TD Bank Offers $200 Savings and $300 Checking Bonuses In 16 States

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Deal Summary: $200 bonus, TD Beyond Savings or TD Simple Savings; $300 bonus, TD Beyond Checking.

Availability: Available in CT, DC, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VA, and VT.

Now through March 31, 2021, 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 prior personal savings or money market account at TD Bank within the previous 12 months.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.05*%$250k-TD BankTD Beyond Savings w/ Standard Rate
OTHER TIERS: 0.01% Up to $20k | 0.03% $20k - $250k
0.02%--TD BankSimple Savings
Rates as of March 1, 2021.

For the TD Beyond Savings, the $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. For the TD Simple Savings, the $5 monthly maintenance fee will be waived if a $300 minimum balance is maintained or the savings account is linked to a TD Beyond Checking account. The TD Simple Savings has a few additional options to also avoid the fee.

The following is a portion of the Important Disclosure listed on 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.
  • Customers who received a bonus on a prior savings account do not qualify.
  • TD Bank employees and Canadian cross-border banking Customers are not eligible.

Thanks to DA reader, barry_NY, for his Forum post about the $200 Savings bonus.

$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 is valid now through March 31, 2021 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.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.03*%$50k-TD BankTD Beyond Checking
OTHER TIERS: 0.01% Up to $10k | 0.02% $10k - $50k
Rates as of March 1, 2021.

The Beyond Checking’s $25 monthly maintenance fee will be waived,

when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance or have a $25,000 combined balance across eligible TD accounts.

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

Add a savings account to earn $200 more.

The Disclosure listed on the Checking Bonus landing page contains information similar to that of the Savings Bonus Important 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.
  • Customers who received a bonus on a prior checking and/or savings account do not qualify.
  • TD Bank employees and Canadian cross-border banking Customers are not eligible.

One additional item in the checking bonus disclosure concerns direct deposit:

Qualifying direct deposits include your paycheck, pension, government benefits (such as Social Security), or other eligible regular monthly income from your employer or the government electronically deposited into your checking account. Person-to-person and bank transfers between your TD Bank accounts or accounts you have at other financial institutions or brokerages do not qualify.

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 done online.

TD Bank has more than 1,200 branches located on the East Coast from Maine to Florida, but as stated on the landing page, the Checking Bonus is “available only when opening through a qualifying website.” That restriction is not listed on the Savings Bonus landing page.

Bank Overview

TD Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.91% (excellent), based on September 30, 2020 data. In the past year, TD Bank has increased its total non-brokered deposits by $41.59 billion, an excellent annual growth rate of 24.69%. 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 experienced seven name changes, 29 acquisitions, and three headquarter relocations in the past 43 years. TD Bank is currently the eighth largest bank in the country, with assets in excess of $388 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 three months (must remain for 90 days) is the approximate equivalent of a 4% APY.

The Checking Bonus also doesn't require much effort, if you can handle the direct deposit.

When interest rates are low, these savings and checking bonuses are more impactful. To earn $500 in a typical online savings account (with a 0.50% APY) now requires a $100k balance for a year.

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 information above is accurate as of 2/4/2021.

Related Pages: savings accounts, checking accounts, bank bonuses

Comments
NYCDoug
  |     |   Comment #1
Worth reiterating: "Customers who received a bonus on a prior checking and/or savings account do not qualify."
Rickny
  |     |   Comment #2
Similar to CapOne on the restrictions.
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