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.
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.
[Expired] 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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