Enhanced Savings Offer! E*Trade (Morgan Stanley Private Bank) is currently running enticing promotions for new customers on both their savings and checking accounts:
- Premium Savings: Up to $2,000 deposit bonus + 3.50% APY
- Max-Rate Checking: $300 bonus + up to 2.00% APY
A shoutout to reader Greg for sharing this information.
Details on the $2,000 Savings Promotion (Deposit Bonus):
- Open a new Premium Savings Account at etrade.com by February 28, 2026, using promo code SAVE26.
- Deposit qualifying new funds (see tier breakdown below) within the first 30 days of opening the account.
- Keep the balance for an additional 45 days after the initial 30-day funding period to qualify for your bonus.
If your deposit meets the minimum of a tier precisely, it can yield a bonus of up to 1.5%. However, some tiers may offer as low as 1%. For example, if you maintain your balance for 60 days, a 1.5% bonus translates to a 9% annualized return. When this is added to the current 3.50% APY on the Premium Savings account, the total reaches 12.50% APY.
Even with the minimum bonus of 1% for 60 days, this equates to a 6% annualized bonus. Including the 3.50% APY, the total would then be 9.50% APY. Quite appealing!
$300 Checking Promotion Details (Direct Deposit Required):
- Open a new checking or max-rate account using promo code CHECKING25. Note: You are ineligible if you have owned or co-owned a Checking or Max-Rate Checking Account within the last 12 months prior to enrolling in this offer.
- Complete at least two direct deposits of $1,500 or more within 90 days of opening your new account.
- The bonus should be credited approximately 120 days after account opening.
As of January 5, 2026, the Max-Rate Checking Account offers a 2.00% APY, but you must maintain a $5,000 average monthly balance to avoid a $15 monthly fee. The basic Checking Account provides only a 0.05% APY (essentially negligible) but does not have a minimum balance requirement. It’s worth noting that you’ll want to keep your account open for an extra few months to qualify for the bonus, making the basic Checking potentially more viable.
