E*TRADE Premium Savings

E*TRADE Premium Savings is a promo stack for switchers: six months at 4.00% plus a $400 bonus, with Morgan Stanley Private Bank behind it. The honest verdict: strong front-loaded value and enhanced FDIC coverage, but the 4.00% is temporary and the ongoing rate is the 3.50% base printed on E*TRADE's own page. New accounts earn a promotional 4.00% APY for the first 6 months on balances up to $10,000,000, with the promo window running June 5 to September 30, 2026. E*TRADE's own comparison graphic on the Premium Savings page, fetched September 7, 2026, prints a 3.50% base rate plus a 0.50% boost to reach 4.00%. There is no minimum deposit (fund within 90 days), no minimum balance for the rate, and no monthly fee. A $400 bonus applies with $20,000 in new money using code SAVING26 through September 30, 2026. Deposits sweep across program banks for FDIC coverage up to $500,000 individual or $1,000,000 joint. Instant transfers connect to E*TRADE brokerage. The catches: the 4.00% headline expires after six months, existing accounts do not qualify, and the official ratesheet page still leaves the base APY blank in the HTML. The 3.50% figure is the one E*TRADE itself uses on the marketing comparison, not a third-party guess.