Oritani Bank has new checking account promotions that are similar to last year's offers. One is a bonus for a free checking account in which you can earn $125. The second is a guaranteed rate on the bank's interest checking account. Both of these promotions are listed on the bank's front page as of 1/14/2013.
$125 Checking Account Bonus
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.
1.02% APY Guaranteed to 7/1/2013
The other checking account promotion guarantees a 1.02% APY until 7/1/2013. This requires that you open the bank's Optimum Gold E-Checking account. The minimum balance to qualify for the 1.02% APY is $25,000, and balances below $10,000 incur a $20 monthly fee. It also requires the following:
- Receive the monthly statement electronically (eStatement) AND
- Receive a recurring direct deposit to the account OR make 3 online Bill Payments monthly from the account within 60 days of account opening
After the promotional period, the rate will fall to the standard Optimum Gold E-Checking rates. The standard top rate is currently only 0.45% APY for balances of at least $25,000.
Hat tip to DA reader stormdog123 who posted on this promo in the forum.
There's also a money market promotion, but this only guarantees 0.70% APY until 3/4/2103 for balances over $25,000. Its standard top rate is 0.55%.
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 6.68% (excellent) based on September 2012 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 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.