How to Earn Up to 12% on Bank Bonuses
00:00:00.000 | I looked at seven different offers from banks like Capital One City,
00:00:03.040 | Wells Fargo, discover citizens, and the bonuses ranged from $150 to $750 for
00:00:09.680 | depositing somewhere between 10 and $50,000.
00:00:12.600 | Now, if you want to look at the annualized benefit, the deposit
00:00:17.680 | requirements were anywhere from about a month and a half to five months.
00:00:21.480 | And so the annualized yield was about six to 12% on these bonuses.
00:00:26.340 | So what you'll see is that the lower dollar amounts you deposit, the
00:00:30.000 | higher kind of annualized yield you get.
00:00:32.800 | And so the outlier there was citizens, which would give you $500 for
00:00:37.320 | depositing $10,000 for five months.
00:00:39.920 | And so if you annualize that, that's a 12% return, but it's only on $10,000.
00:00:44.960 | So if you have $10,000 and that's it, this is great.
00:00:47.580 | If you have a hundred thousand dollars, you'd need to find 10 offers like this,
00:00:51.280 | and that would probably be exhausting.