change any day; 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).
| Savings account, interest taxed every year | $116,604 |
|---|---|
| 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 savings account, after tax | $9,531 |
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.
360 Performance Savings at a glance
| Feature | 360 Performance Savings |
|---|---|
| APY | 3.10% on all balances (variable) |
| Minimum to open or maintain | $0 |
| Monthly service charge | None |
| Interest | Compounded and credited monthly |
| In-person service | Capital One branches and Capital One Cafes |
| FDIC | Capital One, N.A., cert 4297; $250,000 per depositor, per ownership category |
How 3.10% compares
| Option | Rate | Source / as of |
|---|---|---|
| Capital One 360 Performance Savings | 3.10% APY, variable | capitalone.com, effective 10/3/2026 |
| Capital One 360 11-month CD | 4.30% APY, fixed | capitalone.com, effective 10/3/2026 |
| Capital One 360 60-month CD | 3.60% APY, fixed | capitalone.com, effective 10/3/2026 |
| Synchrony High Yield Savings | 3.55% APY, variable | synchronybank.com, as of 10/03/2026 |
| Marcus by Goldman Sachs Online Savings | 3.50% APY, variable | marcus.com, as of October 3, 2026 |
| SoFi Savings (with direct deposit) | 3.30% APY, variable | sofi.com, rate current as of 9/23/2026 |
| American Express High Yield Savings | 3.10% APY, variable | americanexpress.com, as of 10/03/2026 |
| Ally Bank Savings | 3.10% APY, variable | ally.com, as of 10/03/2026 |
| A-rated-or-better 5-year MYGAs | ~5.50%-6.05%, fixed for the term | public carrier rate sheets, October 14, 2026 |
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
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Capital One 360 CD rates vs Performance Savings
If you do not need the money for 6 to 11 months, Capital One's 360 CDs at the same bank pay more than the savings account. The 11-month is the high point; longer terms pay less.
| Term | APY | Interest on $10,000 (Capital One estimate) |
|---|---|---|
| 360 Performance Savings | 3.10% (variable) | about $310 in a year if the rate held |
| 6 months | 3.30% | $82 |
| 9 months | 3.75% | $140 |
| 11 months | 4.30% | $197 |
| 12 months | 4.00% | $200 |
| 18 months | 3.60% | $272 |
| 24 to 48 months | 3.50% | $356 to $738 |
| 60 months | 3.60% | $967 |
More on the CDs in the Capital One 360 CD review.
Is there a Capital One 360 Performance Savings bonus?
The 360 Performance Savings page we read on October 3, 2026 advertised the 3.10% APY with no fees and no minimums and did not show a sign-up bonus. Capital One runs bonus offers from time to time with deposit and holding-period conditions; if you see one, read the terms for how long the money must stay and when the bonus is paid, and remember a bonus is taxable interest.
How do you get money out of 360 Performance Savings?
Transfer it to a linked Capital One checking account or an external bank account online or in the app; you can also set up recurring transfers. Capital One says limits on external deposits vary for fraud and security reasons, and in-person help is available at Capital One branches and Cafes, which offer self-service banking and ambassadors rather than full branch service.
From my desk: Hans Goldstein, licensed insurance producer (NPN 20602398)
Since Discover's deposits moved into Capital One, a lot of the savers I talk with have more money at Capital One, N.A. than they realize. Check the total across savings, CDs and old Discover accounts in each ownership category, because FDIC coverage is $250,000 per depositor, per ownership category at one bank, not per account.
Then I sort the money by when it is needed. Emergency money stays in 360 Performance Savings at 3.10%. Money for next year can earn 4.30% in the 11-month 360 CD (October 3, 2026). Money for three to five years is where I compare a MYGA.
Example ($250,000, 5 years, 24% federal bracket): if 3.10% held the whole time, savings would end near $280,900 after tax; a 5-year MYGA at 5.50% (public carrier rate sheets, October 14, 2026) ends near $308,300 after tax paid at the end. A MYGA rate is guaranteed by the issuing insurer and backed by its claims-paying ability, not the FDIC, and has surrender charges. See HYSA vs money market fund for the other cash option.
What we like
- No fees and no minimum.
