Capital One vs. Wells Fargo
Comparing Capital One and Wells Fargo for savings: Capital One's 360 Performance Savings pays 3.20% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Capital One pays $315 more than Wells Fargo annually ($320 vs $5).
Choose Capital One if getting the best rate matters most, you want a no-strings-attached account, or BBB rating matters to you.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Capital One offers its savings account standalone.
| Metric | Capital One360 Performance Savings Apr 21, 2026 | Wells FargoPlatinum Savings Apr 21, 2026 |
|---|---|---|
| APY | 3.20% | 0.05% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.07% APY.
Comparison Analysis
Comparing Capital One vs. Wells Fargo
Executive Summary
Capital One offers a significant advantage with its 360 Performance Savings account, boasting an APY of 3.20%, which is far superior to Wells Fargo's Way2Save Savings account, which earns a mere 0.01% APY. Capital One's account has no minimum deposit, maintenance fees, or direct deposit requirements, making it a straightforward choice for savers. In contrast, Wells Fargo's accounts, including the Platinum Savings, have much lower yields, with the highest APY being only 0.05% for substantial balances and requiring a linked checking account. Overall, Capital One stands out as the clear winner for higher savings returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Capital One?
- ✓Higher potential APY (3.20% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
Capital OneCapital One's 360 Performance Savings earns more on smaller deposits (approx. $320 vs $5/yr).
Better Returns at $25,000
Capital OneCapital One's 360 Performance Savings pulls ahead with larger amounts (approx. $800 vs $13/yr).
Best for Simplicity
Capital OneCapital One's 360 Performance Savings offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Capital One's 360 Performance Savings pays $315 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Capital One vs. Wells Fargo Savings Calculator
You earn $315 more with Capital One than Wells Fargo 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+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Capital One | Wells Fargo |
|---|---|---|
| APY | 3.20% Verified: 4/21/2026 ↘︎ 0.10%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 4/21/2026 Stable (90d) |
| Product Name | 360 Performance Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C. | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,500/dayAvailable for 360 Checking accounts. | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | D- |
| Important Notes | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at Capital One Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Capital One | Wells Fargo | |
|---|---|---|---|
| 360 Performance Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.20% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.6 | -32.3 | 0.0 |
Days Since Change | 40 | 186 | 280 |
9-Month High | 3.50% | 2.51% | 0.01% |
9-Month Low | 3.20% | 0.05% | 0.01% |
Adjustments / Mo | 0.32 | 0.32 | 0.00 |
Volatility Score | 0.030 | 1.583 | 0.000 |
How to read these metrics(Click to expand)
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Compare Capital One's APY of 3.20% with other banks
Compare Wells Fargo's APY of 0.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.10% | $0 |
| Wells Fargo vs American Express | 3.20% | $0 |
| Wells Fargo vs Axos Bank | 4.21% | $0 |
| Wells Fargo vs Barclays | 3.75% | $0 |
| Wells Fargo vs Chime | 3.00% | $0 |
| Wells Fargo vs CIT Bank | 3.75% | $100 |
| Wells Fargo vs Discover Bank | 3.30% | $0 |
| Wells Fargo vs EverBank | 3.90% | $0 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.50% | $0 |
| Wells Fargo vs Newtek Bank | 4.20% | $0.01 |
| Wells Fargo vs Openbank | 4.00% | $500 |
| Wells Fargo vs Pibank | 4.40% | $0 |
| Wells Fargo vs SoFi Bank | 4.00% | $0 |
| Wells Fargo vs Synchrony Bank | 3.40% | $0 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |
| Wells Fargo vs Wealthfront | 4.20% | $0 |