The best savings accounts often offer cash bonuses. Amboy Direct not only offers a $50 bonus for opening a savings account, but has some of the best savings rates. Amboy Direct’s eSavings account has a 1.51% annual percentage yield (APY). Other details of the offer include:
- Minimum of $100 to open savings account
- Funds can be transferred from non-Amboy Direct savings, checking, or money market accounts
- Unlimited deposits and three free bank-to-bank withdrawals each month
- No monthly balance minimums
To receive the $50 bonus you need a minimum monthly average balance of at least $3,000 for more than 90 days. Accounts with balances below $3,000 won’t receive the best savings rates, and no interest is paid for accounts that fall below $300. As of May 25, the APY for savings accounts with balances below $3,000 was 1%. But keep in mind that the APY can change on a daily basis.
Amboy Direct is a unit of Amboy Bank, which is based in Old Bridge, N.J. Amboy Direct savings accounts can be opened online or by mail. Contact customer service by phone if you need assistance filling out your savings account application.
Account statements are emailed to you each quarter, but you can view your account online at anytime. Amboy Direct savings accounts are FDIC-insured.

