Update 12/1/24: Extended to March 31, 2025
Update 7/8/24: Extended to Sept 30th November 30, 2024
Update 6/18/24: Deal is back and valid until Jul 31, 2024.
The Offer
- Moomoo is offering 5.1% APY interest rate + bonus 3% during the first 3 months for new users who have never made a deposit before. Requires activation.
The Fine Print
- The promotional 8.1% APY rate (as of 01/11/24) is for new users who have never made a deposit before. The Base Rate is 5.1% APY, plus a 3% temporary boost is available once the coupon is activated. Actual APY earned may differ as the base rate may change. Moomoo is not a bank.
-
APY Booster Rate is effective for 3 months on up to $20,000 in the Cash Sweep Program once coupon is activated.
Our Verdict
Could be a solid offer for someone with cash on hand. This basically maxes out at a .75% bonus. (3 months is .25% of a year @ 3% = .75%; assuming your money would have otherwise been earning 5.1% – see this post for Best Savings rates.) The fine print does limit the 8.1% promo rate to $20,000, and the gain from this deal is limited.
Moomoo holds the funds at partner FDIC insured banks. We’ve written about Moomoo before for some of their other offers.
