Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $700
- Availability: Any person who is a regular member of the Shia Ismaili Nizari Muslim faith who attends any of the Jamat Khanas located in the United States of America, spouses of persons who died while within the credit union’s field of membership, employees of the credit union, any immediate family member of a credit union member, and organizations of such persons. Except for persons joining as primary members, non-Shia Imami Ismaili Nizari Muslim persons may qualify for membership under the other categories of eligibility.
- Direct deposit required: $2,500+
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: September 30th, 2025
Contents
The Offer
- Nizari Progressive Federal Credit Union is offering a bonus of $50-$700. Requires a direct deposit of $2,500. Tiers are based on your initial deposit
- Tier 1 ($50 bonus): Deposit $500-$10,000+
- Tier 2 ($200 bonus): Deposit $10,001-$20,000+
- Tier 3 ($300 bonus): Deposit $20,001-$30,000+
- Tier 4 ($450 bonus): Deposit $30,001-$40,000+
- Tier 5 ($600 bonus): Deposit $40,001-$50,000+
- Tier 6 ($700 bonus): Deposit $50,000+
The Fine Print
- To qualify for the cash bonus, you must become Nizari PFCU Primary Member (Click here to view the member eligibility and requirements) and then open a Checking Account, (Regular Checking Account or Ultimate Checking Account1) with the required deposit amount mentioned above. For the additional loan bonus, you need to apply for a loan that must be disbursed between July 1, 2025, and September 30, 2025.
- To qualify, the member must be a new Nizari checking account holder and have not held a consumer checking account with Nizari within the past twelve (12) months.
- The opening deposit must consist of new funds transferred from a financial institution other than Nizari PFCU.
- Additionally, the member must make qualifying electronic deposits totaling at least $2,500 within ninety (90) days of the account opening (the “qualifying period”).
- A qualifying electronic deposit is a deposit of funds, such as your salary, government benefit payment, or other income, that has been posted to your account and is (1) a direct deposit made through the Automated Clearing House (ACH) network. (2) an instant payment processed through the RTP network (real-time payment system) or (3) an electronic credit from a third-party service that facilitates payments to your debit card using the Visa or Mastercard network (e.g., an Original Credit Transaction).
- Transfers from one account to another, mobile deposits, Zelle®, or deposits made at a branch or ATM are not considered a qualifying electronic deposit.
- An ACH direct deposit made available early with Early Pay Day does not count toward the bonus requirements until it posts to your account and is no longer pending (e.g., scheduled payment date).
- After the 90-day qualification period, if you have met all requirements, we will deposit the bonus into your new account within 30 calendar days.
- Your new account must stay open through the time we attempt to deposit the bonus.
- We may close accounts with a zero balance without prior notice.
- You are responsible for any taxes due on the bonus.
- We will report the bonus as income to tax authorities, as required by applicable law.
- If you are subject to backup withholding at the time of payment, we may withhold the required amount and remit to tax authorities.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
Terms are a bit confusing to me as it talks about a 90 day qualification period, but it isn’t clear if that’s just the timeframe for receiving the direct deposit or initial deposit also needs to be held for 90 days. I suspect most readers won’t be eligible anyway but if somebody decides to go for it then please share your experiences in the comments below.
Hat tip to ShawntheShawn
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
