So while the bonus is great initially, you may be sacrificing the long-term return. $150 for opening an Asterisk-Free Checking account and making a cumulative deposit of at least $1,000 within 60 days of the account opening. Unlike other current and savings accounts, Bonus$aver is a unique account offering interest rates that are higher than any time deposit. To qualify for the bonus, you must not have an existing Chase fiduciary or checking account (or had one closed with a negative balance or within the last 90 days). The Performance Spend also pays 0.01% interest on its checking account for balances of $2,000 or more. To earn a $200 reward, you must open a new Virtual Wallet with Performance Spend account and make at least $2,000 in total direct deposits. You may not want a checking account and are free to close it, but keep in mind in order to get the $100 bonus (to bring the total amount to $500) you need to make the ACH deposits into a checking account, not a savings account. TD Bank customers can earn and give $50 when they refer a friend to a TD Bank personal checking account. We are an independent, advertising-supported comparison service. 0.2% APY Boost Referral Bonus. Know the pros and cons. It may not make sense for you to keep $10,000 in a low-earning account just to earn a $200 bonus, for example. Receive two direct deposits of at least $250 each within 90 days of opening your account. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access To earn a $50 reward, you must open a new Virtual Wallet and make $500 in direct deposits. After a year, you’ll have earned $1 in interest. Who’s eligible: New Citibank customers are eligible for this offer. Not have opened an account with Associated Bank within the last six months. New checking customers can earn $100 from Bank of America when they open an account online. To get the bonus, you must: An offer code (DOC100CIS) is needed to qualify for the bonus. Chase SavingsSM $150 Bonus Get a $150 bonus when you open a new Chase SavingsSM account and deposit a total of $10,000 or more in new money within 20 days. When you deposit money in a savings account, you earn interest on the amount you deposit. To qualify for the bonus, you must keep a minimum balance of $100 in your savings account, and have $1,200 (or more) in your account at the end of the 12-month period. Bank of America is headquartered in Charlotte, North Carolina. Opening both a new checking and savings account can get you a $350 bonus, as long as you follow the above savings account rules and set up direct deposit on your new checking account. Offer rules: You must be a new Citibank customer and open a Citibank Account Package, which includes a checking and savings account. When looking for the best online savings accounts, you won’t find much overlap here. Through Jan. 7, 2021 you can earn: These offers are only valid for residents of Ohio, Michigan, Indiana, Pennsylvania, Kentucky, West Virginia, Illinois and Wisconsin. will apply. Huntington Bank has a few checking account bonuses available for both consumers and business owners. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. New small business owners have the opportunity to earn a $100 bonus when they open a Small Business Checking Account with Axos Bank. This excludes those who own an existing PNC Bank consumer checking account, have closed an account within the past 90 days or have been paid a promotional premium in the past 12 months. Account details: The Chase Savings (SM) account earns interest at a nominal rate of 0.01% APY, which isn’t ideal for savings growth. You should figure out whether it’s worth it for you to open a new account with a traditional bank just for a bonus offer. This includes a bonus of 0.75% p.a. They also have great options for those looking for a free Checking account (no monthly fees). Excess debit transaction fee may also apply depending on the account. If you close this new savings account within six months after opening, Chase will deduct the bonus amount from the account at closing. There are several savings account bonus offers out there that could allow you to earn a few hundred dollars by opening a new savings account. © 2021 Bankrate, LLC. Banks use sign-up bonuses to distinguish themselves from others in the industry. 1 In exchange for opening a new savings or checking account, you could wind up with an extra $200 or $300 dollars (or more). Here are some of the best bank account bonuses in January. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Current HSBC customers have a few referral bonuses to choose from that range from as little as $100 all the way up to $600, with the opportunity to earn up to $2,000 per calendar year. Our review of Chase’s banking products and services gave the bank 3.4 out of 5 stars. The Bonus Interest will continue to … Transferring money is free between your CIBC personal bank accounts using online, mobile or telephone banking, or at any CIBC ATM. The offer: To earn this $700 bonus, open a new Citi Priority Account Package with an initial deposit of at least $50,000 within 30 days of opening. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Sign up by 10/21, fund by 10/31, maintain balance until 1/15/2019, bonus paid by 2/15/2019. You may see links to LendingTree services and sites on our websites. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The offers that appear on this site are from companies that compensate us. Have incorporated your business after June 1, 2020, Maintain a daily balance of at least $2,500. HSBC is based in McLean, Virginia. Factor in fees. Who’s eligible: Any Regions checking account holder. Account details: The LifeGreen Savings account charges no monthly fee and earns 0.01% APY on all balances. To prevent this from happening, a new savings account might be a good place to start. CIT Bank’s Savings Builder High Yield Savings currently offers a 0.45% APY if you have either an account balance of $25K+ or for balances under $25K you can qualify, by making at least one deposit each month of $100 or more.. