Oritani Bank is offering a checking account promotion with a new-account bonus and a money market promotion with a very competitive rate guaranteed until mid-year. Both of these promotions are listed on the bank's front page as of 1/19/2012.
The checking account promotion is the same as what the bank was offering last year. You can earn up to $125 if you meet the following requirements:
- Open a TGIF (Thank Goodness It's Free!) Checking Account
- $50 will be deposited into your TGIF account when you receive Direct Deposit within 100 days of account opening
- An additional $50 will be deposited into your TGIF account when you complete 3 Oritani Online Banking Payments within 100 days of account opening
- An additional $25 for signing up for eStatement banking
The TGIF Checking account has no monthly service charges and no minimum balance requirement. Minimum initial deposit is $100. The first 50 checks are free.
There's also a $125 bonus for the bank's free business checking account.
The money market promotion guarantees a 1.25% APY on balances up to $50K (0.70% over) until 7/2/2012. This requires that you also have a checking account with direct deposit. Without direct deposit, the guarantee yield is 1.00% APY for balances up to $50K. You can get an extra 10 basis points at the bank's Upper Montclair and Clifton branches. These rates are listed in the bank's rates page as of 1/19/2012.
The money market account has monthly fee when the average monthly balance falls below $1,000.
A branch visit is required to open an account. Oritani Savings branches are located in the New Jersey counties of Bergen, Passaic and Hudson.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 4.93% (excellent) based on September 2011 data. Please refer to our financial overview of Oritani Bank for more details. The bank has been a FDIC member since 1939 (FDIC Certificate # 28866).
Other Bank Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.