Netbank's $25 CD Bonus for Current Customers
Oct 1, 2007 - 3:35 PM by Ken Tumin
Update 9/28/07: NetBank closed by the FDIC. See post for more details.
Netbank is offering current customers a $25 Visa Gift Card when you open and fund a 1-year (or longer) term CD with a minimum balance of $5K. This is not quite as good as what Netbank was offering last February in which the bonus was $50 and the minimum deposit was $2K. The current 1-year CD has a competitive APY of 5.25%. So for a $5K CD, this extra $25 raises the APY by 0.5% to 5.75%. The offer expires on 6/30/06.
For those not yet a NetBank customer, the $175 promotion seems to still be valid. The promotion includes $75 for a new checking account, $75 for a new money market account and a $25 Visa Gift card for a CD. After signing up with these promotions, you may then be able to add to it with this $25 promotion for current customers.
Unfortunately, Netbank's money market and checking accounts are not the best. The NetConnect Silver Money Market Account only pays 3.52% APY. Also, the money market account has a $500 minimum balance requirement to avoid a $5 monthly fee and the checking account has an inactivity fee after 3 months.
Credit for this find goes to Rammesh who left a comment in my new finding deals post. Thanks!
Netbank is offering current customers a $25 Visa Gift Card when you open and fund a 1-year (or longer) term CD with a minimum balance of $5K. This is not quite as good as what Netbank was offering last February in which the bonus was $50 and the minimum deposit was $2K. The current 1-year CD has a competitive APY of 5.25%. So for a $5K CD, this extra $25 raises the APY by 0.5% to 5.75%. The offer expires on 6/30/06.
For those not yet a NetBank customer, the $175 promotion seems to still be valid. The promotion includes $75 for a new checking account, $75 for a new money market account and a $25 Visa Gift card for a CD. After signing up with these promotions, you may then be able to add to it with this $25 promotion for current customers.
Unfortunately, Netbank's money market and checking accounts are not the best. The NetConnect Silver Money Market Account only pays 3.52% APY. Also, the money market account has a $500 minimum balance requirement to avoid a $5 monthly fee and the checking account has an inactivity fee after 3 months.
Credit for this find goes to Rammesh who left a comment in my new finding deals post. Thanks!
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Anonymous - #1, Tuesday, May 9, 2006 - 12:13 PM
Where do you see that the checking account has an inactivity fee after 3 months? Here it says a checking account becomes dormant after 12 months.
Banking Guy (anonymous) - #2, Tuesday, May 9, 2006 - 6:16 PM
I had trouble remembering this one, and I still can't find the post where I had previously mentioned it. But when I was looking over the fees I saw a mention of that fee related to Online Bill Payment Inactivity. And then I found this in the "Avoid fees at Netbank" page:
"This is our checking account that has no monthly fee. If you make at least one withdrawal from or deposit into the account each month, you will avoid a $3 inactivity fee that begins after 3 months of no such transactions. Or, maintain an average monthly balance of $3,000 or more and no inactivity fee is assessed."
Anonymous - #3, Wednesday, May 10, 2006 - 2:34 PM
I rememberred seeing that offer at netbank.com a few days ago, but when I went online today, I couldn't find it again, and netbank phonoe support seems never to have heard of it. Link?
Banking Guy (anonymous) - #4, Thursday, May 11, 2006 - 7:36 AM
I'll have to rely on Rammesh who posted the comment about this deal. I guess it was shown to members who had logged in to their accounts.
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