[Expired] [CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL] Citizens Bank $500 Savings Account Bonus With $30,000 Deposit

Update 8/15/26: New link, $500 tier has gotten worse again.

• $250 for $10k deposit
• $500 for $40k deposit

Update 5/12/26: New link, but tiers are worse at:

• $250 for $10k deposit
• $500 for $30k deposit

Valid until 5/23/26. Hat tip to reader churn_and_burn

Update 4/14/25: New link, valid until 4/26/25.

Update: This seems to be a public offer for anyone in the geographical region who has a Citizens Bank checking account and savings account. This works for existing checking/savings accountholders, as well as someone who opens a new checking and/or savings account. We’ve now added the direct link below. Offer code is RSAV-635-DF.

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: $10,000
• 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: Valid April 17 – April 30, 2024

The Offer

Direct Link to offer to open checking+savings | Link for existing checking customers to open savings | Link for existing checking+savings customers to make a deposit

Multiple people are reporting of the following offer from Citizens Bank:

• Citizens Bank is offering a $500 bonus when you open a new savings account and deposit $10,000 for 5 months or $250 if you deposit $5,000 for 5 months.

The Fine Print

• ¹ To Earn Bonus: You must, 1) have an existing personal checking account or open your first new personal checking account between 4/17/24 and 4/30/24 and, 2) have an existing personal savings account or open your first new personal savings account between 4/17/24 and 4/30/24 and have the required minimum total deposit (with money not currently on deposit with Citizens) post to one savings account between 4/17/24 and 4/30/24.

• For account holders with more than one savings account, the minimum total deposit amount must be made into a single savings account and funds must then remain on deposit until September 30, 2024. Deposits between $5,000-$9,999.99 will receive a $250 bonus or deposits of $10,000 or more will receive a $500 bonus.

• Qualifications: Your new or existing accounts 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. Savings account must maintain the required balance until September 30, 2024. Money market accounts, CDs, and Citizens Access accounts are excluded.

• Eligibility: Customer will be paid only one, one-time bonus for this program. Only one savings account is eligible for a bonus. Offers may be withdrawn without notice. Offer eligibility is determined at Citizens’ sole discretion.

• Payout: Bonus will be deposited to the checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus”. If your checking account is closed prior to payout date stated in the table below, then your 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

This account has no monthly fee as long as you have a Quest checking account.

For One Deposit savings account, you can maintain a $200 minimum daily balance to waive the monthly maintenance fee. No monthly maintenance fee while you’re under 25 or over 65. Account will automatically receive a waiver on the first 4 monthly maintenance fees.

Early Account Termination Fee

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

Our Verdict

We just saw the public $300 offer expire. This offer is bonus is better, though remember the downside in the lack of interest earning and the 5 month lockup. Still a 5% earn in just 5 months is a solid return (it equals around 12% APY) and well worth considering.

I have a Citizens Bank checking and tried to open a savings account with the online link, but am having trouble adding the savings account. I’m a bit confused how to enroll in this offer – perhaps any customer who adds $5,000/$10,000 to their savings account will get the bonus, without the need to signup for the offer in any way. Let us know if you get this to work.

Hat tip to Mark from ToP and to reader Sylvester The Lone

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times