[Expired] Chase $200 Savings Bonus - Available Online

[9/25/17 updated as expired.]

Offer at a glance

Maximum bonus amount: $200
Availability: Nationwide (although in past experience still doesn’t work in all states)
Deposit required: $15,000
Deposit length: 90 days
Hard/soft pull: Soft
ChexSystems: No
Credit card funding: Up to $500, but everything will code as a cash advance
Monthly fees: None
Early account termination fee: Six months, bonus forfeit
Household limit: None listed
Expiration date: September 28th, 2017

Contents

The Offer

Chase is offering a $200 bonus when you open a new Chase savings account and deposit $15,000 or more in new money within 10 business days and maintain a $15,00 balance for 90 days

Savings offer is not available to existing Chase savings customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.
To receive the bonus: 1) Open a new Chase SavingsSM account, which is subject to approval; 2) Deposit a total of $15,000 or more in new money within 10 business days of account opening; AND 3) Maintain at least a $15,000 balance for 90 days from the date of deposit.
The new money cannot be funds held by Chase or its affiliates.
After you have completed all the above savings requirements, we’ll deposit the bonus in your new account within 10 business days. You can only receive one new savings account-related bonus per calendar year and only one bonus per account. The bonus is considered interest and will be reported on IRS Form 1099-INT.
If the savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount at closing
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Account needs to be kept open for six months, otherwise you forfeit the $200 bonus.

The Chase Savings account has a $5 monthly fee and this is waived if you do any of the following:

Keep a minimum daily balance of $300 or more in your savings account
Have at least one repeating automatic transfer of $25 or more from your Chase personal checking account (available only through Chase OnlineSM Banking)
Have a linked Chase Premier Plus CheckingSM, Chase Premier Platinum CheckingSM, or Chase Private Client CheckingSM account

This bonus is almost always available when they are offering $300 for opening the checking account as well. The advantage to this specific offer is that the account can be opened online rather than having to open the account in branch (it’s also been possible in the past to do this with the $300 checking offer, but it required offer the Premier checking account instead of total checking and that is more difficult to keep fee free. But you can downgrade it to the total checking account). The APY on this account is 0.01% so you’re basically getting $200 in interest for depositing $15,000 and maintaining it for 90 days, that works out to be an APY of 5.45%. Definitely higher than most high yield savings accounts, just keep in mind you’re only getting that for the 90 day period and then the account is basically worthless. Still one of the best savings account sign up bonuses currently available. Chase also have another $150 savings bonus that only requires $10,000 to be deposited for 90 days.

Useful posts regarding bank bonuses: