[Expired] [Targeted] Bank of America $250 Savings Bonus

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: $250
• Availability: Nationwide but targeted
• Deposit required: $20,000
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None, but you can fund with a debit card up to $250
• Monthly fees: $5-12, avoidable
• Early account termination fee: None listed
• Household limit: None listed
• Expiration date: January 31st, 2020

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.