[Expired] [Ends 11/25] Robinhood 1% Boost On Deposits (Unlimited Cash Bonus)

deal has ended, view more Robinhood deals by clicking here.

Update 10/28/24: Gold deposit boost effective Nov 25

Offer at a glance

• Maximum bonus amount: Unlimited 1% boost
• Availability: Nationwide to Robinhood Gold members
•  Direct deposit required: None
• Additional requirements: None
• Hard/soft pull:
• ChexSystems:
• Credit card funding: None
• Monthly fees: Robinhood Gold costs $5/month
• Early account termination fee: Bonus paid out in 24 monthly increments
• Household limit: None
• Expiration date: Unknown

The Offer

Direct Link to offer

• Robinhood Gold members who make a new, eligible deposit and remain a Gold member for 2 years get a 1% boost on deposits with no limit.

• There’s no limit on how much you can earn. After you get your 1% boost, it’s yours to keep—use it to invest or earn 5% APY.

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

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

Avoiding Fees

You need to be a Robinhood Gold subscriber to get this bonus. That costs $5 per month. You’ll need to keep the subscription for the entire 24 month period that the bonus is being paid out.

Our Verdict

There’s a similar 1% bonus from Robinhood for ACATS brokerage transfers; that offer does not require Gold and that bonus pays out immediately (though funds need to remain for 2 years). This new offer is for cash transfers; it’s only for Gold members and pays in 24 increments over the following 24 months.

Since the 1% is paid out in monthly increments, we can look at it basically as a boost to the regular 5%  interest rate. With the boost you’re earning around 5.5% which is a nice interest rate.

Note, if you subscribe to Gold for the purpose of this deal, that cuts into your profit by $60 per year. (See this post.) Still someone with a lot of cash might be able to do nicely with the 5.5% interest rate. If the interest rate becomes uncompetitive, you can always withdraw your money and keep the boosts already received.

This deal is also interesting to someone with cash to invest. For example, if you just got $100k bonus at work and you want to dump it into the market to hold long term, you can buy with Robinhood and get $1,000 bonus.

Though I don’t find this deal terribly exciting, it’s still interesting and can be useful to some people. We’ll add this to our list of Best Bank Account Bonuses. 

Hat tip to readers pizza and Alex

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times