Snag a $250 Bonus from Springs Valley Bank & Trust – Here’s How

If you live in Indiana and are on the hunt for a straightforward bank bonus, Springs Valley Bank & Trust is offering a solid $250 opportunity. It’s not the highest bonus out there, but the requirements are pretty manageable. Let’s break down exactly what you need to do to get that cash.

What You Need to Do for the $250

First, you’ll open a new Free eZChecking account. That’s the only checking product eligible for this bonus. Then, you have 60 days from opening to complete four simple steps:

Set up direct deposit and have at least $1,500 hit your account. This can be from payroll, pension, Social Security, or other recurring electronic deposits. Transfers from other accounts you own typically don’t count, so make sure it’s a genuine direct deposit from an employer or agency.

Open a new Focus Savings Account and keep an average daily balance of $100 or more for those 60 days. That’s pretty easy—just park $100 in there and don’t touch it.

Enroll in Online Banking and eStatements. Both are free and take just a few minutes.

Once you’ve done all that, the bank will credit your checking account with $250, usually within 90 days. You’ll see it labeled “250 Bonus” on your statement.

• Open Free eZChecking account (new customers only)
• Receive $1,500+ in qualifying direct deposits within 60 days
• Open Focus Savings and maintain $100 avg daily balance for 60 days
• Enroll in Online Banking and eStatements

A Few Fine Print Traps to Watch For

This offer is only for new personal checking customers. If you or anyone on the account currently has signing authority on a Springs Valley checking account, or if you closed one within the last 90 days, you’re out of luck. Also, you can only get one bonus per calendar year, so no doubling up.

The bank uses ChexSystems, and they’re known to be sensitive. If you’ve had past banking issues, you might want to check your ChexSystems report before applying. A hard or soft pull? It’s not specified, so assume a hard inquiry could happen.

And yes, the bonus is taxable. You’ll likely get a 1099-INT, so plan accordingly.

Is It Worth Your Time?

For Indiana residents, this is a decent bonus with relatively low requirements. You only need $1,500 in direct deposits and a $100 savings balance. Compare that to some national offers that require $5,000+ in deposits or hefty minimum balances. The main catch is the availability—only in Indiana. If you’re outside the state, you’ll need to look elsewhere.

Also, note that you can fund the account with up to $2,500 via credit card, which is a nice perk if you want to earn rewards on that spend. Just be aware of any cash advance fees or interest charges.

Bottom Line

• $250 bonus for opening Free eZChecking and meeting four conditions within 60 days
• Requires $1,500 in direct deposits and a $100 savings balance for 60 days
• Only for Indiana residents; new customers only; one bonus per year
• Bonus credited within 90 days; taxable income

Common Questions