Best Bank Account Bonuses This Week: Oct. 5, 2025 -- Open an Account Today and Cash In on These Offers
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Think of bank bonuses like free samples at Costco… Only instead of a cookie bite or salsa dip, it's $200-$500 in cash.
You get to test-drive a new bank, check out its features, and still walk away with bonus money even if you decide not to stick around long term.
Each week, my team and I sort through dozens of offers to highlight the easiest wins and the ones with the most value. Here are the top bank bonuses available this week.
Top 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.
CIT Platinum Savings: Up to $300 bonus
On SoFi's Secure Website.
Member FDIC.
CIT Platinum Savings
On CIT's Secure Website.
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- Competitive APY
- No account opening or maintenance fees
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- Interest compounds daily so your money can grow a bit faster
- 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). And right now, you can also score a cash bonus of up to $300 when you open a new account with promo code PS2025 and fund it within 30 days. Terms apply.
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
For complete list of account details and fees, see our Personal Account disclosures.
Chase Total Checking®: $300 bonus
On SoFi's Secure Website.
Member FDIC.
Chase Total Checking®
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- 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.
Barclays Tiered Savings: $200 bonus
On SoFi's Secure Website.
Member FDIC.
Barclays Tiered Savings
On Barclays' Secure Website.
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- Competitive APY
- No monthly account fee
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- No minimum deposit to open an account
- Balance requirement for maximum APY
- No ATM access
- No wire transfers (inbound or outbound)
- No branch access; online only
Barclays Tiered Savings rewards savers with a tiered APY structure, offering higher rates as your balance grows. No monthly fees and no minimum balance to open mean it's accessible to everyone, while unlimited transfers and withdrawals let you manage your savings your way. And now, you can take advantage of a special offer $200 bonus on top of your savings growth when you open a new account and deposit $30,000 or more. Offer ends Dec. 31, 2025. Terms apply.
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 TMF925 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 03/12/2026, 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 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 are worth a look
Thinking about changing banks? Now's a smart time to do it. Lots of banks are offering cash bonuses -- sometimes a few hundred bucks -- just for opening a new account.
The steps are usually simple. You might need to set up a direct deposit, swipe your debit card a few times, or keep a certain balance in the account. But be careful -- skip a step and you might miss out.
Also, don't forget: these bonuses count as income. If you earn more than $10, you'll likely get a 1099-INT when tax time rolls around.
If you're planning to move your money anyway, picking up a bonus while you're at it is a nice little win.
How to get a bonus
Most offers are easy to qualify for -- just follow the instructions. Here's what they usually involve:
- A direct deposit within 30 to 90 days of opening your account
- For savings accounts, a bigger deposit you leave alone for a few months
- Some offers only need a few debit card purchases or bill payments
Always read the fine print before you sign up. Make sure the terms fit your habits so you don't miss out.
What to watch for
Some deals sound great but have extra rules. You might need to keep a certain balance or set up a regular deposit to skip monthly fees. And if you've had an account with the bank recently, you might not be eligible.
Even after you check every box, the bonus won't hit your account right away. It can take up to 90 days.
To help you skip the hassle, we've pulled together this week's best offers above -- simple, clear, and 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 4.50%
Rate info
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 4.50%
Rate info
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
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$0
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Discover® Online Savings
Member FDIC.
APY
3.40%
Min. to earn
$0
Open Account for Discover® Online Savings
On Discover Bank's Secure Website. |
3.40%
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$0
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Open Account for Discover® Online Savings
On Discover Bank's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
4.10%
Rate info
The annual percentage yield (APY) is accurate as of September 30, 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. |
4.10%
Rate info
The annual percentage yield (APY) is accurate as of September 30, 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.
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$500 to open, $0.01 for max APY
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Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
The annual percentage yield (APY) is accurate as of September 30, 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.
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF925 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 03/12/2026, 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.
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Sources
- https://www.cit.com/cit-bank/platinum-savings/ps2025
- https://www.sofi.com/banking/checking-offer/
- https://www.sofi.com/banking/savings-account/
- https://account.chase.com/consumer/banking/CP49234
- https://banking.us.barclays/tiered-savings.html
- https://www.discover.com/online-banking/savings-lng-04/?TPR=112&cmpgnid=affl-bk-offer&src=TMF925&van=Dbank&dclid=CNjO5ZOR5Y8DFZhWCQkdx3Qd1g&gad_source=7
- https://www.bmo.com/en-us/main/personal/checking-accounts/digital-offer/
FAQs
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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.
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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.
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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.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.