A Savings Deposit Bonus is an incentive offered by banks or financial institutions to encourage customers to save more money. Typically, this bonus comes in the form of a higher interest rate or a one-time cash reward for maintaining a certain balance or making regular deposits over a specified period. This promotional strategy not only helps customers grow their savings but also fosters financial discipline. By taking advantage of such bonuses, savers can maximize their returns and achieve their financial goals more effectively. Always read the terms and conditions to understand the requirements and benefits fully.