For those in the market for a new online savings account, E-Loan just created a very interesting offer which will give you about $75.00 for signing up with a new account. If you’ve never considered E-Loan as a place to bank with before, go ahead and read my full review of their online savings product. In short, it’s a great place to save money if you can spot the $5,000 opening deposit. Here’s how you can get this great bonus.

1 – Open up a My Points Account – My Points is one of internet companies from before the dot-com era that’s still around. Basically it’ll give you points which you can redeem for making purchases and signing up for products. It’s free to join, but you might want to use a different email address than usual incase they decide to sell your email address.

2 – Browse to E-Loan Through the Special My Points Link – You’ll have to do some searching around on the My Points website to find the E-Loan deal, but you should find an ad for it with a simple search.

3 – Open an Account with E-Loan – E-loan has a fairly decent sign-up process, the one down side is that you have to open an account with at least $5000 for your initial deposit, which can be a bit much for some people

4 – Redeem Your Rewards – After you sign-up, you’ll be given 7,500 points. One point equates to about one cent. You’ll receive 7,500 points for signing up for an e-loan account, which can be redeemed for gift certificates at dozens of different stores, such as FTD, The Apple Store, Starbucks, Blockbuster, and dozens of others. They have a lot of great stuff that you’ll use eventually. It’s not cash, but it’s about the next best thing.

This sign-up bonus is a bit more of a hassle than some others, but $75.00 worth of stuff for opening a savings account is not a bad deal at all. If you had plans to open up an E-Loan account otherwise, there’s no reason not to.

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