The Offer
- Rakuten is offering $100/10,000 when you click through and open a Synchrony High Yield Savings Account.
- Must deposit $1,000 or more within 55 days. (No holding time requirement mentioned.)
The Fine Print
- Cash Back is provided by Rakuten, not Synchrony Bank.
- Cash Back is only available for new Synchrony Bank accountholders who do not have any active Synchrony Bank deposit accounts and all funds deposited must come from an external source and not from any funds currently on deposit at Synchrony Bank.
- Rakuten member must click and apply directly through the Rakuten link, open a new Synchrony Bank High Yield Savings account and fund the account with a minimum of $1,000.00 within 55 calendar days of opening the account to qualify.
- Cash Back reward is limited to one per Rakuten member.
- Synchrony Bank account will be reviewed to determine eligibility for Cash Back. Account application is subject to approval by Synchrony Bank. Synchrony Bank reserves the right to discontinue or modify the terms of the Synchrony Bank High Yield Savings account promo at any time without prior notice.
Our Verdict
Easy $100 bonus. $100 bonus is the bare minimum we talk about when it comes to bank bonuses. In this case it’s made better by the fact that the points can be received as MR/Bilt points which some value more.
Also worth noting that there won’t be a Form 1099 from the bank for this bonus, though it’s possible Rakuten will send a tax form (probably only if you get $2,000+ in total bonuses throughout the calendar year). This does not have an impact on tax liability, but worth noting regardless.
The Synchrony High Yield Savings Account itself is something worth considering if you don’t have a good high yield account. There are a bunch of other accounts with better rates, but Synchrony High Yield Savings is consistent in offering a good interest rate (their current rate 10/26/26 is 3.55%).
Note: they do a Chex inquiry. And they are Chex sensitive, per reader reports.
If you are new to Rakuten, sign up first via referral link for an extra $50 bonus – see this post for full details.
Hat tip to reader Pras
