If you’re looking for a high-yield savings account with both a strong interest rate and a cash bonus, the new offer from E*TRADE from Morgan Stanley is worth a look.
For a limited time, new customers can earn a boosted 4.00% APY for 6 months plus a $250 cash bonus when opening a new Morgan Stanley Private Bank Premium Savings Account with promo code SPRING26. The offer is available through June 9, 2026.
They also offer a $300 checking bonus, read about it here. If you’re looking for a brokerage bonus (currently up to $10,000) you can read about that here. For more checking and savings account bonuses, see our curated list.
E*TRADE Premium Savings Account Bonus Summary
- Bank: Morgan Stanley Private Bank / E*TRADE
- Account: Premium Savings Account
- Bonus: $250 cash bonus
- APY: 4.00% APY for 6 months
- Base APY afterward: Currently 3.25% APY
- Promo Code: SPRING26
- Expiration Date: June 9, 2026
- Minimum Deposit for Bonus: $20,000 in new money
- Availability: U.S. residents only
- Monthly Fees: None
- Minimum Opening Deposit: $0
How To Earn The $250 Bonus
Here’s how to qualify for the E*TRADE Premium Savings Account bonus:
- Open a new Premium Savings Account by June 9, 2026 using promo code SPRING26
- Deposit at least $20,000 in qualifying new funds within 30 days of opening the account
- Maintain the required balance for an additional 45 days
- Receive your $250 bonus within 30 days after completing the maintenance period
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Earn 4.00% APY For 6 Months
In addition to the cash bonus, this offer also includes a boosted 4.00% APY for the first 6 months after account opening. After the promotional period ends, the account reverts to the standard variable APY, which is currently 3.25%.
According to E*TRADE, the promotional rate is roughly 10x the national average savings rate.
What Counts As “New Money”?
To qualify, your deposit must come from outside Morgan Stanley Private Bank and its affiliates.
Eligible funding sources generally include:
- Transfers from external bank accounts
- ACH transfers from another bank
- External wire transfers
Funds transferred internally from E*TRADE or Morgan Stanley accounts generally do not count toward the bonus requirement.
Account Features
The Premium Savings Account includes several attractive features:
- No monthly maintenance fees
- No minimum opening deposit
- FDIC insurance coverage up to $500,000 for eligible individual accounts
- Easy transfers between E*TRADE brokerage and banking accounts
- Daily compounded interest
Trending Checking Account Deal:
Is The E*TRADE Savings Bonus Worth It?
This is a solid offer for savers who already keep a larger cash balance and want both:
- a competitive high-yield savings rate, and
- an easy cash bonus without direct deposit requirements.
The biggest advantage is simplicity. Unlike many bank bonuses that require payroll setup or debit card transactions, this offer mainly requires parking new money in the account for a little over two months.
However, the required $20,000 deposit may be too high for some people compared to other savings bonuses on the market.
See the Best Checking & Savings Account Bonuses and Start Earning Free Cash Today
Final Thoughts
The E*TRADE Premium Savings Account offer combines a strong promotional APY with a straightforward $250 bonus, making it one of the more attractive high-yield savings promotions currently available.
If you already keep emergency savings or cash reserves sitting in a lower-yield account, moving those funds to E*TRADE for a few months could help you earn both higher interest and an additional bonus.
You can learn more or apply directly through E*TRADE’s official offer page.
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