BofA Business Advantage $750 Savings Bonus (32.4% Effective APY) - 2026 Review
Bonus Tiers & Effective APY
Overview
Bank of America Business Advantage pays $400 or $750 depending on whether you deposit $5,000 or $15,000 within 30 days. Maintain for 60 days. Stacks beautifully with BofA Preferred Rewards — the combined BofA + Merrill balance from this deposit can push you into Platinum Honors tier (75% boost on travel rewards, 3.5% cash back on cards).
Who This Savings Bonus Is Best For
BofA customers (especially Preferred Rewards tier pursuers), and anyone with $15k+ in business funds who'd benefit from consolidating at BofA. Weak standalone play; strong if you care about Preferred Rewards.
How to Maximize This Bonus
Open BofA Business Advantage Banking online. Deposit $15,000 in net-new funds within 30 days and maintain for 60 days. Make sure your business cards are BofA — the Preferred Rewards uplift on your personal cards is where the real long-term value lives. Target the $750 tier; the $400 tier is fine but leaves obvious money on the table if you have the cash.
Pros
Cons
How This Compares to Other Bonuses
BofA $750 at $15k is a tie with Chase $750 at $20k — BofA wins on deposit efficiency. But Chase's business platform features (QuickAccept, integration with Chase Ink cards) are stronger if you don't care about Preferred Rewards.
Frequently Asked Questions
What is Preferred Rewards?
BofA's tiered loyalty program that boosts credit card rewards based on combined BofA + Merrill balances. $20k = Gold, $50k = Platinum, $100k = Platinum Honors (75% reward boost).
Does business checking count toward Preferred Rewards?
Yes. Business Advantage Banking balances count toward your Preferred Rewards tier calculation, combined with personal BofA + Merrill balances.
Do I need an LLC?
No — sole proprietors can qualify. But LLCs and corporations have smoother account-opening experiences.
Related Bonus Reviews
Eligibility
Business Advantage Banking. Deposit in 30 days, maintain 60 days.
Fees
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Bonus offers, requirements, and fees are determined by each financial institution and may change at any time. Always verify the current terms directly with the bank before applying. This content is for informational purposes only and does not constitute financial advice.