Capital One Bank $50 InterestPlus Online Savings Promotion

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Capital One is offering a $50 bonus when you open an InterestPlus Online Savings account using the promotion code BANK223DF with at least $10,000 by January 15th, 2012. Capital One’s online savings bank offers competitive rates compared to other online savings accounts, gives you a 10% quarterly bonus on your interest, and has no fees.

Here is some of the legalese:

You will receive a $50 bonus if you open a Capital One Bank InterestPlus Online Savings (IPOS) account online only, enter the offer code at the time of account opening, and have $10,000 or more on deposit on 1/15/2012. This account must be your first account with Capital One Bank. The deposit will be deposited into your account 4-8 weeks after 1/15/2012 and the account must be open at the time the bonus is credited. The bonus will be reflected on your monthly statement and will be included in your year-to-date interest and year end tax reporting. This offer cannot be combined with any other offers.

I opened one of these accounts under a similar Costco/Capital One promotion last year and have been happy with it. If you are a Costco member, especially an Executive member, then the Costco promotion is better. With an Executive membership you get $60 in bonus money ($20 for Gold and Business) plus a higher interest rate (0.91% vs 0.80% as of today). Finally, the minimum you need to deposit to get the rate and bonus is $5,000, not $10,000.

{ 4 comments, please add your thoughts now! }

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4 Responses to “Capital One Bank $50 InterestPlus Online Savings Promotion”

  1. Strebkr says:

    This is unfortunate because I have had accounts there in the past. I guess I am not allowed to play.

  2. Grace says:

    It’s hard for me to see this as much of a deal, especially when one can open a Chase checking account, have a $500 direct deposit per month and get $125. Capital’s $50 for depositing $10,000 looks a bit cheesy.

    • govenar says:

      You can do both deals…
      I don’t see anything about a requirement to keep the money in there for a certain amount of time, and don’t see any fees if your balance goes below a certain amount; so you could just deposit $5000 (for the Costco deal), withdraw it after a few days, and get $60. It’s not the greatest deal, but not bad either.

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