A bank deposit bonus is an incentive offered by financial institutions to attract new customers or encourage existing ones to deposit funds. Typically, this bonus comes in the form of cash or interest rate boosts, contingent upon meeting specific requirements, such as maintaining a minimum balance or making a certain number of deposits within a designated timeframe. These promotions can enhance savings potential, making it an appealing option for individuals looking to maximize their financial growth while enjoying the security of a bank account. Always read the terms and conditions to understand the eligibility criteria and any associated fees.