Posted by William Charles on July 24, 2018
Bank Account Bonuses

Published on July 24th, 2018 | by William Charles

212

[CA only] State Bank Of India (California) $150 Checking Bonus

Offer at a glance

The Offer

Direct link to 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.
  • 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.
  • 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:



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Jason
Jason

Here’s another one for california maybe?
https://www.premiervalleybank.com/checking-accounts

Bob
Bob

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?

asiansti@gmail.com
asiansti@gmail.com

The website seems broken for me. Anyone else able to apply online?

u/closertothesunNA
u/closertothesunNA

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

Sahil
Sahil

This bank is the national bank of India. If you do join, please expect issues to be present.

DD
DD

IKR? Lol

MKD
MKD

This is a nationalized bank. Not national bank. There is a difference.

Jim
Jim

Encountering same errors myself, no VPN

kirk
kirk

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.

Butterchurn
Butterchurn

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.

Ron
Ron

Do you have Aadhar linked to your SBI?

Ranga
Ranga

lol 🙂

Vall
Vall

Opening this account makes sense only if you have an NRO account with the SBI’s india counterpart, else too much hassle for $150.

SS
SS

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?

Ron
Ron

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.

SS
SS

Thanks Ron! I just clicked on their application page and sure enough the page is showing ‘secure’

Ron
Ron

Is this really only for CA residents? Seems to be fully online application to me so where is this restriction enforced any idea ?

bob
bob

I applied using VA address, the phone rep said it should work fine.

SR
SR

I would run away from SBI as fast as I can. It is govt of India bank and huge pain in the ass.

Alex
Alex

Took some phone calls to unlock account but everything seems fine so far. Not bad for 3k CC funding

Andrew
Andrew

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.

Yosh
Yosh

In-state?

Andrew
Andrew

Yes I am in CA. My 3k credit charge still pending.

Nvtech
Nvtech

Did you reduce the cash advance limit on the card or just went ahead with the funding? Please give some insights.

Alex
Alex

I always reduce cash advance before trying.

I will tell you that CITI AA business declined my original attempt. Chase went through fine

Eric
Eric

Did you get the citi biz to eventually work?

T
T

Are you able to access online banking before getting the debit card?

Alex
Alex

Yes online banking is seperate from debit card

Alex
Alex

3k credit card funding visa or mastercard, soft inquiry, chexsystems

AC
AC

Also in state?

ChocoHobo
ChocoHobo

And what part of the state, roughly?

Alex
Alex

Los Angeles

Alex
Alex

Still pending 3k funding

Tpw
Tpw

What card did you use

T
T

Do you need debit card to get online access?

Alex
Alex

No debit card needed for online access.

Used Chase Sapphire. Just posted 3k as purchase

Alex
Alex

Chase Sapphire Preferred*

el_pistolero
el_pistolero

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.

Skor
Skor

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.

Alex
Alex

You need to call. This happened to me too because they locked my online account. Needed to verify some info before unlocking.

Alex
Alex

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

RP
RP

There is a State Bank of India in the Mint app, are you not seeing it?

Alex
Alex

State bank of India is different from State bank of india (California)

Alex
Alex

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

britchurner
britchurner

Does anyone know what the routing number is?
A quick google search shows 4 different ones.

Alex
Alex

122039344

kirk
kirk

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!

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