Provide at a look
- Most bonus quantity: Limitless 1% enhance
- Availability: Nationwide to Robinhood Gold members
- Direct deposit required: None
- Extra necessities: None
- Onerous/comfortable pull:
- ChexSystems:
- Bank card funding: None
- Month-to-month charges: Robinhood Gold prices $5/month
- Early account termination price: Bonus paid out in 24 month-to-month increments
- Family restrict: None
- Expiration date: Unknown
The Provide
Robinhood Gold members who make a brand new, eligible deposit and stay a Gold member for two years get a 1% enhance on deposits with no restrict.
There’s no restrict on how a lot you may earn. After you get your 1% enhance, it’s yours to maintain—use it to speculate or earn 5% APY.
The bonus is paid out in 24 increments as long as the funds are nonetheless in your Robinhood money account or invested with Robinhood.
- This bonus is paid on money deposits or on new investments made, however not on ACATS transfers.
Avoiding Charges
It’s good to be a Robinhood Gold subscriber to get this bonus. That prices $5 monthly. You’ll must preserve the subscription for the whole 24 month interval that the bonus is being paid out.
Our Verdict
There’s a similar 1% bonus from Robinhood for ACATS brokerage transfers; that supply doesn’t require Gold and that bonus pays out instantly (although funds want to stay for two years). This new supply is for money transfers; it’s just for Gold members and pays in 24 increments over the next 24 months.
For the reason that 1% is paid out in month-to-month increments, we will take a look at it mainly as a lift to the common 5% rate of interest. With the enhance you’re incomes round 5.5% which is a nice interest rate.
Notice, in case you subscribe to Gold for the aim of this deal, that cuts into your revenue by $60 per yr. Nonetheless somebody with numerous money would possibly be capable to do properly with the 5.5% rate of interest. If the rate of interest turns into uncompetitive, you may all the time withdraw your cash and preserve the boosts already obtained.
This deal can be attention-grabbing to somebody with money to speculate. For instance, in case you simply obtained $100k bonus at work and also you wish to dump it into the market to carry long run, you should purchase with Robinhood and get $1,000 bonus.
Although I don’t discover this deal terribly thrilling, it’s nonetheless attention-grabbing and might be helpful to some folks. We’ll add this to our list of Best Bank Account Bonuses.
Hat tip to readers pizza and Alex
Helpful posts relating to financial institution bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very helpful for sorting bonuses by totally different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
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- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
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