Capital One Offers $50 To Open High Yield Online Savings Account

Capital One is offering a clandestine $50 bonus to open their high yielding savings account and fund it with $25,000 within 30 days of account opening. The offer only seems to have been marketed in san Francisco although nothing in the language would prevent anyone from another location from opening it. Banks often test regional offers and while they are open nationally, they simply don't advertise them. The Internet though means that once words gets out, an offer is national.

The Capital One Savings Account is one of the best savings rates available. If you open the account with $10,000, the account yields a 3.55% APY. If you are a Costco member, you can get a 3.75% APY,

To get the $50 offer you must:

• Open the account by October 31, 2008 and deposit $25,000 within 30 days from account opening. It does not say you have to keep the money in the account, although to receive the highest possible APY you w/ill need at least $10,000.
• Fund the account with money not already in a Capital One account.
• Use the offer promo code BONUS50 at the time of account opening.

Capital One received 3 1/2 starts out of 5 from Bauer Financial for its safety and soundness. That's a decent score and you can see how this compares to other high yielding banks on the BestCashCow rate table.

Thanks to Banking Guy at Bankdeals for finding this offer.