Home Federal Savings Bank promotions, bonuses, and offers can be found updated here.
Currently, they have a $250 bonus when you open a Checking Account and meet the requirements. There is also a $50 referral bonus.
About Home Federal Savings Bank Promotions
Home Federal Savings Bank was founded in Spring Valley, Minnesota in 1934. They have been committed to providing great service and competitive products to individuals and businesses ever since. They have over 16 locations across Minnesota, Iowa, and Wisconsin.
I’ll review the current Home Federal Savings Bank Promotions below.
Home Federal Savings Bank $250 Checking Bonus
Home Federal Savings Bank is offering up to a $250 checking bonus when you open a new qualifying checking account and complete certain requirements. You can open the account online.
- What you’ll get: $250 bonus
- Account Type: Personal Checking Account
- Availability: MN, IA, WI (Bank Locator)
- Direct Deposit Requirement: Yes, no minimum specified (see what works)
- Credit Inquiry: Soft Pull
- ChexSystems: Yes, Sensitive. Any person with more than 5 ChexSystems inquiries will not qualify for this promotion.
- Credit Card Funding: Unknown
- Monthly Fees: $0-$10; waivable
- Early Account Termination Fee: None
- Household Limit: None
(Expires 10/31/2023)
| For more advanced features in a checking account, compare this offer to BMO Relationship Checking ($600 Bonus), U.S. Bank Smartly® Checking ($1000 bonus), Chase Private Client ($3,000 Bonus), TD Bank Beyond Checking ($300 Bonus) |
How To Earn Bonus
- Open a Checking Account with a Direct Deposit of $500: You’ll Earn $200
- Plus! For every new account opened, we’ll match your Bonus Cash by donating: $200 to a Local Charity
- Add a Debit Card to your checking account: You’ll Earn $25
- Enroll in Online Banking & eStatements: You’ll Earn $25
- Refer-A-Friend to Open a New Checking Account: You’ll Earn $50 (per Friend!)
- Health Savings Accounts are not eligible for the $200 bonus. New account owners must not have been a Home Federal checking account client in the last 12 months. Interest Advantage account earns interest and the Annual Percentage Yield (APY) is as follows: balances $5,000.00 or less, 2.00% APY; $5,000.01 and over, 0.05% APY. APYs are accurate as of 01/01/2023. Checking account minimum opening balance is $25 and direct deposit minimum qualification is $500 (combined total of direct deposits during one statement cycle) to earn bonus. $200 bonus reward will be credited to your checking account within 60 calendar days of meeting the qualifications. Qualifications must be met by 10/31/2023 (direct deposit must clear by 12/29/2023) to obtain the bonus. Bonus reward will be reported as interest on IRS Form 1099-INT. A $75 early closing fee will be charged by the bank if the account closes within the first 6 months. Any person with more than 5 ChexSystems inquiries will not qualify for this promotion. Fees could reduce earnings on the account. Interest rates and APY may change at any time. Other restrictions may apply. This offer is subject to change and may be withdrawn without notice. Member FDIC.
- Health Savings Accounts are not eligible. Checking account linked to online banking account must not have had an online banking account and eStatements active in the last 12 months. Account ownership styling and transaction authority may disqualify eligibility to receive the $25 bonus reward. Bonus reward will be credited to your checking account within 60 calendar days of meeting the qualifications. Qualifications must be met by 10/31/2023 to obtain the bonus. Bonus reward will be reported as interest on IRS Form 1099-INT. Any person with more than 5 ChexSystems inquiries will not qualify for this promotion. Fees could reduce earnings on the account. Other restrictions may apply. This offer is subject to change and may be withdrawn without notice. Member FDIC.
- Health Savings Accounts are not eligible. Referred party must not have been a Home Federal checking account client in the last 12 months. Referral qualification will be met once newly referred party’s account is opened. $50 bonus rewards will be credited to referring client’s and newly referred client’s checking accounts within 60 calendar days of the referred client’s checking account opening. Checking account minimum opening balance is $25. Account ownership styling and transaction authority may disqualify eligibility to receive the $50 bonus reward. Fees could reduce earnings on the account. Participation serves as a one-time limited waiver of privacy rights by both parties, whereby each may become aware of the presence of an account relationship with Home Federal. $50 bonus rewards will be reported as interest on IRS Form 1099-INT. Other restrictions may apply. This offer is subject to change and may be withdrawn without notice. Member FDIC.
How To Waive Monthly Fees
- Advantage Checking: None
- Interest Advantage Checking: $10 monthly fee, waivable by maintaining a cumulative balance of more than $5,000 in any Home Federal deposit account, obtain a secured loan from Home Federal, have at least $1,000 direct deposit into the account per statement cycle, own a business with an active business checking account at Home Federal, work for Home Federal, and are 24 years old or younger.
- Health Savings Account: None
- Basic Savings: $3.00 monthly fee, waivable by maintaining an average monthly balance of at least $50.00.
- Basic Business: First 100 items per month are free. $0.25 per item after first 100
- Business Advantage: $20 monthly fee, waivable with a $20,000.00 minimum daily balance.
- Business: $13 monthly fee, Check with CSR to see how to waive.
- Nonprofit: None
- Nonprofit Interest: $13 monthly fee, Check with CSR to see how to waive.
- Commercial Basic Savings: $3 monthly fee, waivable by maintaining a minimum balance of $50.00
- Business Money Market: $10 monthly fee, waivable by maintaining a minimum balance of $1,000.00
- Commercial Preferred Money Market: $25 monthly fee, waivable by maintaining a minimum balance of $25,000.00
Bottom Line
Lastly, Home Federal Savings Bank is currently offering a wide variety of bonuses, promotions, and offers as well as great account features to help you in any situation.
However, while they have generous checking bonuses, Home Federal Savings Bank doesn’t have great rates for CDs and Savings. Furthermore, you may want to check out our full list of Bank Rates and CD Rates.
*Compare Home Federal Savings Bank Promotions with other bank bonuses from banks like Citi, Huntington, HSBC, Chase, TD, Discover Bank, Aspiration, Axos Bank, PNC Bank, BMO Harris, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, US Bank, and more!*
*Check back at this page for updated Home Federal Savings Bank promotions, bonuses, and offers.
Home Federal is also in WI. They are very sensitive to ChexSystems … denied due to “account abuse”