Capital One vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Capital One360 Performance Savings Jan 7, 2026 | My Banking DirectHigh Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.40% | 4.02% |
Est. Earnings | $5,000+$170 $10,000+$340 $25,000+$850 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Capital One vs. My Banking Direct
As of Capital One offers an APY of 3.40% for its 360 Performance Savings account, with a minimum balance of $0, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
My Banking Direct pays $62 more than Capital One on a $10,000 balance after one year. Capital One pays $340, while My Banking Direct pays $402 - an APY advantage for My Banking Direct.
Why Capital One?
- ✓Physical branch access (Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.)
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 3.40%) on all balances
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $340/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $850/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Capital OneCapital One offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.5 (vs. 4.3)
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $62 more interest on a $10,000 balance than Capital One's 360 Performance Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the winner in this comparison. This account requires a minimum deposit of $500 and a minimum balance of $1, but has no maintenance fees or direct deposit requirements, making it straightforward for users. In contrast, Capital One's 360 Performance Savings account provides a lower APY of 3.40% with no minimum deposit or balance requirements, and it is not online-only. While Capital One boasts a strong mobile app experience, My Banking Direct stands out for better returns, especially for those with larger deposits.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Capital One vs. My Banking Direct Savings Calculator
You earn $62 more with My Banking Direct than Capital One on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Capital One
360 Performance Savings
Savings Breakdown
- Interest Earned+$340.00(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,340.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Capital One | My Banking Direct |
|---|---|---|
| APY | 3.40% Verified: 1/7/2026 Stable (90d) | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change |
| Product Name | 360 Performance Savings | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $1 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.5 | iOS4.7 Android4.3 |
| Zelle® Support | Available Limit: $2,500/dayAvailable for 360 Checking accounts. | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | A+ | F |
| Next Steps | Visit SiteVerify at Capital One Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Capital One | My Banking Direct |
|---|---|---|
| 360 Performance Savings | High Yield Savings Account | |
Current APY | 3.40% | 4.02% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.3 | -4.0 |
Days Since Change | 98 | 53 |
11-Month High | 3.80% | 4.45% |
11-Month Low | 3.40% | 4.02% |
Adjustments / Mo | 0.34 | 0.43 |
Volatility Score | 0.034 | 0.035 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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