Grinnell State Bank in Iowa will contribute a $50 bonus to your child’s education when you open a new College Fund Account with a checking or savings account by May 31, 2015.
Grinnell State Bank has branches in Iowa that are located in Grinnell, Marengo, Johnston, Urbandale, and Polk City.
How To Get a $50 Bonus from Grinnell State Bank
1. Open a new Grinnell State Bank College Fund Account with a $250 minimum opening deposit.
2. Open a new Grinnell State Bank checking or savings account with a $500 minimum opening deposit.
3. Grinnell State Bank will deposit your $50 bonus into your College Fund Account after 90 days upon meeting the requirements.
Check out this Promotional Offer for more details about this bonus in Iowa.
Grinnell State Bank College Fund Account Details
The College Fund Account has a $250 minimum opening deposit requirement.
There is no monthly service charge for the College Fund Account.
You’ll also earn interest on your savings with a $250 average available balance, which is subject to quarterly change.
Grinnell State Bank $50 Bonus Details for College Fund Account
There is a limit of 1 College Fund Account per minor with no more than a total of 10 College Fund Accounts per primary owner deposit account relationship opened.
Your bonus will be automatically deposited into your Grinnell State Bank College Fund account after 90 days if the accounts meet the following requirements: all accounts are open for 90 days; and the coinciding checking/savings account is active and in good standing.
To maintain an active account in good standing requires account activity every 60 days and that the account maintains a positive balance.
The value of your bonus will be reported as interest income to the IRS on Form 1099-INT.
Grinnell State Bank Checking and Savings Account Options
Grinnell State Bank offers various checking and savings accounts.
However, they do have minimum balance requirements to avoid the monthly maintenance fees, although the minimum balance requirements are pretty reasonable for several of their accounts.
Simply Checking – There is a $100 minimum opening deposit and no balance requirements, but this account has a monthly service fee of $1.50, and only $1 can be waived with online statements or a recurring direct deposit, so you’ll always have a $0.50 monthly fee no matter what you do.
Preferred Checking – There is a $100 minimum opening deposit and a $750 average balance to avoid the monthly service charge. This account is probably your best checking option, because you can avoid the monthly service fee altogether.
Personal Savings – There is a $100 minimum opening deposit and a $100 average balance to avoid the monthly service charge. This is probably the best savings option to avoid the monthly fee.
There are other checking and savings accounts available, but they start with a $2,500 minimum balance to avoid the monthly fee.
Open a College Fund Account from Grinnell State Bank as well as a checking or savings account to receive an extra $50 bonus toward your child’s future education.
Iowa residents may also be interested in this AnchorBank promotion to earn more bonus cash.