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$150 Checking and Savings Account Bonus at Independence Bank in California - Local Only

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Independence Bank is offering a $150 checking account promotion. Details from the bank's promo page include:
  • $50 for opening any checking with a minimum initial deposit of $100 and making 5 transactions per month for 3 months including 1 ACH deposit or payment
  • $50 for either: 1) getting a debit card and making 3 card transactions per month for 3 consecutive months, or 2) setting up Bill Pay and paying 3 bills per month for 3 consecutive months
  • $50 for opening a savings account or money market account with a $1,000 minimum deposit and maintaing a $1,000 average balance for 3 consecutive months
Offer expires 8/31/09. On the promo page there's an "Apply Now" button. This takes you to a page with an PDF application form. You're instructed to mail the completed form along with a check. Accounts are only available to California residents.

Update: Reader noted the following important detail in the small print: "Participating customers must visit an Independence Bank branch after completing minimum requirements to receive the offer." Update #2: Another reader mentioned being told by a rep at the San Juan Capistrano branch that "they do not accept mail-in applications. A branch visit is required." I tried calling their toll-free number (888 414-0500) for more information, but the line was always busy. If you're considering mailing the PDF application, I recommend contacting the bank first for the latest instructions about qualifying for this promo.

Independence Bank has branches at Newport Beach, Fountain Valley and San Juan Capistrano, California.

The bank used to offer very competitive rates on its Independence Savings Account, but the rate is now only 1% APY.

The bank's ratings are a little weak: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 3/31/09 financial data. As we learned when NetBank failed in 2007, bonuses may not be honored after a bank failure. The bank has been a FDIC member since 2004 (FDIC Certificate # 57688).

Thanks to the reader who mentioned this promo in the comments.

Other Bank Bonuses

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
Related Pages: Independence Bank, Minot, Great Falls, CD rates

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Anonymous
  |     |   Comment #1
one important detail:

"Participating customers must visit an Independence Bank branch after completing minimum requirements to receive the offer."
Reply
1
Anonymous
  |     |   Comment #2
I called San Juan Capistrano Branch, and was told they do not accept mail-in applications. A branch visit is required.
Reply
1
Anonymous
  |     |   Comment #3
It's a little sad that their website doesn't appear to support Firefox, only one of the most popular browsers out there..(when I go to their page, all I see is a blank page with the text <--!IE7-->
Reply
1
3.00% 15-Month CD & Other Competitive Rates at Independence Bank in Rhode Island
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POSTED ON MONDAY, APRIL 27, 2009 BY KEN TUMIN
Update 4/18/09: The CD rates have fallen. Please check the bank's website for the latest rates.

Independence Bank is offering several competitive CD rates. These include 2.50% APY for 5 months, 2.75% APY for 11 months, 3.00% APY for 15 months, 3.25% APY for 24 months and 4.00% APY for 60 months. Minimum deposit is $1,000. These rates are listed at the bank's rate table as of 4/03/09. Under the rate table there's an effective date of 3/4/09, so it's likely that these rates won't last much longer.

A branch visit appears...



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2.60% 12-Month Liquid CD at Independence Bank - California Only
Comments (2)
POSTED ON THURSDAY, MARCH 19, 2009 BY KEN TUMIN
Update: The 2.60% APY now only applies to the regular 12-month CD.

Independence Bank is offering a 2.60% APY on its 12-month liquid CD. Minimum deposit is $1,000. The rate is listed at the bank's rate table as of 3/19/09.

The 2.60% APY isn't the best rate, but the liquid features make this a much better deal. According to the bank's Liquid CD Page, the liquid features include up to 1 withdrawal per month and unlimited deposits. According to the small print, the minimum withdrawal amount is $1,000, and a minimum balance...



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4.05% 7-Month CD at Independence Bank in CA
Comments
POSTED ON SUNDAY, NOVEMBER 16, 2008 BY KEN TUMIN
Independence Bank is offering a special 7-month CD with a yield of 4.05% APY. The minimum deposit is $1,000. This special is listed in the bank's rate sheet as of 11/16/08.

The bank also offers savings accounts and money market accounts with some decent rates. I first posted on this bank's savings account in 2006.

California residents can apply for accounts by mailing in the application or by visiting one of their branches in Newport Beach, San Juan Capistrano and Fountain Valley.

Independence Bank's financial ratings for soundness are a little weak: 3...





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5.25% Savings Account at a California Bank (Independence)
Comments (2)
POSTED ON SATURDAY, JUNE 14, 2008 BY KEN TUMIN
Update 6/14/08: Savings account yield has fallen to 2.75% APY.. See bottom of post for rate history.

Independence Bank is offering a 5.25% APY savings account. The minimum to open is $100. All balances are eligible for the full interest rate. The 5.25% APY requires that a checking account with a VISA check card be opened. It wasn't clear from the webpage which checking account was required. Based on an email reply from the bank, either the Totally Free Checking or the Higher Yield Checking are eligible.

You can apply for...



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4.00% 48-Month CD at a California Bank - and 4.00 MMA (Independence).
Comments (2)
POSTED ON SATURDAY, MARCH 15, 2008 BY KEN TUMIN
Update 3/15/08: The rates have fallen. Please check the bank's website for the latest rates.
Update 3/8/08: The rates have fallen. The 48 and 60 month CD rates have fallen from 4.25% to 4.00% APY, the 6-month liquid CD rate has fallen from 3.90% APY to 3.60% APY, the savings account rate has fallen from 4.05% to 3.95% APY, and the money market rate has fallen from 4.00% to 3.90% APY. The title has been modified to reflect this change.

Independence Bank is listing some competitive certificate of deposit rates. The highest...


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