E-Loan Savings Plus Account $25 Bonus Offer

Banks want your money and in order to get your money, they will pay you!

E-Loan just launched its own version of high-yield online savings account call E-Loan Savings Plus . To promote the new product, E-Loan is offering a $25 bonus for a new account from now till December 18th. The Savings Plus has tiered rates depending on the amount of deposit. The highest yield is 3.85% APY, but to get that kind of return, you will need $100,000 or more in your account:

  • $5,000 to $9,999.99: 2.76%
  • $10,000 to $24,999.99: 3.35%
  • $25,000 to $49,999.99: 3.51%
  • $50,000 to $99,999.99: 3.75%
  • $100,000 or Greater: 3.85%

Details of this bonus offer are:

Promotion valid for one new Savings Plus account for each new customer. To qualify for the $25 bonus the promotion code “plus25” must be entered on the application and submitted prior to December 18th, 2008. The account must maintain at least the original balance for sixty (60) days to qualify for the promotion. The $25 bonus will be posted as an interest credit to the account within 90 days of account opening.

To qualify for a Savings Plus account, customers must make regular monthly deposits into their savings account of at least $100. Any Savings Plus account that does not have a minimum of $100 per month deposit for over 60 days will be converted back to a standard savings account and the rates in effect for a standard savings account will apply. Savings Plus is a Money Market Deposit Account that allows up to six withdrawals per month.

The Savings Plus Account, which is offered by E-Loan, will be opened through Banco Popular North America (BPNA), a member of FDIC (FDIC Cert: 34967). Now this is important.

A good deal?

Not really. I’d rather have a bank account that pays me 4.0% yield with much lower minimum requirement. BTW, here are some other bonus offers for up to $100 that are currently available.

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This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

5 Responses to “E-Loan Savings Plus Account $25 Bonus Offer”

  1. Toomuch Ads |  Oct 31, 2008 at 4:36 pm

    Sun, although your post are good, almost every other post is trying to get your readers to sign up for things. I know blogging can generate a nice side income, but if I wanted to see ads I can just buy a magazine.

  2. Sun |  Oct 31, 2008 at 11:57 pm

    What I am doing is providing information and sharing my experience if I have used a certain product. I believe people can make their judgement on what to use and what not to.

  3. PennyS┬óraper |  Nov 01, 2008 at 3:16 pm

    Hey nice post,Sun! I was about to sign up for it, but then I noticed the minimum to open the account is $5K. Not worth it for the low interest and only $25 bonus.But thanks for the post man.Keep it up.

  4. Sun |  Nov 01, 2008 at 3:36 pm

    PennyScraper: I am glad you can use the information.