State Bank Of India (California) $150 Checking Bonus [CA Residents]

Find updated promotions and bonuses from State Bank of India (California) here. Typical promotions in the past have been for $100 to $200 cash.

Established in 1982 and headquartered in Los Angeles, California, State Bank of India has just nearly 10 locations in the state. If you’re not a California resident, see our Bank Bonuses page for other offers with more availability, such as those from Chase Bank, HSBC, TD Bank, Simple Bank and more.

State Bank of India often has a good rate offer for their Money Market account, but the minimum balance will be hefty (often $200k for the best rate). Compare their rates to the nation’s best here: Savings/Money Market rates | CD rates.

I’ll review the current offers below.

State Bank Of India (California) $150 Checking Bonus

This $150 bonus offer is for a new Signature Checking account and direct deposit will be required.

• $150 bonus offer has no listed expiration date and can end at any time
• Available in California only
• Signature Checking Account is eligible for the bonus
• Application will trigger a Soft Pull, which does not affect your credit
• Monthly fee can be waived (see below)
• Minimum opening deposit is $100
• If you close your account within 6 months of opening you will forfeit the bonus

How To Earn The $150 Bonus

• Open a new Signature Checking account
• Meet all the following required conditions for 3 consecutive statement cycles within 5 statement cycles from the date of opening the account:
  • At least 1 Direct Deposit of $500.00 or more from pension, credit of your salary, Social Security or other regular monthly income (for 3 consecutive statement cycles).
  • At least 2 Point-of-sale (POS) debit transactions (for 3 consecutive statement cycles).
  • Register for eStatements after enrolling in State Bank of India (California)’s Consumer Online Banking Service.
• If your account meets all the required conditions above, the account is eligible to receive a one-time $150.00 reward credit after 120 days.
• Reward will be credited to the account at the end of fifth statement cycle.
• If your account is closed before the credit is applied, you will forfeit the $150.00 reward credit.

How To Waive The Monthly Fee

To waive the monthly fee, either have a Minimum Daily Balance of $2,000 in the account or Combined Daily Balance of $7,500 in consumer linked checking or savings deposit accounts. Otherwise, an $18 monthly fee will apply.

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