[CA only] State Bank Of India (California) $150 Checking Bonus
Update 8/23/19: It looks like this will actually work for areas outside of CA. Lots of DP of that in the comments. I’m going to keep the title as CA only for now to hopefully avoid too many new applications in a short period of time.
Offer at a glance
- Maximum bonus amount: $150
- Availability: I assume CA only?
- Direct deposit required: Yes, $500+ for three consecutive statement cycles
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding:
Up to $1,000 with a Visa or MastercardNone - Monthly fees: $18, avoidable
- Early account termination fee: Bonus forfeit, six months
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- State Bank of India (California) is offering a $150 checking bonus when you open a new checking and complete the following requirements for three consecutive statement cycles within five statement cycles from the date of opening:
- At least 1 Direct Deposit of $500.00 or more from pension, credit of your salary, Social Security or other regular monthly income (for 3 consecutive statement cycles).
- At least 2 Point-of-sale (POS) debit transactions (for 3 consecutive statement cycles).
- Register for eStatements after enrolling in State Bank of India (California)’s Consumer Online Banking Service.
The Fine Print
- If your account meets all the required conditions above, the account is eligible to receive a one-time $150.00 reward credit after 120 days.
- Reward will be credited to the account at the end of fifth statement cycle. If your account is closed before the credit is applied, you will forfeit the $150.00 reward credit.
- Reward credit is available to new consumer customers only.
- Reward credit is available to new consumer customers only. A new consumer customer is defined as an individual who has not maintained an account with State Bank of India (California) within the past 90 days. Consumers can only receive one reward credit every two years from the date of the initial account was closed.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has a $18 monthly fee. This is waived if you do any of the following:
- Minimum Daily Balance of $2,000 in the account or
- Combined Daily Balance of $7,500 in consumer linked checking or savings deposit accounts
Early Account Termination Fee
You forfeit the bonus if the account is closed before the bonus posts. Should post at the end of the fifth statement cycle.
Our Verdict
A lot of requirements and they need to be done for three statement cycles to get the bonus. It also isn’t so easy to keep the account fee free. That being said there is a nice $1,000 in credit card funding and people in California are always complaining there aren’t enough bank bonuses in that area so I will be adding this to the best checking bonuses.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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Here’s another one for california maybe?
https://www.premiervalleybank.com/checking-accounts
Premier Valley Bank from above:
That looks like a good one. Early termination fee only before 90 days.
One dd of $500. If I pursue I will try to determine cc funding. Also no min balance and no fees. Must enroll in estatements. Bonus is $200, ($170 for the DD and $30 for the estatements.)
Will:
Can you write this one up with credit to jason?
Thanks, it’s already written up but a bit hard to find: https://www.doctorofcredit.com/il-ia-wi-bank-trust-200-checking-bonus/
This one is also not all of CA. Im in San Diego and it is outside their area.
What error message did you get?
For Premier Valley Bank, error code was
“We apologize, but you entered an ineligible zip code that is currently outside of market area.”
Used a central San Diego zip.
Have you tried opening the account in person @ their 9494 Black Mountain Rd Ste E, San Diego, CA 92126 branch?
These questions relate to Premiere, not Bank of India (a weird subthread happened). Bank of India does have an office in SD and can be opened with a SD address. Premiere is in Central Cal and has geographic limits. I went into the branch to open an account, but that involved being in Central California.
No CC funding. I asked yesterday. They can do a cash advance, blah blah blah. So, no.
The website seems broken for me. Anyone else able to apply online?
150 on 2k for 6 months is pretty good, 15%. 2 debits a month for 3 months is NBD, too. Not a large bonus, but worthwhile for us Californians if we can, I think. Interested to hear DPs on chex/pull.
Maybe this is because I’m trying through my work VPN, but clicking apply now yields:
SRVE0255E: A WebGroup/Virtual Host to handle /olnas/OLNASServlet/StappsApp has not been defined.
SRVE0255E: A WebGroup/Virtual Host to handle onlineapps.ibanking-services.com:80 has not been defined.
