Deal has expired, view more bank account bonuses by clicking here
Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â PA only
- Deposit required: $10,000 for six months
- APY: 1.5%
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Bonus forfeit, six months
- Household limit:Â Â None listed
- Expiration date:Â February 29th, 2020
Contents
The Offer
- ESSA Bank & Trust is offering a $200 bonus when you open a new premium savings account and complete the following requirements:
- Deposit $10,000 or more in new money within 15 business days
- Maintain a minimum balance of $10,000 for six months
The Fine Print
- Maximum of one bonus offer per individual (determined by account owner’s tax identification number).
- Offer not available to customers whose accounts have been closed within the last 12 months due to a negative balance.
- Offer also not available to customers who have closed an existing account within the last 90 days.
- Bonus will be paid after 90 days and credited within the next statement cycle
- . If account is closed within six months after opening, bonus amount will be deducted at closing.
- The value of the bonus will be reported on IRS Form 1099 INT. Consult your tax advisor.
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
Bonus is forfeit if the account is closed within six months of account opening
Our Verdict
This account also earns 1.5% APY. During the six month period you’d earn the $200 bonus and then another $75 from the interest for a total of $275, that works out to be an annualized return of 5.5%. Definitely worth doing for those with some spare funds chasing a high rate if it’s a soft pull. We will add this to our list of the best savings account bonuses.
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
