With the success of ING Direct and other direct banks, there has been a lot more attention given to selling savings accounts and certificates online.

One of the new players to watch is Capital One. They are beginning to apply their marketing skills, honed in the brutal credit card market, to deposit products.

Googling "online banking" today, we noticed Capital One in first position on the right-hand sponsored links area (see inset).

Clicking through you are delivered to a page that markets deposit products much more aggressively than most banks (see screenshot below). Capital One leads with a chart showing its rate compared to the national average (see inset above).   

The bank offers five different savings products on the main page, each with its own distinct Open Account button:

• 3.15% High Yield Savings Account (the lead product at the top)
• 4.03% No Regrets CDs (allows purchasers to bump-up their rate)
• 3.25% Money Market Accounts
• 4.50% Certificates of Deposit
• 4.29% IRA CDs

Analysis
The relatively high rates (APYs) are a big part of the appeal. But there is more to it than just price.

Capital One does a great job of laying out the options, including:

• product comparison chart
• detailed features and benefits at every step of the way
• animated demonstration of how easy it is to setup an account and move money back and forth from any checking account (at any financial institution)

Click on this thumbnail for a look at the main savings page at Capital One.

--JB