Here’s an interesting way to structure a bonus – you get more bonus money based on how much you “save” during the year. It is structured as an “interest bonus” and it’s based on your average daily balance increase in the account from the previous year. When it comes time to review your account, which is done annually, if your average daily balance has increased by $2500 then you are eligible for a $12.50 bonus. If it increases by over $25,000, then you qualify for the maximum $125 bonus.
You will also need to add one recurring monthly automatic transfer to this savings account from another account, which can be a checking account at the same bank or an external bank. Having an automatic transfer also avoids the monthly fee, which is $3.50. There is a $25 minimum opening balance.