Despite an abysmal interest rate environment for savers in 2021, there are still a handful of banks (and one credit union) offering sign-up bonuses of up to a few hundred dollars that could help make up for lackluster yields.
APYGUY scans hundreds of bonus offers every month by both banks and credit unions. We’ve compiled a list of the best savings account bonuses to start the year (below) and outlined the requirements needed to cash in on them.
These are cash bonuses that are deposited to your account generally after completing a few qualifying actions and/or conditions. Please note that, at the moment, many of these actions require you to ALSO open a checking account in order to receive the cash bonus.
|Bank or Credit Union||Cash Bonus||Time + Money Required||Ends|
|Citibank||$700||60 days + $50k||4/1/21|
|PNC Bank||$400||60 days + $5k/mo||2/1/21|
|Regions Bank||$100||12 months + $10k||?|
|Central Bank of Kansas City||$125||30 days + $105k||1/31/21|
|Marcus by Goldman Sachs||$100||90 days + $10k||2/2/21|
|Alliant Credit Union||$100||12 months + $1,200||3/31/21|
All of the banks and credit unions featured in this list are member FDIC (or NCUA for credit unions) and your funds are insured up to the applicable limits.
Citibank – Up to $700 for New Checking + Savings Accounts
How to get it: Open both a checking and savings account within the Citi Priority Account Package and fund it with a minimum of $50,000.
This money must be new to Citibank and cannot be pulled from other Citi accounts. The funds must enter the account within 30 days, but can be deposited and held in either the checking or savings account. You also must maintain this $50k balance between the two accounts for at least 60 days.
Who can get it: If you have not been a Citibank customer within the last 180 days you are eligible for this bonus.
More details: This is a premium account package that features wealth management and other investment resources. You can also open a standard Citibank Account Package that comes with a checking and savings account but only requires a minimum of $15,000 to fund. The cash bonus featured with that offer is just $300.
Please note that the Citi accelerate savings account is not eligible for this bonus offer. The Citi accelerate savings account currently has the highest APY of any Citibank account.
Fees: Not only is the $50k balance required for your cash bonus, but it is also required to avoid a hefty $30/month fee. For the standard Citibank Account Package featuring the $300 bonus, the minimum balance requirement is just $10,000 spread between both accounts to avoid a $25 monthly service fee.
Offer Ends: April 1, 2021.
PNC Bank – $400 for Virtual Wallet with Performance Select accounts
How to get it: Depends on where you live and which bonus you want to cash in on. There are currently three bonuses available with PNC Bank for new account holders. These are:
- The Virtual Wallet with Performance Select. Open the Virtual Wallet with Performance select and set up recurring direct deposit(s) of at least $5,000 per month within 60 days and receive $400. Recurring direct deposits can be from employment, social security, pension, or any recurring monthly payments.
- The Virtual Wallet with Performance Spend. Open this account and set up recurring direct deposit(s) of at least $2,000 per month within 60 days and receive $200.
- Just the Virtual Wallet. Open this account and set up recurring direct deposit(s) of at least $500 per month within 60 days and receive $50.
Who can get it: If you have not been a PNC Bank customer within the last 90 days AND have not been paid a promotional bonus in the past 12 months by PNC Bank, then you are eligible for this bonus.
More details: The Performance Select account is the premium Virtual Wallet product from PNC Bank. The checking side of this product earns an interest rate as well as the savings side. Both APYs are just 0.01% currently unless you are eligible for relationship rates.
The bonus offer can be redeemed online or in a local branch.
Fees: There are monthly service fees that can be waived on each of these three accounts. The month fees are $7, $15 and $25 for the Virtual Wallet, Performance Spend and Performance Select, respectively. These fees can be waived in a number of ways. Download full PDF details here.
Offer Ends: February 1, 2021.
Regions Bank LifeGreen Savings – $100 Annual Bonus
The Region’s Bank LifeGreen Savings account and bonus is unique in that it is an annual bonus that can be cashed-in repeatedly. There are also no minimum balance requirements or monthly fees.
