The sample inputs are hypothetical, not an available bank offer or a current interest-rate quote. Use the qualifying bonus tier, the balance you will actually hold, the fees you expect to pay, and the APYs from the accounts you are comparing.
How the estimate works
Extra value = cash bonus − total fees + offer-account interest − alternative-account interest. For each account, estimated interest = balance × ((1 + APY ÷ 100)days ÷ 365 − 1).
The calculation assumes a constant balance, constant APYs, a 365-day year, and that you earn the bonus. It is before tax and excludes your time, changing balances, and other account benefits or costs. Actual interest accrual and payment may differ. Direct deposit totals are not necessarily required maintained balances.
Suppose a hypothetical account pays a $300 cash bonus, holds a constant balance for 90 days, pays no interest and charges no fees. If you could instead earn a hypothetical 4% APY elsewhere, the foregone interest changes with the balance:
$5,000 held
$251.41 estimated extra value
$300.00 bonus − $48.59 alternative interest = $251.41 before tax.
$25,000 held
$57.06 estimated extra value
$300.00 bonus − $242.94 alternative interest = $57.06 before tax.
These are examples, not current account terms or APY quotes. They assume you qualify and receive the bonus. Actual fees, account interest, taxes, changing balances and your time can change the result. Enter the figures for an offer you can qualify for above.
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