Bask Bank is offering 4,000, 10,000 or 20,000 American Airlines AAdvantage® bonus miles to new and existing Bask Mileage Savings Account customers who make new deposits of at least $10,000, $25,000 or $50,000 between June 1, 2023, and August 31, 2023, and maintain the new deposit balance for 180 consecutive calendar days. Bonus miles awarded will correspond to the award tiers outlined in the terms of this offer.
AAdvantage® miles awarded by Bask Bank for maintaining a deposit balance are viewed as interest income. This income will be reportable to the IRS and to you for the year in which the miles were posted to your AAdvantage® account. Bask Bank calculates an interest equivalent based on a good faith estimate of the value of the miles. Your interest rate and annual percentage yield may change based on a change in either the miles award rate or the estimated value. For tax purposes, miles are considered to have a value of 0.42 cents. At our current rate of 2.5 miles per dollar saved annually, this represents a taxable APY of 1.05%.
