Axos Bank Offers $100 Bonus and 1.25% APY for New Checking Accounts
Axos Bank has a bonus for new customers who open a checking account. You can get $100 in cash and also earn a 1.25% annual percentage yield (APY) on your balance. This is a decent bonus but there’s a direct deposit requirement for the bonus and the interest rate. The offer is available nationwide so anyone can apply and you can do so online. Let’s see the details.
The Offer
To receive a $100 Bonus you need to open a new Axos Bank Rewards Checking account with promotional code “RC100″ by 12/31/2022. Additionally, you must:
- have qualifying direct deposit(s) that total at least $1,500.00 within a single calendar month during the first three (3) calendar months your account is open, including the month in which your account was opened.
All eligible awards will be delivered to your Rewards Checking account within 30 days following the 90-day waiting period. Account must remain open for 180 days or an early closure fee of $50 may apply.
To earn the 1.25% APY you need to have:
- direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. A qualifying direct deposit is required for the remaining interest rate qualifications to apply.
- Ten (10) point-of-sale transactions per month using your Rewards Checking Visa® Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%;
- maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 0.20%;
- maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 0.20%;
- and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.15%.
Conclusion
With this new offer from Axos Bank you can earn a $100 bonus when you open a checking account and also get up to a 1.25% APY. You need to complete direct deposits for both parts of the offer and there are some more requirements to earn the 1.25% rate.
The offer is available nationwide and account can be opened online. There are no monthly maintenance fees, but the account must remain open for 180 days or an early closure fee of $50 may apply.
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