Capital One 360 savings interest rate, and how it compares - Business Insider

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Capital One 360 pays one of the best savings interest rates in the industry right now

Capital One and Ally pay pretty similar savings rates. Both pay the same rate on all balances, compound interest daily, and pay interest monthly.

Your choice between Capital One and Ally might come down to which is paying the higher rate at the moment, but keep in mind that rates fluctuate. Just because one pays a better balance today doesn't necessarily mean it will next week.Capital One is considered an online bank, but it also has over 470 branches in eight US states and DC. You might prefer Capital One if you live near a branch and want the option to speak with a banker face-to-face.

But you may like Ally if its robust savings buckets feature appeals to you. Set multiple savings goals in one account, like "Emergency Savings" and "Travel Fund" so you can track all your goals in one place.

 

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