[MA, NH, ME, RI] Eastern Bank $300/$450 Checking Bonus

Offer at a glance

• Maximum bonus amount: $300/$450
• Availability: MA, NH, ME, RI
• Direct deposit required: Yes, $4,000+
• Additional requirements: See below
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes, sensitive
• Credit card funding: No longer available
• Monthly fees: None
• Early account termination fee: None, bonus will post by January 28, 2020
• Household limit: One
• Expiration date: June 23, 2025

The Offer

Direct link to offer

• Eastern bank is offering a $300 or $450 checking bonus when you open a new checking account and have a cumulative direct deposit of $4,000+.
  • $450 when you open a new Eastern Premier Checking
  • $300 when you open an Eastern Free Checking

The Fine Print

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

Avoiding Fees

Monthly Fees

Eastern free checking has no monthly fees to worry about. Eastern Premier Checking requires a $25,000 deposit to keep fee free.

Early Account Termination Fee

There is no early account termination fee

Our Verdict

Previous bonus was for $200/$350. For a lot of people that is actually a better bonus as you got $350 instead of $300 and the new $450 bonus requires $25,000 in funds to keep fee free. If you put those funds into an account earning 5% APY you’d be earning $100 per month anyway.

Hat tip to Gojo

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