How to get it: First, you must open a Regions checking account if you do not already have one. Then, to qualify for the annual bonus you must set up and receive automatic transfers of at least $10 per month from the Regions checking account. Regions bank will give you a little wiggle room if you can’t make the transfer every single month, but you must make it at least 10 out of the 12 months following the account opening.
Who can get it: Any Regions Bank checking account holder. LifeSavings accounts cannot be opened without a Regions checking account first.
More details: As mentioned there are no monthly fees or minimum balance requirements. The APY paid on this account is currently 0.01% on all balances. To get started, you’ll have to open the account with at least $5.00. The bonus is 1% of your balance up to $100. Your bonus will be based on the average monthly balance for the 12 calendar months before your account anniversary.
Fees: There are no monthly service fees, but you will need to hold at least $10,000 in the LifeGreen Savings to earn the $100 annual bonus.
Offer Ends: Unknown.
Central Bank of Kansas City – $125 Bonus with High Yield Savings Account
The Central Bank of Kansas City’s High Yield Savings Account is a product that must be opened through SaveBetter similarly to the Ponce Bank High Yield Savings account we covered a little while back. This account features a bonus without the requirement of opening any checking account.
How to get it: Navigate to this product via the SaveBetter website here. You can then open Kansas City’s High-yield Savings product online. You must deposit a minimum of $5,000 to start earning a bonus. You will then receive $25 on your first $5,000 deposit and an additional bonus of $5 for each subsequent $5,000 that you deposit up to $125. When all is said and done, you will have needed to deposit a total of $105,000 into this account to capture the entire $125 bonus.
Who can get it: Anyone over the age of 18 with valid ID.
More details: The bonus cash will be deposited into your account within 30 days of qualifying for the offer.
Fees: There are no monthly service fees, but you will need to deposit a minimum of $105,000 for the full $125 bonus based on the current offer rules.
Offer Ends: January 31, 2021.
Marcus by Goldman Sachs – $100 for new Online Savings Account + 0.50% APY
Even though this savings account bonus isn’t the highest bounty available, it’s probably one of the easiest to attain.
How to get it: Navigate here and open the Marcus Bank online savings account. You will need to deposit at least $10,000 in new funds to the bank and maintain the balance for at least 90 days. Within 14 days after meeting this requirement, Marcus Bank will deposit $100 in cash to your account.
Who can get it: Anyone over the age of 18 with valid ID.
More details: The bonus cash will be deposited into your account within 14 days of fulfilling the requirements. This bonus is also available to current Marcus Bank online savings account holders, however they must deposit at least $10,000 in new funds to the existing account.
Fees: There are no monthly service fees, but you will need to add $10k to a new or existing Marcus Bank online savings account.
Offer Ends: February 2, 2021.
Alliant Credit Union – $100 Bonus Ultimate Opportunity Savings Account
Here is another phenomenal savings account bonus that is coupled together with an already extremely competitive APY.
The Alliant Credit Union Ultimate Savings Account is currently providing a $100 bonus for new customers on top of an APY of 0.55%.
How to get it: Navigate here and open an Alliant Credit Union Ultimate Opportunity Savings account. online savings account. Deposit at least $100 a month, for 12 consecutive months, into the account and earn a $100 bonus on top of the 0.55% APY.
Who can get it: Anyone who joins Alliant Credit Union. If you are not eligible through the standard options, Alliant will allow you to join by first becoming a member of Foster Care to Success. You can read more about eligibility here.
More details: The bonus cash will automatically be deposited into your account after completing the 12th consecutive deposit with a total of at least $1,200 in your year old savings account.
Fees: There are no monthly service fees, but you need to join Alliant Credit Union and make 12 months worth of qualifying deposits before earning the bonus.
Offer Ends: March 31, 2021.
APYGUY monitors hundreds of federally insured banks and credit unions each month. Our system is pinged any time rates, bonus offers, balance requirements, and TOS changes are made (among other factors). The methodology we used to compile this list takes into account the most recent pings to our system and evaluates three primary variables:
- Cash Bonus. How much money can be earned with the savings account bonus?
- Time. How much time does it take for you to capture the bonus?
- Investment. How much money do you need to commit to capture the full bonus?
Based on these variables, we published this report for January of 2021. We will do our best to update this list at least once per month. The offers are all accurate as per the publish date of this article.