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 qualifying deposit within a set timeframe. These promotions can enhance savings potential, making it an appealing option for individuals looking to maximize their financial growth. However, it's essential to read the terms and conditions carefully to understand any associated fees or restrictions.