UPDATE 7/22/2016: $250 bonus is available through September 30, 2016.
General Requirements for the $250 Bonus
- Required balance must be maintained for three consecutive months within the first four months of account opening.
- Receive direct deposits of $250 or more during three consecutive months, OR
- Make three monthly online bill payments of at least $25, during three consecutive months.
Specific Balance Requirements
- Simple+ Checking Account - Average monthly balance of $2.5K or more in the account, or a $10K minimum balance in any combination of related Astoria Bank deposit accounts is required.
- Select Checking Account - Minimum balance of $25K in any combination of related Astoria Bank deposit accounts is required.
- $250 cash bonus will be credited to the account within 30 business days following receipt of the third month's required direct deposits, or within 30 business days of the third month's required bill payments.
- Account must be open when bonus is credited.
- The bonus is limited to $250 per account, regardless of number of these services acquired for account.
- Limit of one offer per customer
Astoria Bank’s market area covers the New York Boroughs of Manhattan, Brooklyn, and Queens, and the New York Counties of Nassau, Suffolk, and Westchester. The combined population of Astoria Bank's market area exceeds that of 38 individual U.S. states.
Opening a Simple+ or Select Checking Account can be done online, or in-person at any of 88 branch locations. If opened online, it is possible you will be required to visit a branch to verify your address (i.e., New York City resident).
Astoria Bank, (FDIC Charter # 29805) has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.48% (excellent) based on March 31, 2016 data. Astoria Bank has an excellent capitalization level of 12.85%, the result of holding $14.91 billion in assets, with $1.92 billion in equity. Please refer to our financial overview of Astoria Bank for more details.
Established in 1888 as the Astoria Federal Savings and Loan Association, today’s Astoria Bank has provided over 125 years of continuous service to residents of the New York City metropolitan area. The last 35 years have seen the acquisition of five savings and loan associations and three banks, resulting in the 9th largest bank in New York State.
How Astoria Bank's Simple+ and Select Checking Account Bonus Compares
What makes this $250 bonus unique is that it can be earned by making online bill payments, without having to fulfill a direct deposit requirement, but the balance requirements do offset the value of the bonus.
The balance requirement ($2.5K for the minimum required four months) would yield approximately $8.33 in four months in a savings account earning 1.00% APY. Should the balance fall below $2.5K, a $10 monthly service fee would apply and the bonus offer becomes void.
The balance requirement ($25K for the minimum required four months) would yield approximately $83.06 in four months in a savings account earning 1.00% APY. Should the balance fall below $5K, a $15 monthly service fee would apply and the bonus offer becomes void.
Other Bank Promotions and Bonuses
Not eligible for the Astoria Bank bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Deals Forum.