October 8th, 2009

Capital One Direct Raises Their CD Rates

Capital One Direct has posted some big increases in its longer term CDs today, including the biggest jump, from 1.50% to 2.95% in its 48 month term CD. Other term CD that experienced a rate increase were the 18 to 36 month CDs, as well as the 84 month CD.

This increased rate makes Capital One Direct competitive with other top long term CD rates from banks such as Ally, which also offers a 48 month CD with 2.95% APY, and even larger banks like Bank of America or ING Direct, which offer 48 month APYs of 2.75% and 1.75%, respectively.

These new Capital One Direct rates are subject to change, but are locked for 10 calendar days at time of account opening to allow you time to fund your CD. If the bank receives your funds within 10 calendar days of the day you opened your account, you will receive the rates that were posted on your application date. Accounts funded after the 10 day period will receive the rate effective at the time of funding.

About the banks

Capital One

Headquartered in McLean, Virginia, Capital One® offers a broad array of financial products and services to consumers, small businesses and commercial clients in the U.S., Canada and the UK.

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Ally

Banking starts over here and now. Built on the foundation of GMAC, Ally is an online bank with no monthly fees, no minimum balances and no minimum deposits. Our rates are always among the most competitive and we offer live 24/7 Customer Care Support. Member FDIC.

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ING Direct

ING DIRECT, the nation's largest direct bank and largest thrift, is dedicated to inspiring Americans to become a nation of savers. Since its inception in 2000, more than 7.5 million Americans have entrusted their savings with ING DIRECT. ING DIrect offers- Electric Orange, an easy-to-use paperless checking account that also pays a great interest rate. The Orange Savings Account lets you save with no fees, no minimums and a great rate. The Orange Mortgage has low closing costs, a simple application.