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Chicago Bank Paying Up To $300 Bonus For New Savings And Checking Accounts

Open a new checking and savings account at Chicago’s Byline Bank by the end of June, and you can earn up to $300 in bonus cash.

Byline Bank? Byline Bank? Not ringing a bell?

That’s the new name for North Community Bank, which is locally owned and has more than 90 branches from the heart of the city to such far-flung suburbs as Oswego.

You can score the first $200 by creating a savings account with a minimum deposit of $5,000 and keeping the account open for 90 days. You’ll receive the $200 bonus 30 days after that.

The bank has four savings accounts to choose from, and none of the interest rates are impressive.

A regular Statement or Passbook Savings account pays just 0.05% APY, while a Golden Statement or Passbook Savings account pays only 0.10% APY.

If you keep the required $5,000 in any of the accounts for four months, you won’t have to worry about paying service fees or meeting minimum balance requirements to earn interest.

If you open a new checking account with direct deposit you can earn $100 more.

Your best choice is a Freedom Account. To earn the bonus, you’ll need to open the account with a deposit of at least $100. Then you’ll need to set up a recurring direct deposit of at least $100 by July 15.

If you do those things, you’ll get a $100 within 90 days of receiving your first direct deposit.

The Freedom Account has no minimum balance requirement and no monthly service fees.

You’ll need to stop by a Byline Bank branch to open your accounts.

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