Capital One Bank invites consumers to take advantage of their high interest rate savings account called Interest Plus Online Savings Account. The bank lets you earn an interest rate of 1.10% APY. You are only required to deposit a minimum balance of $1 to open an account. In case your balance is below $1,000 you do not have to worry since you will not be charged any service fee. In addition, you also get to earn 10% of your monthly interest rate every quarter when you meet the following requirements:

• at least have an average monthly balance of $10,000 and above on your savings account
• at least use your Capital One credit card once every month

The bank pays the bonus and adds it on your Interest Plus Online Savings account within 4 to 8 weeks after the end of each quarter. Capital One Bank limits you of up to 6 withdralwals via online transfer per statement cycle. You may also make online deposit via online transfer or by mailing your check to the bank.

Interested individuals who wants to apply for the Interest Plus Online Savings Account may complete the online application. You may either send your initial deposit to the bank or make an electronic transfer. After receiving the information packet, sign it and mail the acceptance letter back to Capital One Bank. You may also contact the bank’s customer service line with regard to openning of account thru 1866-346-6549.

Capital One Bank has branches located in the state of Connecticut, District of Columbia, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, and Virginia.

Capital One Bank was established in 1994 and now has over $100 billion in customr deposits. The bank is a lso insured by Federal Deposit Insurance Corporation for at least $250,000 per depositor, and per institution. Capital One Bank has an FDIC cerificate number 33954.