Best Bank Account Bonuses This Week: July 20, 2025
If you've got a paycheck and a few minutes, you might already qualify for a few hundred bucks.
Seriously, it doesn't take much to earn most bank bonuses. Set up direct deposit, move some savings, maybe click a couple buttons. That's it. You could walk away with $150, $200, even $300 in easy money just for switching where your cash sits.
Every week, we comb through the latest offers and highlight the ones that are actually worth your time. No messy fine print or "gotcha" fees. If you're ready to make your money work a little harder, here are the best bank bonuses available right now.
Top 5 bank bonuses this week
SoFi Checking and Savings (Member FDIC): Up to $300 bonus
On SoFi's Secure Website.
Member FDIC.
SoFi Checking and Savings
On SoFi's Secure Website.
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- Competitive APY on both Savings and Checking
- No monthly account fee
- Welcome bonus up to $300 (direct deposit required)
- ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)
- Early access to direct deposits
- Tools to help you track savings goals
- Combo account only; no stand-alone savings or checking
- Maximum Savings APY requires direct deposit
- No branch access; online only
- Overdraft protection requires monthly direct deposit minimum
For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, new customers earn a bonus of up to $300 with eligible direct deposit. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.
You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.
Chase Total Checking®: $300 bonus
On SoFi's Secure Website.
Member FDIC.
Chase Total Checking®
On Chase's Secure Website.
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- Largest bank in the U.S. in terms of assets
- More than 15,000 ATMs and 4,700 physical locations
- Wide range of financial products
- User-friendly online and mobile banking tools
- No minimum deposit to open
- Chase Overdraft Assist
- Low APYs on savings accounts and CDs
- $12 ($15, effective August 24, 2025) monthly maintenance fee waived only with qualifying activity
Chase Total Checking® combines tons of features with superior customer service. It's a safe place to put your money. You can walk into any of thousands of branches and withdraw cash from more than 15,000 ATMs in Chase's network. You can access everything online, too. It's one of the best checking accounts for in-person and over-the-phone customer service.
- Enjoy $300 as a new Chase checking customer, when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.
- Access to more than 15,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ – no overdraft fees 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*
*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
**Monthly service fee is $12 ($15, effective August 24, 2025), or $0 with one of the following, each monthly statement period:
Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network, OR a balance at the beginning of each day of $1,500 or more in this account, OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
Discover® Online Savings: Up to $200 bonus
On SoFi's Secure Website.
Member FDIC.
Discover® Online Savings
On Discover Bank's Secure Website.
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- Competitive APY
- No monthly account fee
- Comfort of a well-known brand and reputation
- 24/7 customer support
- FDIC insured
- Online only; single branch location in the U.S.
The Discover® Online Savings account promises customers an above-average interest rate and few limitations. Most people won't ever encounter fees with this account, and you won't have to worry about keeping track of your monthly withdrawals either.
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.
Discover® Cashback Debit: Up to $360 per year
On SoFi's Secure Website.
Member FDIC.
Discover® Cashback Debit
On Discover Bank's Secure Website.
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- Cash back rewards on debit cards
- Early direct deposit
- No monthly maintenance, NSF, or overdraft fees
- Great customer service
- Cash back rewards capped
- No interest-bearing checking account
- No physical branches
- No reimbursement for out-of-network ATMs
The Discover Cashback Debit account could be a lucrative option for those who frequently use their debit card. With cash back on eligible purchases, it's possible to earn even more than you could with a typical checking account APY without changing your habits at all. The fact that Discover has done away with many common checking account fees only adds to its appeal.
BMO Smart Advantage Checking: $400 bonus
On SoFi's Secure Website.
Member FDIC.
BMO Smart Advantage Checking
- Generous relationship benefits
- Strong suite of other banking products
- Member FDIC
- Negative customer service reviews
Accounts are subject to approval. BMO Bank N.A. Available in the U.S. Member FDIC
Why bank bonuses deserve your attention
If you're planning to move your money to a new bank, a bonus offer could be a nice extra perk. Many banks are handing out cash to new customers who meet a few basic requirements.
In most cases, the steps are simple: set up a direct deposit, make a few debit card purchases, or keep a certain amount of money in the account for a while. But read the details carefully -- missing even one part of the deal could cost you the bonus.
These rewards also count as taxable income. So if you earn more than $10, you'll probably get a 1099-INT at tax time.
If you're already thinking about switching banks, taking advantage of a sign-up bonus could make the move even more rewarding.
Earning a bonus is easier than you might think
Most bank promotions are pretty easy to qualify for -- just stick to the rules. Here's what you'll usually need to do:
- Set up a qualifying direct deposit within the first 30 to 90 days after opening your account.
- Some savings offers require you to deposit a large sum and leave it untouched for a few months.
- Others are super simple -- just a handful of debit card transactions or bill payments might be enough.
Before jumping in, take a few minutes to review the terms. That way, you can make sure the offer lines up with your spending habits and won't catch you off guard.
A few things to watch for
Not every bank bonus is as straightforward as it sounds. Some accounts come with monthly fees unless you meet certain conditions, like maintaining a minimum balance or scheduling direct deposits. And if you've recently had an account at the same bank, you might not be eligible at all.
Even once you've completed all the steps, don't expect the bonus to show up right away -- it can take up to 90 days.
To help you skip the hassle, we've narrowed down this week's best offers from banks that keep things simple, transparent, and actually worth your time.
Our Picks for the Best High-Yield Savings Accounts of 2025
| Product | APY | Min. to Earn | |
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SoFi Checking and Savings
Member FDIC.
APY
up to 3.80%
Rate info
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 7/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by
8/12/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation
Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated
interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates
are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see
3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi
Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 3.80%
Rate info
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 7/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by
8/12/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation
Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated
interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates
are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see
3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi
Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
|
$0
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
American Express® High Yield Savings Account
Member FDIC.
APY
3.60%
Rate info
3.60% annual percentage yield as of July 20, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.60%
Rate info
3.60% annual percentage yield as of July 20, 2025. Terms apply.
|
$0
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Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
CIT Platinum Savings
Member FDIC.
APY
4.00% APY for balances of $5,000 or more
Rate info
4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn
$100 to open account, $5,000+ for max APY
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
4.00% APY for balances of $5,000 or more
Rate info
4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
|
$100 to open account, $5,000+ for max APY
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Open Account for CIT Platinum Savings
On CIT's Secure Website. |
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Sources
- https://www.sofi.com/banking/checking-offer/
- https://www.sofi.com/banking/savings-account/
- https://www.discover.com/online-banking/savings-lng-04/
- https://account.chase.com/consumer/banking/PJ97924
- https://www.discover.com/online-banking/checking-lp-lng-01/
- https://www.bmo.com/en-us/main/personal/checking-accounts/digital-offer/
FAQs
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Typically, it's a paycheck, government benefit (like Social Security), or other ACH transfer from an employer. Some banks are strict, while others are more lenient and accept transfers from other financial institutions. It's always smart to check the exact terms in the bonus offer.
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Sometimes! It depends on the bank's rules. Some banks let you earn a bonus again after a certain amount of time (like 12 or 24 months), while others limit you to one bonus per customer for life.
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If you can qualify without overcomplicating your finances, yes! A few hundred dollars for moving your money is a great deal, especially if there are no strings attached.
Our Research Expert
Joel is a full-time Personal Finance Writer at Motley Fool Money, known for his clear, approachable voice on topics like credit cards, savings hacks, and side hustles. He’s been writing about money since 2018 and previously managed editorial content for the How To Money podcast.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.