Update 10/24/24: Can stack this with another $150 bonus from bankbonus.com
Update: As the comments point out, not worth it as you need a $70,000 balance to get the $375 bonus. Otherwise it’s only $225.
Offer at a glance
- Maximum bonus amount: $375
- Availability: Nationwide
- Deposit required: $30,000
- APY: 4% APY
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: No
- Monthly fees: None
- Early account termination fee: $50, 180 days
- Household limit: None listed
- Expiration date: 12/31/24
The Offer
- Axos Bank is offering a business savings bonus of up to $375. Earn a $75 monthly bonus when you have an average daily balance of $30,000+ or have an average balance of $75,000 to earn $125. Must use promo code BPS375
The Fine Print
- 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
Account must be kept open for 180 days otherwise a $50 fee will apply.
Our Verdict
Update: As the comments point out, not worth it as you need a $70,000 balance to get the $375 bonus. Otherwise it’s only $225.
If you have exactly $30,000 in the account this works out to be 7% APY with the 4% base rate and the $75 monthly bonus. Worth considering especially with rates falling if you have a large balance that you’d like to tie up for a few months.
Hat tip to Dane
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