Available nationwide with the ability to open online, E*TRADE is offering a guaranteed 4.00% APY for six months plus a $400 cash bonus when you open a new Premium Savings Account through Morgan Stanley Private Bank. The two components work independently: the 4.00% rate applies automatically to all new accounts — no promo code needed — while the $400 bonus requires depositing new cash, then maintaining that balance.
The rate picture here is genuinely compelling. After the six-month promotional period ends, the account reverts to E*TRADE's standard base rate — currently 3.25% APY, which is still roughly 8x the national savings average and well above what most traditional banks offer. That makes this one of the better savings accounts to stick with long-term even after the boost expires. The $400 bonus on a $20,000 deposit works out to about a 2% return on top of the promotional rate, which stacks nicely for the first six months. Note that funds transferred from other E*TRADE or Morgan Stanley accounts don't count toward the $20,000 net-new requirement — it must be money coming in from outside.
How To Earn The Bonus
The E*TRADE Bank Premium Savings promotion requires you to deposit and maintain a minimum balance in order to earn the $400 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- If the amount maintained is lower than the required Deposit amount, you will be disqualified and will not be eligible for the bonus.
Open a Premium Savings account before the bonus expires on September 30, 2026
How does this personal savings offer from E*TRADE Bank compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Raisin
High Yield Savings
- Bonus
- up to $1200
- Account Type
- Personal Savings
- Expires In
- 22 days
- Requires
- Min Balance
TD Bank
Personal Savings
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 52 days
- Requires
- Min Balance
Why E*TRADE Bank?
Premium Savings
The E*TRADE Premium Savings Account is a high-yield savings account offered through Morgan Stanley Private Bank, National Association (Member FDIC), currently paying a base rate of 3.25% APY — roughly 8x the national savings average. Interest compounds daily and is credited to the account monthly, with no minimum balance required to earn the rate and no cap on how much can earn it (up to $10,000,000).
One of the account's most practical features is its seamless integration with the E*TRADE brokerage platform — funds can be transferred to an E*TRADE brokerage account instantly, making it easy to move cash into investments without waiting for transfers to settle. Standard external transfers from outside accounts take three business days, but the brokerage-to-savings connection is immediate. The account can be managed fully online or through E*TRADE's mobile app, with 24/7 customer support available.
FDIC coverage on the Premium Savings Account is enhanced beyond the standard $250,000 limit. Morgan Stanley Private Bank uses a deposit sweep program to distribute funds across multiple FDIC-member banks, providing coverage of up to $500,000 for individual accounts and up to $1,000,000 for joint accounts. Unlike a CD, the account offers unlimited penalty-free access to your cash at any time, making it suitable for both emergency reserves and longer-term cash holdings.
Fees
Premium Savings does not charge a monthly maintenance fee.
Apply now for a Premium Savings account to earn the $400 bonus offer
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