Offer Details
Written by: RJ
Requirements
- Open a new savings account
- $100 opening deposit
- Deposit $35k by 12/31/24
- Maintain balance until 3/21/25
- Bonus posts by 6/30/25
Eligibility
- Nationwide
- Existing Ameriprise clients as of 9/30/24
- Can’t have received a bonus in the past 18 months
Fees
- Savings account is fee free
Account Closure
- No rule listed
Chex
- Not sure
Valid through: 12/31/25
Notes
Last time you need to have an advisor open an account for you. Then you could apply for the savings account.
Thoughts
Last go around was for $500 for $25k, however that offer had a lockup period of 6 months. This offer isn’t bad considering the 4% APY.
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Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
Getting around 7% APY, adding 15 extra cushion days. https://cashbackcow.io/calculators/effective-apy-calculator/?invest=25000&sub=500&daysreq=182&daysbuf=15&fees=&interest=3.25
Ran the current promo through an APY calculator.
Days between 8/30/24 and 2/28/25 = 182.
At 3% APY and $500 sign up bonus, looks like effective APY of 7.21%
They kinda fixed their process now, they have a pre-application form you fill out and email over to them to process. Once they review and process it (7-10 days) then you can apply for an account. I sent in the form but if you are reading this now, it might be out of time to be able to get the account open and to land the $25K by 10/31 to be able to satisfy this.
I forgot about this one lol. My Huntington $20k should be coming up soon. I might still try this. Have to go with the phone call I suppose. Thanks for the reminder sir
Hey, RJ. Just trying to reproduce your math. $500 “interest” on a $25k interest for 2 months represents a 12.6% APY. Right?
This looks like a pretty solid offer.
The 3.25% APY I listed is what Ameriprise gives for balances of $25k+. Since you get the $500 plus an ok rate (though not competitive for the times) it turns out to be a good offer. Given a 2 month lock up period.