4 banks that will pay you up to $300 when you open an account by the end of the year
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- Barclays offers interest-earning accounts with promotions.
- All of these bonuses stop being available at or shortly after the start of 2025.
- It's better to act sooner rather than later, since banks can end promotions early.
Bank account bonuses can be a nice incentive to open a new bank account. If you're struggling to choose between bank account options, a checking account bonus or savings account bonus can help you decide.
Savings account bonuses can be harder to find than non-interest-bearing checking account bonuses. We've provided a list of some high-yield account bonuses from Barclays and Live Oak Bank.
How to earn an interest-earning account bonus
Barclays and Live Oak Bank all offer bonuses for their high-yield savings accounts. They offer $200 and $300 bonuses, respectively, if you open an account and meet some additional requirements.
We've broken down how to earn the bonuses and how long you have to earn each bonus in the chart below. All of these accounts are from online banks and credit unions.
| Account | APY | Bonus Amount | Available Until | How to Earn |
| Barclays Tiered Savings | 4.25% to 4.50% | $200 | March 8 | New Barclays savings account or CD customers must open a new Barclays Tiered Savings account before March 8, put at least $25,000 in the account within 30 days of opening it, and maintain that balance for 120 consecutive days |
| Live Oak Bank Personal Savings Account | 4.20% | January 13 | Open a new personal savings account by January 13, put at least $20,000 of new money in the account by January 13, and keep at least $20,000 in the account for 60 days. Existing customers also have to maintain existing account balances across their existing personal savings accounts according to the account's November 11 end-of-day balance |
When to take advantage of an opening bonus
Opening a savings account with a bonus can help you earn a little extra on your savings, allowing you to move faster toward your savings goals. However, for it to be worthwhile, you need to know you can meet the bonus requirements. You should also plan on using the account beyond the bonus period.
You shouldn't open an account just for the bonus — especially if the savings account comes with monthly bank maintenance fees or other costs that will eat into your balance.
Alternatives to savings account bonuses
Choosing the right savings account often boils down to the account's interest rate and its requirements. You might earn more by putting your money into a certificate of deposit with one of the best CD rates than you would by trying to earn a bonus.
You won't have easy access to your money in a CD — you have to pay CD early withdrawal penalties if you withdraw money before the end of the term account — but you'll still earn some interest if you do have to withdraw some funds in an emergency. If you don't meet your savings account bonus requirements, you won't earn any of that bonus.
A high-yield savings account from an online bank or credit union can earn you hundreds or thousands of dollars in interest each year, even without a bonus, and you might find that account easier to maintain.
For example, if you open a 5% interest savings account with an opening deposit of $25,000 and make no other contributions, you'll earn over $400 in interest over four months and over $1,000 in interest over one year. Many high-yield savings accounts don't make you meet balance requirements to earn a high interest rate, meaning you'd have more flexibility to withdraw from your account than you would if you were trying to earn a bonus.