Capital One Financial (Capital One), a Virginia-based inancial holding company, has added InterestPlus Online Savings (IOS) to its selection of products offered by its direct banking business. IOS is a no fee, FDIC insured savings account that customers can open online. Customers can access their account and receive customer service assistance both online and by telephone.
Capital One has claimed that IOS offers 1.60% annual percentage yield on savings account balances of $2,500 or more. As an additional benefit, customers who maintain an average balance of $15,000 or more each month in their savings account or use a Capital One credit card at least once a month receive an extra 10% quarterly bonus on interest earned.
Pam Girardo, spokesperson for Capital One Direct Banking, said: “Developing healthy savings habits is essential for reaching financial goals and building wealth. By marrying a high interest rate plus the opportunity for a 10% bonus with secure and convenient access, InterestPlus Online Savings encourages customers to make responsible savings decisions and allows them to watch their money grow.”
