A method is disclosed for forming a capacitor on a semiconductor wafer. A first electrically conductive layer is applied atop the wafer and engages exposed active areas. A first dielectric layer is next applied. The first dielectric and conductive layers are then patterned to define an outline for the lower capacitor plate. A second dielectric layer, having an etch rate which is slower than the first, is then applied and planarized or otherwise etched down to the first dielectric layer. The first dielectric layer is then etched down to the first conductive layer to produce upwardly projecting walls of second dielectric material surrounding the lower capacitor plate outline. A second electrically conductive layer is then applied. It is then anisotropically etched to provide a first electrically conductive wall extending upwardly from the first conductive layer. A third dielectric layer is then applied. The third dielectric layer is then anisotropicallly etched to provide a first dielectric wall extending upwardly from the first conductive layer adjacent the first conductive wall. A third electrically conductive layer is next applied over the first conductive and dielectric walls. It is then anisotropically etched to provide a second electrically conductive wall extending upwardly from the first conductive layer adjacent the first dielectric wall. The first dielectric wall is then etched from the wafer. A capacitor dielectric layer is then applied, followed by a fourth electrically conductive layer to form an upper capacitor plate.