I use the capital one 360 savings account. I'm ignorant and I don't really

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Jan 21, 2019
5:10:01pm

Jay Rick All-American

I use the capital one 360 savings account. I'm ignorant and I don't really

understand the interest rate. Here's what it says:

Rate Information - The Interest Rate on your account is 0.9954% with an Annual Percentage Yield of 1.00%. The interest rates and annual percentage yields are variable and may change at any time at our discretion.

Can someone translate that to English for me?

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Jay Rick

Previous username: jayriggity
Bio page: Jay Rick
Joined: Feb 10, 2013
Last login: Apr 19, 2024
Total posts: 28,055 (4,816 FO)

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Messages

Author

Time

I use the capital one 360 savings account. I'm ignorant and I don't really

Jay Rick

1/21/19 5:10pm

1% is what you actually earn, but can change if market rates change.

Big Tuna

1/21/19 5:12pm

So let's say I have a balance right now of 10K. They're gonna give me $100/year

Jay Rick

1/21/19 5:27pm

$100 the first year, but the next year it will be $101 and so on. Miracle of

supertux

1/21/19 5:30pm

A lot better than what I'd get in a traditional sav acct, I guess, which is like

Jay Rick

1/21/19 5:47pm

You give them moneys, they give you a tiny bit of moneys

cougarnerd

1/21/19 5:13pm

Pretty much.

realtall

1/21/19 5:29pm

What they're saying is Ally will pay you more than twice as much.

supertux

1/21/19 5:20pm

I don't know much about Ally, but is it as "liquid" as Cap1? This

Jay Rick

1/21/19 5:33pm

Yes. Same thing. I used to have cap1 as well.

supertux

1/21/19 5:36pm

Fdic insured and 6 withdrawals per month (standard with savings accounts anywher

supertux

1/21/19 5:37pm

Or Marcus (Goldman Sachs) or Barclays or some others. Pays to shop arround.

Y-Zag

1/21/19 5:46pm

And if you transfer to the Capital One 360 Money Market savings account

The Mole

1/21/19 6:00pm

I think Goldman Sachs is 2.35% right now

Tsisquan

1/21/19 6:21pm

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