Capital One Money Market Account Bonus (Up to $500):
- Capital One provides customers with the option to invest in a 360 Money Market Account and currently a bonus promotion is available through June 30th, 2018
- Money Market Account are unique from a traditional savings account as they provide substantially higher percentage rate of return (The 360 Money Market Account currently offers 1.6% Annual Yield)
- The bonus offer promotion is based on the balance you maintain in your account in the first 90 days of opening your account (account being funded within the first 10 days of opening)
- Capital One 360 Money Market Accounts are FDIC Insured, allows for online banking access, checks can be deposited through the Capital One App, and your account will not be subject to any monthly fees
- Opening an account can be completed online by following the link on the promotional page and customers should use the promo code MONEY2018 during sign up
Money Market Accounts can be a great way to hold on to your savings if you are not otherwise looking to invest. One thing that many consumers are unaware of is that a savings account typically does not earn all of that much interest return. Money Market Accounts are very similar to savings account except that you will earn money in the form of annual percent yield just for having your money in the account. The 360 Money Market account provides 1.6% and customers will need to maintain a $10,000 balance (this is one of the features of money market accounts, they often have minimum balance requirements in exchange for the interest rate they provide).
During this bonus promotion customers who maintain a $20K balance for the first 90 days will receive a $100 bonus, $40K will receive a $200 bonus, $60K will receive a $300 bonus, $80k will receive a $400 bonus, and $100K will receive the full $500 bonus. In addition to the bonus, you will continue to earn your percent yield while you maintain your account balance. To put this in perspective, a customer who deposits and maintains a $100,000 would receive $1,600 in interest return plus their $500 bonus for a total return on their account of $2,100 in the first year. If you are considering a Money Market Option for your finances, the Capital One Bonus promotion certainly provides an additional incentive.