Capital One 360 Savings Promotion (earn up to a $500 bonus)

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My favorite financial institution, Capital One 360, is offering another promotion. This time it’s on a 360 Savings Account, and for a limited time only, you can earn up to a $500 bonus.

Here’s how it works:

  • Open your first 360 Savings Account from 12 am EST on 5/20/2015 to 11:59 pm EST on 7/31/2015.
  • Fund your savings account within 10 days of opening your account.
  • The amount of the bonus you’ll receive is going to be determined on the highest amount you deposit and maintain on a daily basis for the next 90 days following the initial 10 day opening period.
  • The minimum deposit amount to qualify for any bonus is $5,000. The bonus balance tiers are as follows: $5,000+ earns a $50 bonus, $10,000+ earns a $100 bonus; $20,000+ earns a $200 bonus; $30,000+ earns a $300 bonus; $40,000+ earns a $400 bonus; and $50,000 or more earns a $500 bonus. The maximum bonus you can earn is $500.
  • You will receive your bonus within 10-15 days following the end of the 90 day period. The bonus will be deposited directly into your account.

It’s important to note that you’ll only receive the bonus if this is your first 360 Savings account with Capital One 360. (If you’ve had a Savings product with Capital One 360 or ING DIRECT before, you won’t be eligible for the bonus.) Deposits from an existing Capital One 360 account will also not qualify. These have to be new funds to Capital One 360. I also want to make it clear: there is no minimum amount to open or maintain a Capital One 360 Savings account; however, in order to be eligible to qualify for any bonus you’ll need to make a minimum deposit of $5,000 as explained above.

Why I love Capital One 360 Savings Plan

I actually am not eligible for this promotion – because I currently own three 360 Savings accounts! My husband and I struggled with managing our savings prior our? relationship with Capital One 360 (back in the day, when it was ING DIRECT). Since creating a number of savings accounts and starting an automatic savings plan with Capital One 360, we now have emergency savings in place, money set aside for taxes, money saved for home improvements, and we’re even working towards saving for our next car!

Here are some additional things I love about our Capital One 360 Savings Accounts:

  • Easy to manage online. The interface is extremely user-friendly. You can easily transfer money between accounts, monitor your balance, interest earned, and much more.
  • Easy to customize. If you decide to open more than one account (like we’ve done), you can give your accounts nicknames (e.g., Hawaii Vacation, Christmas, Home Repairs).
  • Transfer between institutions. Capital One 360 allows me to transfer funds to and from my secondary financial institution.
  • No fees. There are no fees on Capital One 360 Savings accounts.
  • Customer service. Even though Capital One 360 Savings is easily managed online or by mobile, you can easily access a real person 7 days a week 8AM-8PM.

You may want to read my post How we’ve become successful at savings a lot of money in a short amount of time. In that post, I share more specific tips on leveraging Capital One 360 Savings accounts to painlessly grow your savings.

Remember, this Capital One 360 Savings promotion only runs for a limited time. If you’ve been on the fence about starting an account, I encourage you to do so now. For more information and to start your account today, head to Capital One 360.

Disclosure: this is a Paid Endorsement from Capital One 360. Please see my Disclosure Policy for more.