Best Bank Account Bonuses This Week: May 25, 2025
Image source: The Motley Fool/Unsplash
KEY POINTS
- Our highlighted pick this week: CIT Platinum Savings offer ends soon! Earn a bonus of at least $225 after a one-time deposit of $25,000+.
- Requirements to earn: Most bonuses involve direct deposit or a minimum savings balance.
- Updated weekly: We sift through banks each week to find the highest-value offers for you.
Fancy a pile of free money in exchange for switching banks?
We can help with that. Each week, we sort through dozens of banks to find the easiest (and best) new account bonuses. We feature solid deals with simple requirements like setting up a direct deposit or a savings transfer.
This week we highlight the CIT Platinum Savings bonus. While it's not the easiest bonus to earn, with a minimum deposit requirement of $25,000 and at least $50,000 required to earn the full amount, you can snag up to $300 if you qualify and use code PS2025 upon account opening. But if this bonus catches your eye, act quickly -- this promotion ends on May 27, 2025.
This list is updated weekly, because the best offers don't stick around forever. Always review the fine print -- and if something fits your goals, don't wait too long to grab it!
Top 6 bank bonuses this week
CIT Platinum Savings: Up to $300 bonus
On CIT's Secure Website.
Member FDIC.
CIT Platinum Savings
On CIT's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn CIT's Secure Website.
- Competitive APY
- No account opening or maintenance fees
- Unlimited number of external transfers (up to daily transaction limits)
- Interest compounds daily so your money can grow a bit faster
- FDIC insured
- Balance requirement for maximum APY
- No branch access; online only
CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits).
SoFi Checking and Savings (Member FDIC): Up to $300 bonus
On CIT's Secure Website.
Member FDIC.
SoFi Checking and Savings
On SoFi's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn SoFi's Secure Website.
- Competitive APY on both Savings and Checking
- No account fees
- Welcome bonus up to $300 (direct deposit required)
- Early access to direct deposits
- Tools to help you track savings goals
- Unlimited number of external transfers (up to daily transaction limits)
- ATM access
- FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)
- Combo account only; no stand-alone savings or checking
- Maximum Savings APY requires direct deposit
- Overdraft protection requires monthly direct deposit minimum
- No branch access; online only
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, there's the opportunity for a bonus of up to $300 and a long list of extra account features. 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 CIT's Secure Website.
Member FDIC.
Chase Total Checking®
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Chase's Secure Website.
- 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 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, 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® Cashback Debit: Up to $360 per year
On CIT's Secure Website.
Member FDIC.
Discover® Cashback Debit
On Discover Bank's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Discover Bank's Secure Website.
- 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.
Discover® Online Savings: $200 bonus
On CIT's Secure Website.
Member FDIC.
Discover® Online Savings
On Discover Bank's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Discover Bank's Secure Website.
- Competitive APY
- No account fees
- 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.
BMO Smart Advantage Checking: $400 bonus
On CIT'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
What to know about bank bonuses
Bank bonuses can be a quick and easy way to earn extra cash -- sometimes a few hundred dollars with minimal effort.
But to get the reward, you'll need to follow the rules closely. Most deals ask you to set up a direct deposit, often from your paycheck or government benefits, and complete a few simple tasks like funding the account or using your debit card. Miss a step, and you could lose the bonus.
Keep in mind that these offers are considered taxable income. If your bonus is over $10, expect a 1099-INT at tax time. Still, if you're already thinking of switching banks, a bonus can make the move more rewarding.
How to qualify for a bank bonus
Qualifying for a bank bonus usually isn't hard, but you'll need to follow the steps carefully. Most offers start with setting up a direct deposit -- typically from your job or government benefits -- within a specific time frame, often 30 to 90 days.
Some bonuses, especially for savings accounts, may require a larger deposit that stays in the account for a few months. Others might just ask you to use your debit card or pay a few bills online.
Every deal is a little different, so take time to read the fine print and make sure the requirements fit comfortably within your budget.
What to watch out for
Before signing up for a bank bonus, make sure you understand the fine print. Some banks charge monthly fees unless you meet certain conditions, like setting up direct deposit or keeping a minimum balance. Others may not pay out if you've had an account with them in the past year or two.
Even if you meet all the requirements, it can take up to 90 days to receive your bonus. So it's smart to know what you're getting into ahead of time. We've made things easier by focusing on straightforward offers from well-known banks -- no tricky hoops to jump through.
Offer ends soon! Don't miss out on this limited-time bonus
While it's not easy to earn, the CIT Platinum Savings bonus could prove quite lucrative for the right account holder.
If you've been looking for a new bank with a high APY, want to take advantage of a generous bonus, and have a large amount to transfer, this account just might be perfect for you. The CIT Platinum Savings pays 4.10% APY for balances of $5,000 or more, allowing your savings to grow over time. Get it before May 27 when the offer expires -- apply for a CIT Platinum Savings account now.
Our Picks for the Best High-Yield Savings Accounts of 2025
| Product | APY | Min. to Earn | |
SoFi Checking and Savings
Member FDIC.
APY
up to 3.80%
Rate info
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
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
|
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 May 25, 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 May 25, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
4.30%
Rate info
The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn
$500 to open, $0.01 for max APY
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
4.30%
Rate info
The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
|
$500 to open, $0.01 for max APY
|
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
-
Sources
- https://www.cit.com/cit-bank/platinum-savings/PS2025
- https://www.sofi.com/banking/checking-offer/
- https://account.chase.com/consumer/banking/PJ97924
- https://www.discover.com/online-banking/checking-lp-lng-01/
- https://www.discover.com/online-banking/savings-lng-04/
- https://www.bmo.com/en-us/main/personal/checking-accounts/digital-offer/
FAQs
-
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.
-
Most of the time, no. Opening a bank account may involve a soft pull or identity check, but it usually doesn't trigger a hard credit inquiry. That said, if the bank offers overdraft protection linked to a credit line, a hard pull might happen -- but that's rare.
-
Nope! Most bank bonuses only require you to open a new account. You usually don't need to close your existing one. Just be sure to check the fine print, because some banks may exclude you if you've had an account with them in the past six to 12 months.
Our Research Expert
Joel is a full-time 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.