[Updated 9/4/15]
Upromise 10% Match
Sallie Mae offers a high-yield savings account which is available for anyone and currently offers an interest rate of .8% APY. The main reason to want this account is because you’ll then be able to become eligible for the 10% bonus on all the earnings you got through the Upromise shopping portal. You do need to make monthly $25 deposits into the savings account or maintain a $5,000 balance to be eligible for the 10% bonus.
$10 and $100 Goalsaver Bonus
Upromise has now has a Goalsaver savings account which offers a bonus of $10 and $100 for Savings account customers. This is aside from the 10% Upromise bonus.
- Receive a $10 bonus at your anniversary if you make  monthly deposits of $10 or more into the savings account regular deposits. (You are allowed to miss 2 out of the 12 months and still receive the bonus.)
- Receive $100 bonus at your 3-year anniversary so long as you reach a $5,000 balance by the time of the third anniversary. (You also need to maintain at least $.01 the whole three years.)
Bonuses will post within 60 days of the anniversary date.
Our Verdict
This offer isn’t too enticing for someone who otherwise has nothing to do with Upromise, but if you’re interested in the savings account for the 10% Upromise portal match, then you can get a $10 bonus annually by making deposits of $10 per month. You can automate this very easily by sending a monthly recurring transfer of $10 from your regular checking account.
The $100 bonus is likewise great; all you have to do, apparently, is top up your Upromise savings account to a $5,000 balance on the day before your third anniversary and you’ll receive a $100 bonus. Be sure to mark on your calendar a few weeks before your third anniversary to transfer the funds over and get this easy bonus. The terms sound like you can pull the money out immediately – it just has to be there on the date of your third anniversary.
