- Open a new High Yield Savings account, using promo code S106MB250*.
- Minimum $15k funded within ten days of account opening.
- Maintain a $15k minimum daily balance for 90 days.
*While this promotion was targeted via email, CSR stated that if I had the promo code and did not have a TIAA Direct High Yield Savings account, I would qualify for the $250 savings bonus.
- Only available for new TIAA Direct High Yield Savings accounts.
- One offer per customer.
- Funds transferred from an existing TIAA Direct account do not count toward the qualifying minimum balance.
- $250 bonus will be credited to the account within 91 to 104 days of account opening, provided that the account remains open and in good standing.
While the High Yield Savings account has no monthly maintenance fee,
an Excessive Transaction Fee of $5 will be charged for each covered transfer
or withdrawal that exceeds the monthly statement cycle six transaction limit.
Note: When I spoke with a very thorough and helpful CSR, he stated that “if you have lived at your current address for less than 5 years, you must have proof of previous address.”
Thanks to DA reader, stevel, for his Forum post about this TIAA Direct savings bonus.
Headquartered in St. Louis, Missouri, TIAA Direct is the banking component and a brand of TIAA-CREF Trust Company, a Fortune 100 financial services company.
Joining an account with TIAA Direct and applying for the $250 savings bonus can be done online, by phone (844.567.8939) using the promotion code S106MB 250.
Note: While this promotion was sent via email to a targeted audience, I was told by CSR last evening that as long as I 1) had the promo code, and 2) did not have a TIAA Direct High Yield Savings account, I would qualify for the $250 savings bonus. If you did not receive an email, it would be a good idea to call and confirm with a CSR that you will be eligible for the bonus. Make sure to note the name of the CSR and the time of the call.
TIAA Direct (FDIC Certificate # 234723) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 0.34% (excellent) based on June 30, 2016 data. In the past year, TIAA Direct has increased its total deposits by $696.92 million, an excellent annual growth rate of 33.05%. Please refer to our financial overview of TIAA Direct for more details.
In 1918 the Carnegie Foundation established Teachers Insurance and Annuity Association
(TIAA), a fully-funded system of pensions for professors. Funding was provided by a combination of grants from the foundation and Carnegie Corporation of New York — including an initial gift of $1 million — and ongoing contributions from participating institutions and individuals.
How the $250 Savings Bonus Compares
The above rates are accurate as of 11/17/2016.
Other Bank Promotions and Bonuses
Not eligible for TIAA Direct’s $250 checking bonus? 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 Promotions Forum.