Suggest a Savings Account

MrPepperoni · ‎03-27-2022

Hi Community,

What savings account would you recommend considering that I am looking for a sign-up bonus?

I have 20k sitting in cash - I need to keep it somewhere for probably 2-4 months...and thinking about opening a savings account with a high sign-up bonus. What are the current great deals on the market of savings accounts? I tried researching, the best I found is HSBC with $450 sign-up bonus when depositing a minimum of 15k.

Thank you in advance!

Moved to the US in August 2018.
Applied for Citi Costco in November 2018 - Denied due to lack of history (no history).
Started building credit in January 2019. Please hover over each card:

Discover IT Cash Back | SL $300 as IT Secured | CL $2,600 | Jan 2019

Chase Freedom Unlimited | CL $2,500 | Sep 2019

AMEX BCE| SL $5,400 | CL $23,000 | May 2020

Chase Sapphire Preferred | SL $5,000 | Nov 2020

BofA Cash Rewards | SL $6,000 | April 2021

Chase United Quest | CL $5,000 | April 2021

American Honda Finance| Honda Accord EX-L 2023 Auto Loan @ 3.99% for 36 months | May 2023 | $13,803 (82%) remaining out of $16,932

Also have Chase Marriott Bonvoy Bold (6 months old, $11k limit)
Bilt Credit Card (6 months old, $2k limit)
Amex Hilton Honors Surpass (1 month old, $16k limit)
Two paid off auto loans ($20.5K and $15.7K)

coldfusion · ‎03-27-2022

Have you checked out the latest information on doctorofcredit? This is something that they track on a regular basis.

Since you say that you're looking to park the money for 2-4 months you need to very carefully confirm terms and conditions tied to mininum account balances and time the account must be kept open to earn the SUB and/or incur account early-closure fees.

(2/2025)
FICO 8 (EX) 850 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

keekers · ‎03-29-2022

I don't have any personal experience with HSBC but I haven't heard good things; take that for whatever it's worth. If you're chasing SUBs...with 20K you can probably open more than one account to maximize them. The one caveat I'd mention is that often times there is a minimum timeframe you will have to keep the deposit in your account so read the fine print. This link might help:

March Banking Promotions