Paprika Capital Bank's Savings Combo: A Strong Rate Plus a Hefty Bonus

If you're sitting on a decent chunk of cash in a low-yield account, it might be time for a move. Right now, Paprika Capital Bank has a compelling one-two punch: a consistently competitive savings rate paired with a cash bonus that scales up nicely with your deposit. It's all facilitated through the Raisin platform, which acts as a marketplace for bank products. Let's break down whether this combo is worth your while and what you need to know to snag it.

The Deal: More Than Just a Good Rate

The headline is the 3.45% annual percentage yield, which is solid in today's market. But the real kicker is the tiered bonus. You're not just earning interest; you're getting a cash reward upfront for moving your money. The bonus structure is straightforward: the more you deposit, the bigger the bonus. It starts at $70 for a deposit between $10,000 and $24,499 and tops out at a cool $1,500 for bringing over $200,000 or more.

Crucially, this isn't a direct offer from the bank in the traditional sense. You'll be opening the Paprika Capital Bank account through Raisin's platform. Think of Raisin as a connector—it partners with banks to offer their products, often with exclusive bonuses. You'll need to sign up there, enter the promo code, and then select Paprika Capital's savings account from their menu of options.

• Deposit $10,000–$24,499: Earn a $70 bonus.
• Deposit $25,000–$49,999: Earn a $175 bonus.
• Deposit $50,000–$99,999: Earn a $350 bonus.
• Deposit $100,000–$199,999: Earn a $750 bonus.
• Deposit $200,000+: Earn the full $1,500 bonus.

Navigating the Fine Print for Your Bonus

To get the bonus, you have to follow the rules to the letter. Missing a single step could mean missing out on the cash. First, you absolutely must enter the promo code 'HEADSTART' when you sign up on the Raisin platform. No code, no bonus—it's that simple.

Timing is everything. Your initial deposit into the new account needs to be started within a specific window. The offer is valid for accounts where that first transfer is set up from January 15th through the end of February 28, 2026. Furthermore, you have a tight 14-day window from when you open the account to get your full qualifying deposit amount moved over. Once the money is in, you can't touch it for 90 days. The 90-day clock starts on the date of your first deposit. If you withdraw funds during that period, you risk forfeiting the bonus.

• Use promo code HEADSTART at sign-up.
• First deposit must be scheduled between Jan 15 and Feb 28, 2026.
• Full deposit must be completed within 14 days of opening.
• Maintain the full deposit balance for 90 consecutive days.
• Bonus will be paid into your Raisin Cash Account within 30 days after the hold period.

Is This the Right Move for Your Savings?

This offer makes the most sense if you have a substantial amount already earmarked for savings that's just sitting elsewhere. The bonus effectively gives you an immediate, guaranteed return on top of the interest. For someone depositing $50,000, the $350 bonus is like getting an extra 0.7% APY upfront for your trouble.

However, it's not for everyone. If you might need that money in the next three months, look elsewhere. The 90-day hold is a commitment. Also, if you're already a Raisin customer, you're out of luck—this is strictly for new users on their platform.

A practical tip: When you initiate the transfer from your old bank, give yourself plenty of time within that 14-day funding window. ACH transfers can take a few business days. Initiate the transfer early to ensure it posts within the deadline.

Bottom Line

• Combine a strong 3.45% APY with a one-time cash bonus by moving savings through Raisin.
• Perfect for those with $10K+ in liquid savings they won't need for at least 90 days.
• Success hinges on using code HEADSTART and meeting strict deposit deadlines.
• The bonus is paid after a 90-day holding period, so plan your cash flow accordingly.

Common Questions