Newest Frost Promotions, Bonuses and Offers: August 2020

Frost Bank promotions

Texas-based Frost Bank has been around for more than 150 years and currently has more than 130 locations across the Lone Star State. This regional bank emphasizes customer service, competitive interest rates and products tailored to local needs. It occasionally runs promotions to lure in new customers, even though many of those customers might not have heard about them.

GOBankingRates survey revealed that many Americans miss out on free money from banks because they aren’t aware of promotions and special offers. More than 75% of respondents said they hadn’t compared banks in the past two years. In doing so, they’re effectively leaving money on the table. You can avoid that fate by exploring how Frost Bank can put more money in your pocket.

Current Frost Bank Promotions

Frost doesn’t have any cash bonuses available this month, but the bank does offer other ways to save and earn money. You can qualify for fee waivers for personal checking accounts as well as interest rate discounts for select loans. Here are the details:

Personal Checking Account Fee Waivers

Checking account fees can eat up your balance in a hurry, so it’s always beneficial to find ways to avoid them. Here’s how you can have Frost Bank’s monthly checking account fees waived:

  • Frost Personal Account: The $8 monthly service charge can be waived with a $100 monthly direct deposit, a $1,000 minimum daily balance or $5,000 in combined balances across accounts.
  • Frost Plus Account: The $15 monthly service charge can be waived if you have combined balances of $10,000 or if you have a Frost real estate loan.
  • Frost Premium Account: The $30 monthly service charge can be waived if you have combined balances of $250,000.

The U25 Frost Personal Account doesn’t have a monthly fee if you’re younger than age 25.

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Personal Auto Loan Interest Rate Discount

While there’s no Frost savings account bonus this month, you can still save money with interest rate discounts on auto loans. The bank offers auto loans for new and used vehicles at annual percentage rates as low as 3.74% as of June 8. Terms are partly based on the year, model and value of the vehicle. Frost also offers a discount of 0.25% on your car loan’s interest rate when you set up automatic payments from your Frost checking or savings account.

Earn Interest on CDs

Frost has a wide range of certificates of deposit that offer competitive interest rates — especially when compared to large national banks. You can open a Frost CD with a deposit of $1,000 or more. Deposits of less than $100,000 earn up to a 0.20% annual percentage yield as of June 4. Deposits of more than $100,000 can earn an APY of up to 0.25%. CD terms range from 14 days to 24 months.

How To Open a Frost Account

To open a Frost Bank account, you can apply online or visit a branch. You’ll need to provide personal information such as your Social Security number and photo ID, along with an initial deposit, if applicable.

Are These Frost Bank Promotions Worth the Switch?

Check back each month for updates and new promotions as they are available. Frost bank is certainly worth a second look if you live in Texas, thanks to its competitive interest rates and low fees.

If you’re looking for cash bonuses, consider checking out other bank promotions that pay free money for opening new accounts.

Information on promotions is accurate as of July 28, 2020. Additional requirements may apply. Offers and terms are subject to change.

This content is not provided by Frost Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Frost Bank.

This article has been updated with additional reporting since its original publication.

About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.