Ally Bank, Up to $500 Bonus for New and Existing Customers
Ally Bank has a new offer that can earn you up to $500 when you transfer new money in. This offer is for new and existing customers. You will earn 1% of the amount you transfer to your Ally Bank account, up to a maximum of $500. Check out the details below.
Update: Interest rate on the account is now 2.35%, up from 2.25% APY. Bonus has been extended for a few more days.
Offer
Make your money go further. Get a 1% cash bonus — and a rate that’s 10x the national average — when you move your money to an Ally Bank Online Savings Account. Plus earn an Annual Percentage Yield (APY) of 2.25% 2.35%
Here’s how it works:
- Enroll by 10/26/2022 – Get things started by enrolling. Be sure to use the email address associated with the Ally Bank account you plan on transferring new money to.
- Put money in your account by 11/4/2022 – Move at least $1,000 from another financial institution to a new or existing eligible Ally Bank account (Online Savings Account, Money Market Account or a CD). Remember, transfers can take up to three business days.
- Keep the new money in your account through 1/15/2023 – Your new money must remain in your eligible Ally Bank account through 1/15/2023. Keep in mind, any withdrawals made during this time may reduce your bonus.
- Get your cash bonus on or by 2/15/2023 – Get a 1% bonus on the net new funds, up to $500.
Offer Terms
- Cash bonus applies to new money added to an eligible Ally Bank account, not your total balance
- Your new money must remain in an eligible Ally Bank account: Online Savings, Money Market or a CD.
- Minimum cash bonus is $10 ($1,000 deposit), maximum is $500 ($50,000 deposit)
- Ally Bank’s Online Savings Account and Money Market Account have an Annual Percentage Yield (APY) of 2.35% on all balance tiers. No minimum balance is required to open. APYs are variable, subject to change, and accurate as of 10/24/2022. Fees may reduce earnings. View Ally Bank’s CD rates
- Full terms
Guru’s Wrap-up
This is a good opportunity to earn a great rate on up to $50,000 for Two and a half months. That’s the minimum time you need to keep the cash in there. During that period, you will earn 1% back, plus a 2.25% APY.
With a $50K deposit on or just before 11/4, and keeping that balance through 1/15, you would earn a total of about $734 including the interest and the bonus.
If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
HT: Farooq
