• To receive the top APY of 1.75%, all you need is a minimum deposit of $2,500

• No monthly fees

• It offers a 10% quarterly bonus on interest earned the previous quarter.

• To earn the bonus you are required to maintain a minimum average balance of $15,000 OR use a Capital One credit card at least once a month

Capital One Savings

The bonus will be paid to your InterestPlus Online Savings account within 4-8 weeks after the end of each quarter and will be reflected on your periodic statement

Compared to the original Costco product there aren’t too many differences. If you are a Costco member, you can receive up to $60 when you open your first Costc associated Capital One Direct account.  The one big difference we saw was the 0.05% increase to the APY for a new rate of 1.75%. The Costco product does require a $5,000 minimum balance and the overall rate has actually decreased from 1.85% since July.

The promotional pages associated with these offers are here for InterestPlus – Nationally Available, and here for InterestPlus – Costco Exclusive.

Capital One Direct Bank also has a standard Online Savings account with an APY of 1.60% with a minimum deposit of $10,000 – click here for more detail.