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history, and will be agreed upon between you and the lender. To qualify, you must: Associated Bank is based in Green Bay, Wisconsin and has branches located in Illinois, Minnesota and Wisconsin. No monthly fees. $400 for opening an Unlimited Business Checking account and making a cumulative deposit of at least $5,000 within 60 days of the account opening. 18. A cash bonus - for doing nothing. To get the bonus, you must: An offer code (NEWBIZ100) is needed when applying. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. You can earn at higher relationship rates by meeting certain requirements. On top of the base interest rate of 0.05% p.a., stand to earn up to 1.45% p.a. While we trudge through the fine print for you, we are only offering a summary not all the intricate, legal conditions (which is why you wanted our opinion anyway, right?). We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. The base interest rate for savings accounts are pretty low, starting from 0.05% p.a. Importantly, savings accounts are available at any financial institution that offer rates so you can grow your money over time. Summary of the best savings account bonus offers in January 2021. That way, you won’t lose any of that bonus right off the bat. The offers are valid for residents of Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia or the District of Columbia. Account details: The Citi Priority Account Package is a premium account, including investment resources and on-demand access to Citi Personal Wealth Management. Most perks TD Beyond Checking Earn $300. Shopping around for a new bank account isn’t exactly exciting, but at a time like this it could be worth your while. Bonus interest: If you have not had a Westpac eSaver account before, an introductory fixed bonus rate of 0.35% p.a. Below, you’ll find the six biggest bonus offers on savings accounts being offered. You have money questions. Additionally, these accounts offer some of the best savings account bonuses as well. Who’s eligible: You’re eligible for the Chase Savings (SM) account bonus offer … in your savings account. The average savings account interest rate tends to hover around 0.20% APY, but big brick-and … This website does not constitute an offer or solicitation to lend. To earn $300, open an eligible checking or savings account in the Citibank Account Package. Existing or previous eSaver account holders are not eligible for this offer. You’ll always maintain control of your funds with 24/7 mobile banking access, including tools like remote check deposit, instant online transfers, and more. Get a $150 bonus when you open a new Chase Savings SM account and deposit a total of $10,000 or more in new money within 20 days. Offers are current as of this publication date and we will update the article periodically to show the freshest ranking. To earn $150, open a Chase Savings account and deposit a total of $10,000 or more within 20 days and maintain the balance for 90 days. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. If you miss the monthly deposit, you’ll drop down to 0.29% APY for the following month. With the Citi Priority Account Package, you can earn 0.03% APY on the Interest Checking account and 0.04% – 0.15% APY on the Citi Savings account, depending on your balance. The DBS Multiplier account could be considered as one of the best savings accounts but it works in a different way compared to the other savings accounts that have been mentioned in this article. Performance Spend has a $15 waivable fee. In my case, that was both a function of spending more time at home than I had in the past … View on frequentmiler.com. Reach your savings goals sooner. Earn up to 0.50% a year on your total account balance Receive 0.25% a year if you do not make any withdrawals Get an additional 0.25% a year when you save at least S$500 each month Chase Savings Account. Current Chime customers can get $50 for each friend they refer. Because dipping into your savings can be tempting, our Bonus Savings Account rewards you for establishing virtuous saving habits. I enrolled in this offer on January 15. applies for the first 5 months, on top of the standard variable rate. These higher rates eventually revert to normal after a few months, so when looking at bonus saver accounts double check that you’re happy with the standard ongoing rate. New offers haven’t yet been announced. To receive the $200 checking bonus: Open a new Chase Total Checking account, which is … With HSBC’s Direct Savings account you get 0.15% APY. The promotional code you’ll need to use is CHECKINGQ121. Interest is calculated daily and paid monthly on our Savings and Chequing Accounts. You can waive the fee by maintaining a combined average monthly balance of at least $50,000 in eligible linked accounts. Its second checking component earns 0.01% APY on all balances. You can get started with one of these CIT Bank offers with just $150. $750 for opening an Unlimited Plus Business Checking account and making a cumulative deposit of at least $20,000 within 60 days of the account opening. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. I would then receive the $100 bonus by May 8. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. It will take 10 business days after opening an Ultimate Package account for the 0.10% Interest Rate Boost to apply to Momentum PLUS Savings Account(s). OCBC Bonus+ is a simple, "stash-and park" type of savings account. Its savings account also earns 0.01% APY, but offers the chance to boost your rate to higher relationship rates. You must also maintain a $10,000 balance for 90 days. But qualifying for multiple bonuses at the same time at the same bank usually isn’t possible. A savings account is a type of bank account that usually has limited withdrawals available for free, making it a better place to keep your stash of cash you’re saving for a rainy day. If earning a bonus seems to require too much effort, you might want to look for another one. Chase Savings Account: $150. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Have at least $2,500 worth of direct deposit funds within 60 days of opening the account. Bonuses are available to residents in the District of Columbia, Pennsylvania and every state on the east coast except Georgia. TD Bank is based in Wilmington, Delaware. HSBC Premier Checking $600 bonus. Rather than the money being paid into the Help to Save account… If you’re applying for a checking account, make sure it’s a good match that meets your needs. Learn how to make transfers Depending on the savings account and the promotion, you can earn up to 4.25% p.a. Some banks, like Chase, offer more than one sign-up bonus. It earned 4.6 out of 5 stars in Bankrate’s full review of its products and services. Importantly, savings accounts are available at any financial institution that offer rates so you can grow your money over time. We do our best to make sure our calculations are up-to-date, but we are human and can't make warranties regarding the accuracy of our information. You’ll need to deposit at least $10,000 in new money (not previously held with Chase or its affiliates) within 20 business days and maintain at least that minimum balance for 90 days. Be sure you do understand the full terms provided by the financial institution before signing the dotted line, or lets be real, clicking the "I Agree" button. Fortunately, a number of banks are still giving out free stacks of cash. Plus, a savings account bonus offer is a short-term boost in savings, rather than the ongoing growth of a high-yield account. Savings accounts have a maximum of 6 withdrawals per statement cycle. How to get the bonus: Open a new Chase Savings account as a new Chase customer. Read our Tangerine review here. At least one repeating automatic transfer of $25 or more from your personal Chase checking account or Chase Liquid® Card, Linking this account to a Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account. If you’re looking for a new savings account, consider whether you’re better off finding another bank that pays more interest. Its savings account also earns 0.01% APY, with the chance to earn nominally more through relationship rates. This means those who have not been a signer on a Citibank checking account within the past 180 days. This compensation may impact how, where and in what order products appear. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. You’ll need an opening deposit of at least $50 to open the account online, or $5 if you open the account at a branch, and you set up an automatic recurring monthly transfer from a Regions checking account. Totals are not cumulative, and if not used, may not be carried over into the next monthly cycle or calendar year. $200 for opening a Business Checking 100 account and making a cumulative deposit of at least $2,000 within 60 days of the account opening. What is a Cash management account? The Regular Interest Rate plus the 0.10% Interest Rate Boost is calculated daily on the Momentum Add that to your $200 bonus and you can add a whopping $201 to your savings. It earned 3.9 out of 5 stars in Bankrate’s full review of its products and offerings. Interest rates are subject to change without notice. “It’s much easier to quantify the bonus than it is to raise the rate on what you’re paying out on deposits,” says Greg McBride, CFA, Bankrate chief financial analyst. Bankrate.com is an independent, advertising-supported publisher and comparison service. Tax-Free Savings Accounts (TFSAs) are saving and investing accounts that earn tax-free interest on cash, dividends, and savings. Can be for savings account (currently paying 1.9%) or CD (even their 11 month no-penalty CD). Earn up to $300 with checking. $100 Savings Account Bonus. Every year, you’ll receive a 1% savings bonus on your account anniversary date, based on your account’s average monthly balance for the preceding 12 months, up to the max annual savings bonus of $100. It's simply an account for you to put money in and earn interest. Here’s an explanation for The only other area where a Chase Premier Savings account could possibly beat the Chase Savings account is with a higher savings bonus offer. • Discover Bank Bonuses. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Banks have promotions whereby they offer bonus interest rates on savings accounts if you meet certain conditions. