Capital One Offers 4.1% APY on 11-Month CD with No Minimum Deposit
Capital One now offers an 11-month CD yielding 4.1% APY with no minimum deposit, the highest rate among online banks. The move aims to capture retail deposits as banks adjust rates following multiple Federal Reserve rate reductions.
1. New 11-Month CD at 4.1% APY
Capital One introduced an 11-month certificate of deposit that yields 4.1% APY with no minimum deposit requirement, marking the highest available rate among online banks. This product targets savers seeking secure, short-term returns as deposit yields adjust to prevailing rate conditions.
2. Impact on Deposit Strategy
By offering the top APY, Capital One aims to capture retail deposits following recent Federal Reserve rate reductions, enhancing funding stability while managing potential pressure on net interest margins.
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