- Branches and Cafes if you want a person, unlike most online savings accounts.
- Everything in one place: 360 Checking, 360 CDs and credit cards at the same bank.
- Same rate at every balance.
What to watch
- The rate is variable and can change at any time.
- Interest is taxed every year as ordinary income.
- Former Discover customers: Discover and Capital One deposits share one FDIC limit per ownership category at Capital One, N.A.
- Money parked a year or longer earns more in Capital One's 11-month CD (4.30%, October 3, 2026) or elsewhere.
360 Performance Savings vs. a 5-year MYGA
A savings account is the right home for emergency money. For money you will not need for three to five years, a multi-year guaranteed annuity fixes the rate for the term and defers the tax.
| $250,000 for 5 years | 360 Performance Savings | 5-yr MYGA at 5.50% |
|---|---|---|
| Rate | 3.10% APY, variable (assumed to hold all 5 years) | 5.50% fixed for the term |
| Tax on interest | Every year (1099-INT) | Deferred until withdrawn |
| Value after 5 years, after 24% federal tax | ~$280,900 | ~$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 money out | No penalty; the rate can change any day | Surrender charge above the free-withdrawal amount; IRS 10% penalty before 59½ |
About $27,400 more after tax on the MYGA if the savings rate never moved (24% federal bracket, state tax ignored). Savings rates are variable, so the real gap depends on where the rate goes. Emergency money belongs in savings; a MYGA is for money you will not need for the full term. 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.
Annuity vs CD · Current MYGA rates · HYSA or MYGA for 3-year money
Related: Capital One 360 CD rates · Ally savings review
360 Performance Savings: FAQ
What is the Capital One 360 Performance Savings rate?
3.10% APY on all account balances, effective October 3, 2026. The rate is variable and can change at any time before or after the account is opened.
Does 360 Performance Savings have fees or a minimum?
No. Capital One says the account has no monthly service charge and no minimum balance to open or maintain.
How is interest paid?
Interest is compounded and credited monthly.
Is Capital One 360 Performance Savings 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 Capital One, N.A. on May 18, 2025, so former Discover deposits count toward the same limit.
Is 3.10% a good savings rate?
It is in line with the big online banks: Amex and Ally paid 3.10% on October 3, 2026, Marcus 3.50% and Synchrony 3.55%. Capital One’s own 11-month CD paid 4.30% APY the same day.
Capital One savings or a MYGA for longer-term money?
For 3-to-5-year money, a MYGA usually pays more and fixes the rate: A-rated-or-better insurers paid roughly 5.50%-6.05% on 5-year MYGAs on October 14, 2026, tax-deferred.
Is Capital One 360 Performance Savings a high-yield savings account?
Yes. At 3.10% APY (October 3, 2026) it pays far more than the FDIC national average for savings, 0.37% APY as of September 21, 2026, and it has no fees or minimum.
My take
360 Performance Savings is a no-fee account at a bank with branches, paying 3.10% APY. Keep emergency cash here; move money you can lock for a year into the 11-month CD, and get a MYGA quote for three-to-five-year money.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Capital One. He does not sell or earn anything on bank accounts. Rates are copied from the sources named, with the as-of date each source prints; savings rates are variable, so confirm the current rate before opening. MYGA figures are illustrations, not quotes.
Run the MYGA vs savings math for your situation
Talk to Hans Goldstein, a licensed independent insurance producer.
360 Performance Savings pays 3.10% APY, variable (effective September 24, 2026). A-rated 5-year MYGAs were paying about 5.50%-6.05% on October 14, 2026, fixed for the term and 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 product materials and rates as of the dates stated above. HYSA APYs are variable and change frequently. Confirm current values directly with the bank before opening an account. FDIC insurance covers up to $250,000 per depositor, per insured bank, per ownership category. MYGA rates referenced are illustrations dated September 24, 2026 and depend on state, carrier appointment, and product approval; not all MYGAs are available in every state. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers across the annuity market; Hans is not a banking representative and does not earn compensation on HYSA or CD products. Tax discussion reflects federal law as of 2026 and is subject to change. State tax treatment varies. Always read the actual bank disclosure and consult a licensed advisor or CPA before reallocating retirement-bound funds.