The 20 Best Bank Promotions of February 2025

SoFi’s online bank account certainly rewards members for spending and saving. The account, which doubles as a checking and savings account, allows you to organize your savings into vaults so you can work toward your goals. You’ll earn up to 3.80% APY on money in savings and up to 0.50% on checking funds. The bonus is tiered; to get the full $300 bonus, make sure your qualifying direct deposits total $5,000 or more.

With Wealthfront, there are no bank fees and you get a 4.00% APY through partner banks on your cash — nearly 10x the national average savings rate.¹

Get unlimited transfers, same-day withdrawals, zero account fees, and no minimum balance requirements to earn 4.00% APY. You can use Wealthfront with payment apps like Apple Pay, Venmo, and Google Pay.

They’ll also give you access to a customizable investment portal so you can start building wealth while focusing on your short- and long-term goals.

Wealthfront isn’t quite a bank, but it works with several FDIC-insured partner banks to give you the convenience and flexibility you expect, minus the sneaky fees and account requirements. You can get started with Wealthfront with a $1 opening deposit or snag a $30 bonus² when you deposit $500 or more (terms and conditions apply).³

1. Based on the national average interest rate for savings accounts as posted on FDIC.gov, as of September 15, 2024). FDIC coverage will remain at up to $8 million for individual Cash Accounts ($16M for joint accounts) through partner banks.

2.  Client must maintain $500 by the 30 day mark. See website for details. 

3. Checking features for the Cash Account are subject to identity verification by Green Dot Bank, Member FDIC. Cash account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”;), a Member of FINRA/SIPC. Wealthfront Brokerage is not a bank. We convey funds to partner banks who accept and maintain deposits, provide the interest rate, and provide FDIC insurance. The APY rate listed is as of 09/19/2024 and is subject to change at any time. Fees and Eligibility requirements may apply to certain checking features, please see the Deposit Account Agreement for details. Limits, fees, and exclusions apply. All investing involves risk, including the possible loss of money you invest.

Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.

Please note, Real-Time Payments (RTP) transfers may be limited by destination institutions,daily transaction caps, and by participating entities such as Wells Fargo and the RTP® Network. New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer. Wealthfront doesn’t charge for transfers, but receiving institutions may impose an RTP fee.

The Penny Hoarder receives compensation when a reader clicks on the referral link that redirects them to Wealthfront, which creates a conflict of interest. Penny Hoarder’s opinions in this article are their own and are not tied directly to such compensation. The Penny Hoarder and Wealthfront Brokerage, LLC are not associated with one another and have no formal relationship outside of this arrangement.

Capital One was one of the first major banks to do away with overdraft fees; in fact, the 360 Checking account has no hidden fees at all. It even earns 0.10% interest. There are no foreign transaction fees for the debit card, and you can open an account in as little as 5 minutes.

What makes E*TRADE Premium Savings great is there are no monthly fees to eat into your balance and no minimum deposit to get started. Plus, it’s managed all online and through the app.
So whether you’re saving for something big, building up an emergency fund, or just stashing cash for a rainy day, that 4.00% APY makes a real difference. And with FDIC insurance up to $500,000, you can save knowing your money is secure.

Good luck finding a bank that’ll pay you up to 4.30% APY like an Alliant Credit Union Jumbo 12-month certificate can.

It only takes a few minutes to apply to open an Alliant certificate completely online. Choose from a variety of terms from 3 to 60 months, deposit a minimum of $1,000, then sit back and watch your money compound monthly with an APY as high as 4.30% for a 12-month term.

Worried about needing access to your savings before your certificate matures? Alliant also offers a fee-free high-yield savings account that’ll earn you 3.10% APY — you can easily transfer your money at any time with no penalties. Open your account and deposit as little as $100 to start earning interest. Elect to receive eStatements, and you won’t pay any monthly fees, either.

Rest easy knowing that with Alliant, both our certificate and high-yield savings account are federally insured by NCUA up to $250,000. This means your money is not just safe, it’s super safe.

Ready to grow your savings faster than the average bank? Head over to Alliant’s website and choose either a certificate of deposit or a high-yield savings account to get started.

APY= Annual Percentage Yield. The APY is accurate as of the 3/25/2024 dividend declaration date. A $ 1,000 minimum deposit is required to open a Regular Alliant Certificate. For those with a larger deposit, a $75,000 minimum deposit is required to open an Alliant Jumbo Certificate. If your Jumbo Certificate balance falls below $75,000, it will convert to a Regular Alliant Certificate, which may pay a lower rate. You must be an Alliant member. Alliant Certificates are available as Regular Share Certificates and Jumbo Share Certificates. Both Regular and Jumbo Certificate types are also offered as Traditional IRA Certificates, Roth IRA Certificates,  and SEP IRA Certificates. Prior to opening an IRA Certificate, you must have or establish an IRA with Alliant. You may not add any additional money to your Certificate after opening. Dividends compound monthly and are paid on the last day of the month and at maturity. A penalty will be imposed for early withdrawal of any principal amount. There are no penalties for monthly dividend withdrawals. Early withdrawal penalties do apply if the Certificate is closed before the maturity date unless the Certificate funds are moved to Alliant Retirement and Investment Services. If you wish to move your Certificate funds to Alliant Retirement and Investment Services, you must wait until 7 days after your Certificate has been opened. Other exceptions to early withdrawal penalties may be allowed. Monthly dividend withdrawals are not eligible on IRA Certificates if owner is under age 59 1/2. Any monthly withdrawals or transfers reduce earnings. If you change the term of your renewed Certificate, the beneficiary(ies) need(s) to be reestablished by completing a Beneficiary Add/Delete Form. (Not applicable to IRA Certificates). The joint owner designated at the time of Certificate opening will remain as joint owner if you renew your Certificate with Alliant. Neither the primary account owner or joint owner may be a beneficiary on the Certificate account. You are not locked into a rate until you open or renew your Alliant Certificate. Alliant Certificate rates may change daily. Fees may reduce earnings on the account.

