Thought this was junk mail, but am intrigued by their 360 Money Market, says if a new customer deposits $50K and maintain a $50K balance for 90 days, they will then provide a $500 bonus (assuming no default, closed, suspended, within 60 days following the initial 90 days. Says the account has a 2% APY, so assuming they take the full 60 days to put the $500 in as the bonus, is this essentially the same as a 5 month "CD type as you can't touch it until 5 months has passed" that would yield 2% APY + $500.
Local banks are offering 2% money markets, but no $500 balance. Says they are FDIC insured. Assuming one is looking for a place to park $50K and will absolutely not need to touch it, this seems like a good home? (Not looking for a put it all in VTSAX discussion, this is specifically for parked money for this time frame).
Are there better alternatives? Does this seem like a good choice?