Bank of America offers a deposit bonus to attract new customers and encourage existing ones to increase their savings. Typically, this promotion rewards individuals who open a new checking or savings account and meet specific deposit requirements within a designated timeframe. The bonus amount can vary, often ranging from $100 to $300, depending on the account type and the deposit made. To qualify, customers usually need to maintain the minimum balance for a certain period. This incentive not only enhances savings but also provides an opportunity to experience Bank of America's extensive banking services.