Deal has ended, view more bank account bonuses by clicking here.
Update 7/24/20: Deal is back and valid until September 30, 2020. More people have been targeted.
Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â Nationwide but targeted
- Deposit required:Â $20,000
- Hard/soft pull:Â Soft
- ChexSystems:Â Yes
- Credit card funding:Â None, but you can fund with a debit card up to $250
- Monthly fees:Â $5-12, avoidable
- Early account termination fee:Â None listed
- Household limit:Â None listed
- Expiration date: January 31st, 2020
Contents
The Offer
- Bank of America is offering a $250 savings bonus when you open a new savings account and complete the following requirements:
- Deposit $20,000 within 30 days of account opening
- Maintain that balance for at least 90 days
Avoiding Fees
There is no early account termination fee.
Regular Savings $5 Monthly Fee
The monthly fee on this account is waived if you do any of the following:
- Maintain a minimum daily balance of at least $500
- Link your Bank of America Interest Checking to Regular Savings account
- When you are a Bank of America Preferred Rewards client
- Make combined monthly automatic transfers of $25 or more from your Bank of America checking account to savings account
Bank of America Rewards Money $12 Monthly Fee
The monthly fee on this account is waived if you do any of the following:
- Maintain a minimum daily balance of at least $2,500
- Link your Bank of America Interest Checking to Regular Savings account
- When you are a Bank of America Preferred Rewards client
Our Verdict
Both of the accounts basically earn 0% interest (0.01 or 0.03% maximum) so it’s really $250 for depositing $20,000 for 90 days, works out to be a return of roughly 5%. Better than the previous savings bonus for up to $500, shame it’s targeted but might be worth doing if you’ve already done the better savings account bonuses.
