[Ends 11/25] Robinhood 1% Increase On Deposits (Limitless Money Bonus)

Replace 10/28/24: Gold deposit increase efficient Nov 25

Supply at a look

• Most bonus quantity: Limitless 1% increase
• Availability: Nationwide to Robinhood Gold members
•  Direct deposit required: None
• Further necessities: None
• Exhausting/gentle pull:
• ChexSystems:
• Bank card funding: None
• Month-to-month charges: Robinhood Gold prices $5/month
• Early account termination charge: Bonus paid out in 24 month-to-month increments
• Family restrict: None
• Expiration date: Unknown

The Supply

Direct Hyperlink to supply

• Robinhood Gold members who make a brand new, eligible deposit and stay a Gold member for two years get a 1% increase on deposits with no restrict.

• There’s no restrict on how a lot you possibly can earn. After you get your 1% increase, it’s yours to maintain—use it to take a position or earn 5% APY.

• The bonus is paid out in 24 increments as long as the funds are nonetheless in your Robinhood money account or invested with Robinhood.

• This bonus is paid on money deposits or on new investments made, however not on ACATS transfers.

Avoiding Charges

You want to be a Robinhood Gold subscriber to get this bonus. That prices $5 per 30 days. You’ll have to hold the subscription for the whole 24 month interval that the bonus is being paid out.

Our Verdict

There’s an identical 1% bonus from Robinhood for ACATS brokerage transfers; that supply doesn’t require Gold and that bonus pays out instantly (although funds want to stay for two years). This new supply is for money transfers; it’s just for Gold members and pays in 24 increments over the next 24 months.

For the reason that 1% is paid out in month-to-month increments, we will take a look at it principally as a lift to the common 5%  rate of interest. With the increase you’re incomes round 5.5% which is a pleasant rate of interest.

Be aware, when you subscribe to Gold for the aim of this deal, that cuts into your revenue by $60 per 12 months. (See this publish.) Nonetheless somebody with numerous money may be capable of do properly with the 5.5% rate of interest. If the rate of interest turns into uncompetitive, you possibly can all the time withdraw your cash and hold the boosts already acquired.

This deal can also be fascinating to somebody with money to take a position. For instance, when you simply received $100k bonus at work and also you wish to dump it into the market to carry long run, you should purchase with Robinhood and get $1,000 bonus.

Although I don’t discover this deal terribly thrilling, it’s nonetheless fascinating and may be helpful to some folks. We’ll add this to our listing of Greatest Financial institution Account Bonuses. 

Hat tip to readers pizza and Alex

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