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New York City Checking Bonus Pays $250

Here’s a checking account that works almost like a short-term CD. A very, very good short-term CD.

Just invest $2,500 for a few months, jump through a few hoops and earn a $250 bonus – or 10% return.

That’s what Astoria Bank, based in Lake Success, New York, is offering savers who open a new checking account by June 30.

Two checking accounts offer the $250 bonus, but your best choice by far is the Simple+ account.

While it only takes a $100 minimum deposit to open the account, that won’t do you much good if you want to get the bonus.

You need to have an average daily checking balance of $2,500, or a combined daily balance of $10,000 across your deposit accounts, to earn the bonus.

In the first four months after you’ve opened the account, you have to maintain those account balances for three consecutive months to be eligible for the bonus.

During that time, you’ll also need to receive at least $250 in direct deposits for three consecutive months or make three online bill payments of at least $25 for each of those months.

If you do those things, you’ll get a $250 bonus credited to your Simple+ checking account within 30 days.

That will also get the $10 monthly service fee waived, and you’ll have up to $15 in ATM fees refunded.

It’s not much, but the Simple+ checking account earns 0.05% APT.

Savers who live in the New York City area can open an account online or at one of Astoria Bank’s nearly 90 branches.

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