TD Bank Extends $200 Savings and $300 Checking Bonuses Again

Now through October 31, 2022, TD Bank is offering a $200 bonus when opening a new TD Beyond Savings or TD Simple Savings account, depositing at least $20k of new money (not currently held in a TD Bank retail deposit account) within 20 calendar days of account opening, and maintaining a minimum daily balance of $20k for at least 90 days.

The $200 savings bonus is available only to individuals who do not have an existing or a previously opened TD Bank personal savings or money market account within the previous 12 months. Individuals who have received a bonus on a previous savings account at any time are not eligible.

The TD Beyond Savings $15 monthly maintenance fee will be waived if a $20k minimum balance is maintained or the savings account is linked to a TD Beyond Checking account.

The TD Simple Savings $5 monthly maintenance fee will be waived if 1) a $300 minimum daily balance is maintained or, 2) the savings account is linked to a TD Beyond Checking account or, 3) the savings account is linked to a TD Convenience Checking account and the account owner is under 24 or, 4) recurring $25+ transfers are made from a linked TD Checking account or, 5) if the account owner is younger than 18 or older than 62

The following is a portion of the Disclosure listed at the bottom of the landing page.

Once the offer criterion is met, the bonus will be credited to the new personal savings account no later than 140 days from the account opening date.

Account must remain open, active, in good standing and in the same product type through the qualifying period to receive the bonus.

If the savings account is closed by the Customer or TD Bank within 6 months after account opening, TD Bank does reserve the right to deduct the bonus amount from that account at closing.

One savings bonus per account per Customer and cannot be combined with any other offer.

TD Bank employees and Canadian cross-border banking Customers are not eligible.

$300 Checking Bonus

TD Bank is also offering a $300 bonus when opening a new TD Beyond Checking account and having at least $2.5k in direct deposit(s) within 60 days of account opening. This offer has been extended through October 31, 2022 and is available to individuals who do not have an existing or a prior personal checking account at TD Bank within the previous 12 months. Individuals who have received a bonus on a previous checking account at any time are not eligible.

The Beyond Checking’s $25 monthly maintenance fee will be waived with one of the following:

$5,000 or more in direct deposits within a statement cycle or $2,500 minimum daily balance is maintained or $25,000 minimum daily combined balance of all deposit accounts, all outstanding home equity loan and home equity line of credit accounts, and/or mortgages in good standing (excludes credit cards and personal loans) that you choose to link.

As stated on the Checking Bonus landing page, the $300 bonus can be combined the $200 savings bonus.

Add a savings account to earn $200 more.

The Disclosure listed on the landing page contains information about the Checking Bonus that is similar to that of the Savings Bonus Disclosure.

Once the offer criterion is met, the bonus will be credited to the new personal checking and/or personal savings account no later than 140 days from account opening.

Account(s) must remain open, active, in good standing and in the same product type through the qualifying period to receive the bonus.

If either checking or savings account is closed by the Customer or TD Bank within 6 months after account opening, TD Bank does reserve the right to deduct the bonus amount from that account at closing.

TD Bank employees and Canadian cross-border banking Customers are not eligible.

Availability

Headquartered in Wilmington, Delaware, TD Bank’s market area includes Connecticut, Delaware, District of Columbia, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Virginia, and Vermont.

Applying for a savings bonus or a checking bonus can only done online. TD Bank has more than 1,100 branches located on the East Coast from Maine to Florida, but the fine print on the Checking/Savings Bonus landing page states, “available only when opening through a qualifying website.”

It took me a moment to figure out how to access the online application: there is no “Apply Now” or “Open An Account” button to click on. Instead, “Select this account” is listed below each savings/checking account. Clicking on the box next to “Select this account” brings up the “Open Account” link.

Bank Overview

TD Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.08% (excellent), based on December 31, 2021 data. In the past year, TD Bank has increased its total non-brokered deposits by $150.85 billion, an excellent annual growth rate of 69.38%. Please refer to our financial overview of TD Bank (FDIC Certificate # 18409) for more details.

Founded in 1852 as the Penobscot Savings Bank (Bangor, Maine), TD Bank has experience seven name changes, 29 acquisitions, and three headquarter relocations in the past 44 years. TD Bank is currently the ninth largest bank in the country, with assets in excess of $423 billion and more than 21 million customer accounts.

Bottom Line

The $200 Savings Bonus doesn’t require much effort. Earning $200 on a $20k deposit in six months (account must remain open for six months) is the approximate equivalent of a 2.09% APY.

The numbers for the Checking Bonus are actually more impressive: a minimum $2.5k earning $300 in six months (account must remain open for six months) is the approximate equivalent of a 25% APY.

Combined, the Savings and Checking Bonuses have an approximate equivalent of a 4.5% APY.

If you don’t qualify for the TD Bank bonuses, check out our full list of the best savings and checking account bonus offers.

The above information and rates are accurate as of 5/9/2022.