Minimum $1000 deposit.
Must make deposit by 3/31/20
Must stay in account until 6/30/20
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I wonder if this is indicative of either outflows, bad investments on their part, or seeing their stress formulae come under pressure.
Decent deal. Per doctorofcredit:
“…Best case scenario with this promotion you need the funds in the account for three months, making it an additional 4% APY. I think it’s better to assume you’ll have the funds in there for a total of 4 months (lets you fund a bit earlier and gives you time to withdraw funds etc), making it an additional 3%. Basically works out to be 4.5% APY during that period. With interest rates dropping across the board and a lot of uncertainty at the moment this going to be an attractive bonus…”
Looks like you can get the bonus with a no-penalty CD too, making for a total of up to 4.75% APY
CD APY:
1.70% w/ $5,000 minimum opening deposit
1.75% w/ $25,000 minimum opening deposit
- Deposit $25,000 to savings. Fine.
- Deposit $25,000 to checking. Does not count.
- Transfer $25,000 from checking to savings. Does not count.
- Withdraw $25,000 from savings.
Based on the rules, net deposit to savings for this bonus program is $0. Doesn’t make sense.
Available until 3/23 through this link:
Nevermind. It’s the same. The one through email has expiration date of 3/20.
Just received an email about the $250 bonus, to be deposited by 7/30. Not sure how I qualified according to the rules (large withdrawal on the day of the announcement), but OK.