For a CD with a term greater than twelve (12) months, the penalty is six (6) months of interest regardless of when you redeem the account prior to maturity.For a CD with a twelve (12) month or shorter term, the penalty is three (3) months interest, regardless of when you redeem the account prior to maturity.

Additional deposits (other than credited interest) are not permitted during the term of the account.Įarly withdrawal penalty: If you redeem a Certificate of Deposit (CD) prior to maturity, you will incur an early withdrawal penalty. (Here's an example - if you make a non-cash deposit on a Sunday, we will process it on Monday, and interest will begin to accrue no later than Tuesday.)ĭeposits: We may limit, refuse or return all or any part of a deposit without prior notice to you. For cash deposits, interest will begin to accrue the same day on which the funds were deposited. This method applies a daily periodic rate to the principal in the account each day.Īccrual of interest on deposits: For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited. If no action is taken, interest will be credited to the certificate of deposit account.īalance computation method: We use the daily balance method to calculate the interest on your account. You have 20 calendar days from account opening and from the day of maturity to choose your interest disbursement option. If the CD account is closed, the interest will be included in the closeout balance. If the interest disbursement transfer to another Capital One or to an external linked account fails, then the interest will remain on the CD account. You may choose to receive interest payments: a) by transfer to another Capital One account, b) by transfer to an external linked account, or c) by crediting the interest to the certificate of deposit account. We will not provide advance notice of these varying amounts. Payment of interest: Your interest payments may vary, by no more than 12%, depending on the number of days in the month in which the interest is calculated. Withdrawal of the full account balance is permitted at maturity and during the grace period. Withdrawals: We will not permit partial withdrawals of principal during the term of the account. If you complete this process and fund your CD within 10 calendar days of your application date, and the interest rate offered for your term has increased during that time, we will apply to your CD the highest interest rate offered during that time.Ĭompounding and crediting: Interest on your account will be compounded and credited on a monthly basis. Your CD account won’t be considered opened until you have confirmed ownership of the external account and we receive your deposit. Rate lock guarantee: If you fund your CD account by linking it to a new external account, that funding process may take a few days because you will need to confirm ownership of your external account. Your maturity notice includes instructions on how to learn about current rates closer to your maturity date for renewal purposes.

The APY assumes that interest will remain on deposit until maturity. Rate information and interest: The above stated interest rate and APY will remain fixed until the maturity date.

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