Updates
Update 10/3/25: Deal is back until 11/30/25 and found under special deals & offers.
Update 3/20/25: New variation: $250 bonus for $20,000 deposit, $500 for $50,000 deposit, and $1,000 for $100,000 deposit. Hat tip to RM.
Offer at a glance
| Item | Details |
|---|---|
| Maximum bonus amount | $750 |
| Availability | Nationwide |
| APY | 0.01% |
| Deposit required | $20,000 – $100,000 |
| Hard/soft pull | Soft |
| ChexSystems | Unknown |
| Credit card funding | None, but can fund with a debit card up to $300 |
| Monthly fees | None |
| Early account termination fee | None |
| Household limit | None listed |
| Expiration date | September 30, 2024 |
The Offer
Direct link to offer. Must have received the e-mail though. Subject line is ‘<name>, get up to a $750 cash bonus’.
- Bank of America is offering a savings bonus of up to $750.
- Open a Bank of America Savings account if you don’t have one already.
- Enroll in this bonus.
- Within 30 days of enrollment deposit new money.
- Deposit $20,000, $250 bonus tier.
- Deposit $50,000, $500 bonus tier.
- Deposit $100,000, $750 bonus tier.
Maintain that balance in your savings account from 31 through 90 days after enrollment.
The Fine Print
- Offer is limited to individuals who receive the offer via a direct communication from Bank of America.
- Fiduciary accounts (e.g., trusts), business accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs) are not eligible for this offer.
- Offer cannot be combined with any other savings bonus offer and is limited to one bonus per account and per customer.
- Offer expires on September 15, 2024.
- Bank of America may change or discontinue this offer at any time before this date without notice.
- Enroll in this offer through a Bank of America associate or by clicking the enrollment button or link in a direct communication from Bank of America by September 15, 2024.
- Deposit New Money directly into your new or existing personal savings account within thirty (30) days of enrolling (the “Deposit Period”).
- 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
- There is no early account termination fee.
Final Words
This account earns 0.01% APY. At minimum you’ll need to maintain the balance on this account for about 61 days (deposit on last day of the 30 day period and then hold until 90th day) but I think it’s safer to assume a 90 day hold period when all is said and done.
The $250 bonus is the best return and that works out to be an annualized return of 5%, as the bonuses increased that progressively gets worse (4% and then 3%).
Given the current high interest rates available this isn’t worth considering and we won’t be adding this to our best savings bonuses.
