Offer at a glance
- Interest Rate:Â 5% APY
- Minimum Balance:Â $5
- Maximum Balance:Â $6,000
- Availability:Â View requirements here, possibly anybody can join by becoming a member of a partner organization
- Direct deposit required:Â No
- Additional requirements:Â None, but maximum $500 deposit per month
- Hard/soft pull:Â Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Up to $100
- Monthly fees:Â None
- Insured:Â NCUA
The Offer
- Hanscom Federal Credit Union is offering 5% APY on balances up to $6,000
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees
Referral Bonus
You can also get a $30 referral bonus when using a referral link. Don’t share your referrals in the comments here, you can share them in this linked post here.
Our Verdict
This account is slightly different in that you can only transfer $5 – $500 per month and it matures after 12 month. At the end of the 12 months the funds automatically transfer to your savings account. You can ask them to keep this account open rather than having to open a new one but your balance will be back to $0.
Hat tip to reader Yuri