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners. Make an opening deposit ($25 opening deposit for the Advantage SafeBalance Banking account and $100 opening deposit for the others). Qualifying for and receiving the bonus takes months. Value of promo: $150. The $100 bonus is automatically deposited into The Ultimate Opportunity Savings Account after you’ve successfully made a monthly deposit of $100 or more for 12 consecutive months. As a result, most people will do a lot better with the bank’s basic savings product. Both offers expire April 1, 2021. Ongoing, variable 1.2% p.a. Bonus offers for their Checking accounts are only available for limited periods throughout the year. Offer rules: Open a new checking and savings accounts in the Citi Priority Account Package and deposit at least $50,000 in new-to-Citibank money within 30 days of account opening. Add and maintain at least $500 for a full month, Receive a direct deposit of at least $100 within the first two months, Open a Chase Total Checking, Chase Savings or Chase College Checking account, Be in good standing at the time of payout, Receive a single qualifying direct deposit of $200 or more from a payroll provider within 45 days of opening the account, Bring in a referral form with your information, Receive a direct deposit of at least $250, OR make at least 15 debit card purchases within 60 days of opening the account. HSBC has a couple of checking account bonuses available online. What you’ll get: $150 bonus Eligible account: Chase Savings SM Credit inquiry: Soft pull, which does not affect your credit Where it’s available: Online Nationwide except … I need to deposit a minimum of $10,000 into the account by January 25 and keep a $10,000 minimum balance until April 24. I enrolled in this offer on January 15. Invest your money in a high-yield savings account, and you'll get higher interest rates than with a traditional savings account. Free ('£180') 15-bottle case of wine for switching + 2% easy-access savings. Reach your financial goals even faster with a bonus interest rate. Customers who open a new Chase savings account and maintain the required minimum balance for 90 days can earn a … BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. Through Jan. 20, 2021, Chase is offering a bonus on new checking and savings accounts. If you’re wishing you had more savings right now, you’re not alone. CNBC Select reviewed dozens of checking accounts from online banks, brick-and-mortar banks and credit unions to find the best ones with new account holder bonus offers. But, unfortunately, we couldn’t find one. While we adhere to strict Online banks still win by and large. To find the best savings account bonus offers, we looked for the highest bonus amounts offered. Savings accounts offer higher rates than checking account, although they are less liquid that a savings account. Additionally, these accounts offer some of the best savings account bonuses as well. Tangerine is a subsidiary of Scotiabank. Let’s say you do deposit and maintain $10,000 in a new savings account that has an interest rate of 0.01%, which is typical of brick-and-mortar savings accounts. A Red Ventures company. New excellent offer from Ally – 1% bonus on up to $100k of new money for new or existing accounts. Maximize Your Chase Savings Account With a Chase Total Checking Account . High-Interest Savings Accounts operate in the same manner as traditional savings accounts but have an interest rate higher than 1.00%. For new Customers only. The savings account bonus required a $15,000 new-money deposit (not a transfer from an existing account). New Virgin Money* switchers get the wine (Virgin says they're worth £180, though this is hard to verify as they're Virgin Wines exclusives), plus 2.02% AER variable interest, although only on up to £1,000 in the account. If you find an error please let us know here. Axos is headquartered in San Diego, California. The 0.10% Interest Rate Boost will cease to apply effective the Ultimate Package closing date. Every bank account bonus isn’t a good deal. TD Bank consistently offers great Checking account bonuses all year long. To qualify for the bonus, your friend must: You can refer up to 10 friends per calendar year, meaning you could earn up to $500. I used my brother’s referral link on January 15 (before I enrolled in the $100 savings account bonus) and will receive a … Do the math. You can earn a $200 bonus with a Chase Total Checking® account. *These offers are updated periodically and are accurate as of Jan. 5, 2021. A high-yield savings account, also known as a high-interest savings account, is a savings account that earns interest at a higher rate than a traditional savings account. Bankrate has answers. Usually, there are other criteria you must meet as well, like depositing a … Who’s eligible: Only new PNC customers qualify for these offers. Account details: The Performance Select is the top tier Virtual Wallet. How you earn it: Open a … Citibank, likewise, has a tiered bonus offer, which can yield $200, $400 or $700, if you're willing to open a checking account, or both a checking and a savings account. All other Debit Transactions from any Savings Account, are counted as Debit Transactions in the Account and give rise to an Excess Debit Transaction Fee, if any free monthly Debit Transaction is exceeded. You can also get some great bonuses when you open up a savings account. Choose a checking account to earn up to $300. Bank with a bonus. To qualify for the bonus, you must: If all qualifying activities are met, both parties will receive $50. Here are the current bonuses and what your friend will need to do to qualify for them. Our editorial team does not receive direct compensation from our advertisers. Citibank is based in Sioux Falls, South Dakota. It’s also important to be able to meet the account’s minimum balance requirements. A Bonus savings account is an account that give bonus interest whenever the accountholder makes no withdrawals and deposits a certain amount of money into the account (usually around $50 or $100). In the full review of its banking products and offerings, the bank earned 3.4 out of 5 stars. Sign up Bonus: $150; There’s a $150 bonus available to customers who set up a Chase Savings Account. Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. In Bankrate’s review of Citibank’s full suite of products and offerings, it earned 4.3 out of 5 stars. Passive income ideas to help you make money, Best age for Social Security retirement benefits, review of TD Bank’s services and product offerings, full review of its banking products and offerings, review of Chase’s banking products and services, Bankrate’s review of Citibank’s full suite of products and offerings, coronavirus forcing banking to shift online more than ever before, How to get the most out of a checking account bonus, Privacy policy / California privacy policy. Bonus saver accounts can be a great way to get a head-start on your savings, as they offer bonus interest to incentivise you to save faster. Most bank bonuses require you to meet certain minimum direct deposit requirements for a checking account or minimum balance requirements for a savings account, although this isn’t always the case. Open a SunTrust Essential checking account online by March 31, 2021 and earn $200 by having direct deposits of at least $500 made per statement cycle for two consecutive cycles (within the first three months of opening the account). Kinguin - global digital marketplace that sells game keys with instant delivery 24/7. Citibank and Chase have savings account promotions at the time of writing. Within 30 days of opening your account, fund your Citi Savings Account with at least $25,000 - $1,000,000 or more in New-to-Citibank funds and keep the funds in the account for 60 consecutive calendar days; Get up to $3,000 deposited to your account! Bankrate.com is an independent, advertising-supported publisher and comparison service. After meeting the above requirements, you’ll get $400 in bonus money deposited into your checking account (or savings account if you’ve closed the checking account). if you grow your account balance by S$500 a month. A bonus saver account is a savings account that rewards you with extra interest when you meet the account conditions. For the savings account, the highest interest rate is with Rabobank High-Interest Savings Account with 3.05% p.a for the first 4 months if you’re eligible for the bonus interest rate. MagnifyMoney is wholly-owned by LendingTree, a Marketing Lead Generator and Duly Licensed Mortgage Broker with its main office located at 11115 Rushmore Dr., Charlotte, NC 28277, Telephone Number 866-501-2397 (TDD/TTY). $100 for Choice Checking: Deposit and maintain a balance of $1,500 or receive monthly recurring direct deposits. Want to do more banking with Chase and open a Chase Total Checking account, too? if you do not make any withdrawals, and another bonus 0.70% p.a. It won’t help your savings situation if your new account charges a monthly fee that you can’t waive, either. Savings Account, Chequing Account, and GIC interest rates expressed on this website are annual interest rates and are current as of today's date. You can waive the fee with one of the following, each statement period: You could also face a $5 fee for each excessive transaction you make over the six-transfer limit per statement cycle. Which certificate of deposit account is best? You could even lose your bonus offer if you close the account too soon. To claim the $150, you must: Set up payroll direct deposit for at least 3 consecutive months. What you’ll get: $150 bonus Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. The typical savings account bonus offer requires a minimum deposit to qualify for a bonus. Before you sign up, read the fine print. Keep the account open for a minimum period of 12 months. 1. Bonus Rate Savings 1 offers SouthEast Bank checking account holders the opportunity to earn up to 2.01% APY* on balances up to $10,000 by meeting a few simple requirements. Bonus offers tend to come from brick-and-mortar banks, as incentives for you to place your deposits with them. To qualify for the bonus, you must have receive an automatic transfer of at least $10 from a Regions checking account to your LifeGreen Savings Account in at least 10 of the 12 months that precede the month of your account opening. Its checking account aspects earn interest at 0.01% APY. After 5 months, the standard variable interest rate, currently 0.05% p.a. At Bankrate we strive to help you make smarter financial decisions. Your bonus will be based on the average monthly balance for the 12 calendar months before your account anniversary. Through Jan. 20, 2021, Chase is offering a bonus on new checking and savings accounts. Offer ends March 31, 2021. 1 Pay no ATM fees, 2 earn interest and waive the monthly maintenance fee 3 different ways. MagnifyMoney is a free, independent service providing unbiased comparisons of financial products, therefore if we are compensated then we will let you know on the product page before you leave our website. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. $450 for opening an HSBC Premier checking account online and receiving monthly direct deposits of at least $5,000 for three consecutive months (from the second full calendar month after opening the account). And with coronavirus forcing banking to shift online more than ever before, look for a bank or credit union that offers a solid set of digital tools. To qualify for the bonus, your friend must: If all requirements are met, both parties will receive $20 in their bank account. While they could pay account holders a higher yield, for some banks, offering a bonus is preferable. That’s why you’ll find most sign-up bonuses being offered by brick-and-mortar banks. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Bank promotions consist of cash bonuses when you open a new checking or savings account. It’s easy to go straight for the highest amount, but pay attention to the bank and the account you’re getting ready to open. 2. Bonus amount: $150. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site.