Costco Online Savings Account

(// Costco and Capital One Bank have teamed up to offer an online savings account that currently has an annual percentage yield of 1.50 percent. Their online savings account is called "InterestPlus Savings Account".

costco-online-savings-accountIn addition to having one of the best savings account rates and yields available, the savings account also has a 10% bonus on interest earned and either a $60 bonus or $20 bonus depending on your Costco membership.

The minimum opening savings account balance is $5,000. You also have to maintain an average savings balance of at least $5,000 to earn the 1.50 APY. Account balances under $5,000 do not earn any interest.

To receive the 10% interest bonus your InterestPlus 0nline savings account must be open and you must maintain an average monthly balance of at least $15,000 in this account every month during the preceding quarter. The bonus is paid into your online savings account within 4-8 weeks after the end of each quarter.

To receive the $60 Costco member bonus, you must be a Costco Executive Member at the time you open your account. To receive the $20 Costco member incentive, you must be a Costco Gold Star or Business Member at the time you open your account.

The other restriction on the member bonus is the account must be your first Capital One Direct Banking account of any kind through the Costco program and you must fund your account with at least $5,000 within 30 days of account opening.

Costco/Capital One Bank Online Savings Account Info: InternetPlus Savings Account.

Author: Lisa Graham
February 9th, 2010

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