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$50 ETrade Account Opening Bonus

This promotion as ended, but you can still open a E*Trade savings account [3] with a great interest rate.

Be Unbeatable! That’s the slogan splashed across the page of this ETrade promotional offer of $50 free for opening a new ETrade Money Market Account (sent to me by loyal reader Charles, Thanks Charles!). As a side sweetener, you get a 5.15% interest rate on the account for the first three months. After that three month teaser rate, the rate falls to 1.51%.

If you have a balance under $1000 you’ll be dinged with a $10 monthly fee but otherwise I see nothing that should hold someone back from taking a free $50. Anyone else see something I missed?

Fine print:

$50 will be credited to your new E*TRADEĀ® Money Market account within 30 days of the account being funded with a minimum deposit of $100. Payments will be reported as interest income. Accounts must be opened by September 30, 2006 to qualify for the $50 offer. Must be a new account opened with new funds. Offer applies to one new account per customer. Not good with any other offer. This offer is not valid for E*TRADE FINANCIAL employees.

Relevant Fees:

A $100 minimum deposit is required to open a new EMM and account holders must maintain a minimum average monthly balance of $1,000, or $5,000 in total E*TRADE Bank deposits, by the end of their second statement cycle to avoid a $10 monthly fee.