Axos Bank $375 Business Savings Bonus

Offer at a glance

Maximum bonus amount: $375

Availability: Nationwide

Deposit required: $30,000

APY: 4% APY

Hard/soft pull: Soft pull

ChexSystems: Yes

Credit card funding: No

Monthly fees: None

Early account termination fee: $50, 180 days

Household limit: None listed

Expiration date:

The Offer

Direct link to offer

Axos Bank is offering a business savings bonus of up to $375.Earn a $75 monthly bonus when you have an average daily balance of $30,000+.Must use promo code BPS375

The Fine Print

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

Account must be kept open for 180 days otherwise a $50 fee will apply.

Our Verdict

If you have exactly $30,000 in the account this works out to be 7% APY with the 4% base rate and the $75 monthly bonus.Worth considering especially with rates falling if you have a large balance that you’d like to tie up for a few months.

Hat tip to Dane

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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.