Home Federal Savings Bank promotions, bonuses, and offers can be found updated here.
Update 3/25/24: We just found a $290 checking bonus good until 12/31/2024. In addition, the referral bonus has increased to $90 per (from $50).
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 $290 Checking Bonus
- What you’ll get: $290 bonus
- Account Type: 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 12/31/2024)
| BMO Smart Money Checking ($400 cash bonus*) | BMO Smart Advantage Checking ($400 cash bonus*) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | SoFi Checking and Savings ($325 bonus) |
How To Earn Bonus
- Open a Home Federal Checking Account by 12/31/24
- Set up direct deposit of at least $500.
- You must activate debit car and online banking with eStatements enrollment to qualify for the $290 bonus.
- Health Savings Accounts are not eligible for the $290 reward.
- New account owners must not have been a Home Federal checking account client in the last 12 months.
- An 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, 2.02%-0.06% APY. APYs are accurate as of 01/01/2024.
- 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 reward.
- Checking account also requires new debit card activation and online banking with eStatements enrollment to qualify for $290 reward. Account ownership styling and transaction authority may disqualify eligibility to receive the reward.
- The reward will be credited to your checking account within 60 calendar days of meeting all qualifications. Qualifications must be met by 12/31/2024 (direct deposit must clear by 02/28/2025) to obtain the reward.
- The $290 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 after the account is opened. Other restrictions may apply.
- This offer is subject to change and may be withdrawn without notice. Member FDIC.
Home Federal Savings Bank $90 Referral Bonus
- What you’ll get: $90 bonus
- Account Type: Checking Account
- Availability: MN, IA, WI (Bank Locator)
- Direct Deposit Requirement: No
- 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
(Limited time offer)
| BMO Smart Money Checking ($400 cash bonus*) | KeyBank Checking ($300 bonus) |
| Chase Private Client ($3,000 Bonus) | HSBC Premier Checking (Up to $3,000 Cash Bonus), |
How To Earn Bonus
- Refer a friend or family member to open a qualifying checking account and both of you will earn $90!
- Print out some Refer-A-Friend referral cards (or pick some up from your nearest Home Federal) and fill in your name and phone number.
- Give a completed form to each of your friends and family members
- Wait for them to open their new account and watch for your reward(s) to show up in yours!
- It’s THAT easy! Plus, your earning ability is endless as there is NO LIMIT on the number of referrals. The more people you refer, the more money you’ll make!
- Redemption of Refer-A-Friend serves as a one-time waiver of privacy rights as the referral source will be aware of this account opening.
- Health Savings accounts are not eligible. Referred party must not have been a HF checking account client in the last 12 months.
- Individual $90 rewards will be credited to both the referring client’s and the 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 $90 reward.
- $90 Reward will be reported as interest on IRS Form 1099-INT.
- The anniversary reward amount of $90 is available in 2024 only.
- This offer is subject to change and may be withdrawn without notice.
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.
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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, Axos Bank, PNC Bank, BMO, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, U.S. 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”