12-17 months
Regular Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 4.30% APY on balances between $1,000 and $74,999.99. Jumbo Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater. IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 4.30% APY on balances between $1,000 and $74,999.99. Jumbo IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater.

The savings dividend provides an Annual Percentage Yield (APY) of 3.10%. The APY is accurate as of the 3/25/2024 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividends may change after the account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts, and IRA. Fees may reduce earnings on the account.

New Chase customers enjoy a $300 welcome bonus when opening a Chase Total Checking account with direct deposit. And you get automatic transfers to a Chase savings account, along with access to 15,000 Chase ATMs* and more than 4,700 branches.

Another plus is this account offers Chase Overdraft Assist to protect you from overdrafts. if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day.

*$3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.

Huntington’s Perks Checking account pays out nominal interest (0.02%), but the easily waivable monthly maintenance fee makes it appealing for an easy checking account. Key features include mobile banking, five fee-free out-of-network ATM withdrawals, the No Overdraft Fee $50 Safety Zone and the 24-Hour Grace Overdraft and Return Fee Relief.

“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.

While the Huntington Platinum Perks account does have a monthly $25 fee, you can waive it by having $25,000 across accounts with Huntington. By upgrading to this account, you’ll get a higher bonus, get unlimited fee-free ATM withdrawals and earn 0.03% interest on your balance.

“New account” is defined as money not currently in another Huntington account; money transferred from one account to another does not qualify. The bonus offer cannot be combined with any other checking offer.

M&T Bank has more than 900 branches and 2,000 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.

M&T Bank has more than 900 branches and 2,000 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.

M&T Bank has more than 900 branches and 2,000 ATMs with operations in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, Vermont, Massachusetts and Washington, DC, but you can also do your banking entirely online.

Fifth Third’s checking account boasts immediate funds for all check deposits (fees apply), Extra Time for overdraft fee avoidance, early paycheck access, no minimum balance and no hidden fees. The account also offers basic fraud protection services and unlimited check writing.

In a world where consumers can get high-interest checking accounts with huge networks of ATMs and unique features, Wells Fargo is not very appealing. But if you like a traditional banking experience and an easy-to-navigate mobile app, Wells Fargo could be for you. Plus, the $300 bonus is nothing to sneeze at.

Bank of America’s Advantage account is broken into three tiers: SafeBalance Banking, Advantage Plus and Advantage Relationship. SafeBalance boasts no overdraft fees or non-sufficient funds fees but is not eligible for the bonus; Plus offers multiple ways to waive the monthly service fee and is eligible for the bonus; and Relationship earns interest (though the percentage is quite low) and is eligible for the bonus.

You can get started with a CIT Bank Platinum Savings account for as little as $100. To reach the full potential on earning interest, you’ll need to deposit at least $5,000 (0.25% APY on balances lower than that). Enjoy watching your money grow with no monthly service fees and manage it through a convenient mobile app.

All you have to do is fill out some information about yourself, put in the $100 minimum opening deposit and you’re on your way. The best part is, there’s no minimum balance to reach the 4.00% APY, so you’ll start earning interest without having to have a certain amount of money in your account.

The E*TRADE Max-Rate Checking interest rate is solid. You can earn 37x the national average on your balance, which means your money is growing while it sits there. Plus, there are no ATM fees, no foreign transaction fees, and you can waive the monthly fee if you keep a $5,000 average balance.
It’s also easy to use. You can handle everything online or in the app, which means no trips to the bank. And knowing your money is FDIC-insured gives you one less thing to stress about.

There’s no minimum balance, unlimited transactions, and you can withdraw up to $100,000 in a single day if you need quick cash. And for a little extra flexibility, you can put your cash into money market accounts for low-risk growth with investments like U.S. Treasurys.

Security-wise, you’re in good hands, too. Vanguard partners with FDIC-insured banks to give you up to $1.25 million in coverage on your deposits or up to $2.5 million for joint accounts. You also can skip the annual fee by signing up for e-statements.

With the Capital One 360 Performance Savings, there is no minimum deposit to open and maintain your account, and you’ll never pay monthly or maintenance fees.
You also don’t need to worry about accessing your savings—you can withdraw your money at any time with no penalties. Plus, all your money is FDIC-insured, which basically just means it’s super safe.
Signing up for your Capital One 360 Performance Savings Account only takes a few minutes. After that, you can sit back and watch your savings grow.