Best Bank Account Bonus for June 2025

Akirastock/Getty Images:Islustration by Issiah Davis/Bankrate

For those considering opening a new check or an online savings account, we see that some banks are currently offering additional financial incentives to give your funds to your new home, as well as an additional $3,000 for your account bonus or savings account bonus.

Compare bonus offers on these bank accounts to find the best deals and best accounts for you. Also check out other incentives, such as bonuses offered to open a securities account.

Please check the bank’s website to see if you are eligible.

Best Checking Account Bonus

Best Savings Account/Money Market Account Bonus

Best Business Bank Account Bonus

Learn more about savings account/money market account bonuses

Learn more about top Business Bank Account Bonus

Why you have a sign-up bonus with your bank?

Banks use sign-up bonuses to distinguish them from others in the industry. Cash bonuses also help financial institutions bring new customers and new deposits.

Some banks allow you to pay a high yield to your account holder, but it is desirable to offer a bonus.

Bankrate Chief Financial Analyst Greg McBride said:

Some banks offer multiple sign-up bonuses. However, it is usually impossible to qualify for multiple bonuses at the same bank at the same time. Bank account bonuses are usually only available to newer or savings account holders.

What do you pay attention to?

All new bank account bonus offers are not a fair deal. Before signing up, read the fine print and be realistic about your ability to meet your requirements. Be aware of the high minimum balance requirements and monthly fees that can potentially be digging into your revenue.

If you are applying for a checking account, make sure it’s a good match to meet your needs. For example, if you need to use a branch or an ATM, double-check that there are many branches in your area. That way you won’t drive miles to meet your bankers or waste money on out-of-network ATM fees. Also, online banking is becoming more popular and convenient, so look for a bank or credit union that offers a solid set of digital tools.

If you are looking for a new savings account, consider whether it’s better to find another bank that pays more interest.

For example, you will typically receive a one-time bonus on accounts that pay minimal interest. So, the bonuses are great at first, but they could be at the expense of long-term returns.

Time is money, so ask yourself these questions. Have you been thinking about switching banks anyway? Does the bank offer an account you will stick to even after the bonus requirements are met? If not, are you ready to do legwork at that point when you move your account again?

– Greg McBride
CFA, Bankrate Chief Financial Analyst

How are bank account bonuses taxed?

The Internal Revenue Service (IRS) will tax bonuses on bank accounts earned in 2024 at the same tax rate as income of 10-37%. Upper tax season, banks may submit a 1099-inch form if they win a bonus of $10 or more. Alternatively, the bonus may appear on the 1099-MISC form. These forms can also be made available electronically by banks.

Banks may also choose not to submit tax forms for bonuses they earn. If this happens, you are still responsible for paying your taxes with bonuses. You can list income from bank account bonuses on the 1040 form. This allows you to report additional income from sources such as unemployment compensation and money related to prizes and awards.

We recommend that you secure a tax percentage (based on the tax band) as soon as you receive your bank bonus. This will have the money to cover the associated tax liability.

There are additional requirements for the promotions in this article that are not listed here. The Terms of Use may apply to these offers.