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Get $50 For Opening an Amboy e-Savings Account
By JLP | July 26, 2006
While catching up on my reading, I came across a WSJ discussing online savings accounts. In the article, they mention Amboy Direct’s e-Savings Account. I went to their website and noticed that they have a special promotion going on right now that will give you an additional $50 if you open an account with $100 $3,000 or more. That’s a 50% return on your $100 deposit!
There is a Catch
Right now their account has a 4.28% APR for accounts with at least $3,000 and a 1% APR for accounts with $300 – $2,999 (accounts smaller than $300 earn NO INTEREST). Also, their 4.28% APR isn’t as good as the APRs that a lot of other online banks are offering. But, $50 is $50 and although a small account won’t earn interest, there are no fees to worry about.
In order to be eligible for the $50, you must click on the $50 bonus section located on this page. Then, you much give them your email address so that they can email you a five-digit reference code. UPDATE: It looks like this isn’t as good a deal as I originally thought. It seems you have to have an average balance of $3,000 for 90 days before you can get the $50. I think I would forget about this deal and go with ING, GMAC Bank, or even Emigrant before I would go with Amboy. They just aren’t competitive. Thanks to commenter HelpYourMoney for the heads up.
DISCLAIMER: I’m not affiliated with Amboy Bank.
Topics: Banking | 2 Comments »
July 26th, 2006 at 6:57 pm
I think you missed some of the terms.
I read also on that page that “To receive the $50 bonus, you must open a new Amboy eSavings account and keep a minimum monthly average balance of $3,000 or more for 90 days. The bonus will be credited within the following statement cycle after account meets 90 day balance requirements.”
So basically you need to keep a minimum balance of $3000 for 90 days.
July 27th, 2006 at 6:14 am
YA i think this offer is reaaly gud but beware of the Terms & conditions for it.