Are you contemplating of opening a new IRA account? Or, planning of rolling over your old 401k? There are many financial institutions that offer this type of financial product and others do offer this with an additional incentive like free cash when you open a new IRA account with them. This kind of offer though doesn’t last forever.
For example, TD Ameritrade is currently offering what it calls the TD Ameritrade Easy IRA wherein you will have the opportunity to earn up to $600 cash when you open a new IRA account with them.
However, the cash bonus of up to $600 is not given outright. You must meet certain requirements of the financial institution to earn up to the declared $600 cash bonus.
Here is how:
1. To receive the $100 IRA bonus, your new IRA account must be funded with $25,000 or more within 60 days of account opening;
2. To receive the $300 IRA bonus, your new IRA account must be funded with $100,000 or more within 60 days of account opening; and
3. To receive the $600 IRA bonus, your new IRA account must be funded with $250,000 or more within 60 days of account opening.
As indicated earlier, this offer does not last forever and is valid for one new individual, joint or IRA TD Ameritrade account opened by December 31, 2012. Also, to be eligible, the account must be funded within 60 days of account opening with $2,000 or more. In other words, you have to open the account by December 31, 2012 and initially fund the account of at least $2,000 to be eligible for the offer. However, in order to get the equivalent cash bonus of $100, you must fund the account of $25,000 or more within 60 days of account opening as indicated in Item 1 above. And, to get a much higher bonus of say $300 or $600 the corresponding amount required must be deposited into the account.
TD Ameritrade even rewards 401k rollovers such that when you rollover your old 401k, you will be eligible to receive up to $600 cash. As mentioned, the cash bonus depends on how much money you put into your new IRA account. In other words, the larger the amount in your IRA account, the greater the bonus you will get or receive.
If you want to search for more IRA offers, there is another offer from Merrill Edge where you will also get the chance to earn up to $500 cash when you open a new Merrill Edge IRA.