IBM WebSphere Application Server
This bank is the national bank of India. If you do join, please expect issues to be present.
IKR? Lol
This is a nationalized bank. Not national bank. There is a difference.
I am a customer and had no issues. I don’t think suggesting people should ‘expect issues’ is helpful. If you’re not a customer, you can’t actually know what someone’s experience will be.
Encountering same errors myself, no VPN
saw those errors myself but after 3 or 4 times clicking the apply now button, it’s finally going through. so just keep trying. *i didn’t go through with the app though.
BTW, I bank with them in India, and would like to point out that their customer service and technology stack are a giant pain.
YMMV.
Do you have Aadhar linked to your SBI?
lol 🙂
Opening this account makes sense only if you have an NRO account with the SBI’s india counterpart, else too much hassle for $150.
I headed over to the website and my browser security feature told me that this bank’s website is not secure. For those of you who are tech savvy, should I be concerned? I mean I’d like to open an account with them to test them out, but is it safe to send my personal sensitive info over like that?
That warning is on the offer page (link posted here) which is not a big deal. Since its just displaying the offer and its terms. But if you click Apply now it will open a new page which is secure. You will not get the same warning there.
Thanks Ron! I just clicked on their application page and sure enough the page is showing ‘secure’
Is this really only for CA residents? Seems to be fully online application to me so where is this restriction enforced any idea ?
Be the DP you want to see =)
Did you think of this as a slogan for your website ?: Be the datapoint that you want to see 🙂
Haha more or less
Haha.. I am on the fence given that this is SBI it would be a giant pain in the wrong place to close the account remotely.
I applied using VA address, the phone rep said it should work fine.
I would run away from SBI as fast as I can. It is govt of India bank and huge pain in the ass.
Took some phone calls to unlock account but everything seems fine so far. Not bad for 3k CC funding
I’m an actual customer of the bank and have had no issues. No need to run away and they haven’t been a pain in the ass.
Figured I would sign up for this yesterday. No hard pull. 3k in credit card funding done via Visa or Mastercard (I chose CFU). 3k charge shows as pending on online banking. Received a call today from the bank to verify my details and debit card should arrive in 3 weeks.
In-state?
Yes I am in CA. My 3k credit charge still pending.
Did you reduce the cash advance limit on the card or just went ahead with the funding? Please give some insights.
I always reduce cash advance before trying.
I will tell you that CITI AA business declined my original attempt. Chase went through fine
Did you get the citi biz to eventually work?
Are you able to access online banking before getting the debit card?
Yes online banking is seperate from debit card
3k credit card funding visa or mastercard, soft inquiry, chexsystems
Also in state?
And what part of the state, roughly?
Los Angeles
Still pending 3k funding
What card did you use
Do you need debit card to get online access?
No debit card needed for online access.
Used Chase Sapphire. Just posted 3k as purchase
Chase Sapphire Preferred*
anyone tried to open this account out of state? Please share ur dp..I am waiting for my new CC to arrive and will gladly try if no one has signed up till then.
People who have opened the account – do you have problems with accessing the Online Banking? It prompts to send the activation code during logging in, but the last 4 of the 2 phone numbers listed there are completely random, not the numbers on file. They have an option to enter the phone number but using that option gives the error of ‘phone number not on file’. Unable to login to the account.
You need to call. This happened to me too because they locked my online account. Needed to verify some info before unlocking.
If anyone figures out how to get this on MINT, it would be appreciated.
I sent in a request to MINT but they take forever for everything
There is a State Bank of India in the Mint app, are you not seeing it?
State bank of India is different from State bank of india (California)
One of the managers contacted me via email and asked for photo id due to my extensive “inquiries” in Chexsystems. They kept the account open but they definitely check Chexsystems. YMMV
Does anyone know what the routing number is?
A quick google search shows 4 different ones.
122039344
thanks! somehow this is not available anywhere on my online banking. routing and account number for that matter. kinda weird. *account number was given after online approval. so take note of that. i guess one can always call and ask but that defeats the purpose of ONLINE banking. O.o lulz!