[New & Existing, CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL] Citizens Bank $250-$500 Savings Bonus ($10,000-$20,000 Deposit Required)

Offer at a glance

Maximum bonus amount: $500

Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL

Deposit required: $20,000

APY: 0.07% APY

Hard/soft pull: Soft pull as long as you opt out of overdraft protection.

ChexSystems: Mixed data points

Credit card funding: None

Monthly fees: Avoidable

Early account termination fee: None

Household limit: None

Expiration date: 11/27/24

The Offer

Direct link to offer

Citizens Bank is offering a savings bonus of $250-$500.

Get $250 when you make one single deposit of at least $10,000 in new money to your personal Citizens Savings account and maintain the savings balance through March 5.Must have an existing or open a new personal Citizens Checking account to qualify

Get $500 when you make one single deposit of $20,000 or more in new money to your personal Citizens Savings account and maintain the savings balance through March 5.Must have an existing or open a new personal Citizens Checking account to qualify.

The Fine Print

To Earn Bonus: You must, 1) have an existing or open a new personal Citizens Checking account between 11/12/24 and 11/27/24 and, 2) have an existing or open a new personal Citizens Savings account between 11/12/24 and 11/27/24 and, 3) have one single deposit of at least $10,000/$20,000 or more in new money post into one personal Citizens Savings account by 12/6/24 and, 4) your savings balance as of the end of the day prior to the qualifying single deposit plus qualifying single deposit ($10,000/$20,000) must be maintained through 3/5/25.

The qualifying deposit of $10,000.00-$19,999.99 is eligible for a $250 bonus, or qualifying deposit of $20,000.00 or more is eligible for a $500 bonus.If the qualifying deposit at the end of the retention period drops into the lower tier, you will be eligible for the lower bonus.

Qualifications: New money is external funds that are not currently on deposit with Citizens or Citizens Access.The participating personal Citizens Savings account must remain open and active AND the participating personal Citizens Checking account must have a balance greater than zero and remain open and active through the payout date stated in the table below to qualify for this offer.

Eligibility: Only one personal Citizens Savings account is eligible for a bonus and only one customer on the savings account is eligible for a bonus.Customer will only be paid a one-time bonus for this program.

Offers may be withdrawn without notice.Offer eligibility is determined at Citizens’ sole discretion.

Payout: Bonus will be deposited to your personal Citizens Checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus”.If your personal Citizens Checking account is closed prior to payout date stated in the table below, then your personal Citizens Savings account will also no longer be eligible for this offer.Bonus will be reported to the IRS for income tax purposes.

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

One Deposit Savings from Citizens® has a $4.99 fee this is waived with any deposit.

Early Account Termination Fee

As far as we know there is no early account termination fee.

Our Verdict

Nice that this works for existing customers as well.

Both deals work out to be 10% APY annualized if we assume a three month hold period (will be slightly longer than this, so not as good).Worth doing if you need to tie up some money for awhile.Will add to the best savings bonuses.

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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.