10% on my Savings

Currently I have my checking account with JPMorgan Chase. Why? Because some time ago, they gave me $25 to open a checking account and with direct deposit, the checking account was free and so is their bill pay. I do like their bill pay. It works well.

I do not have my savings account with Chase. I have use two internet only banks for that. One is Emigrant Direct (They are paying 4.3%) and the other bank is Amtrust Direct (They are paying 5.11% on new accounts) These are both great rates.

I'm about to open a third savings account. This one at Chase. In todays mail, the sent me an offer. If I open up a saving account with $500, they will give me $25. The only catch is I have to leave $500 in the account for 6 months. Well, $25 on $500 is 5%. That is if I leave the money there for one year. Leaving in there for just 6 months turns that $25 into 10% return on my $500.

After the 6 months is up, I'll most likely roll the funds back to Emigrant or Amtrust. I love putting money to work.