[Expired] [CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL] Citizens Bank $500 Savings Account Bonus With $10,000 Deposit

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:
    Chuck
  • On April 15, 2025, 11:00
Tags: bank bonuscitizen's bank

View Comments (331)

  • This bank bonus is still listed under July's best bank bonus offers, but it seems to be dead

  • How long does it typically take for the promo tracker to update? Says 72 hours but had 2nd DD of $501 hit Wednesday, but still isn't checked off for promo?

    • If you have a new updated non-targeted link, provide it, and they will update the post.

      • I think his question was why it's showing in the index of best account bonuses when offer is already expired.

  • Got an email from Citizens
    Open a savings account and deposit $200 in July, August, and September each month for a $200 bonus by Oct 31 2025.

    May be targeted to current checking owners? I don't see it on the site. My email URL has this embedded though: promocode=VST25C2SAVOD

    To earn a $200 bonus, open your first new One Deposit Savings from Citizens® or any personal savings account between 6/1/25 and 6/30/25 and make at least one single deposit of $200 or multiple deposits totaling $200 or more post into the new savings account every month for three consecutive months, starting the month after the account is opened, as stated in the table below. A total of $600 must be on deposit in the new savings account as of the date stated in the table below. You must also have an existing personal checking account or open a new personal checking account between 6/1/25 and 6/30/25. Qualifications: Primary signer on the new savings account may not be or have been a signer on any Citizens personal savings account within the previous six months. Your new savings account must have a balance of $600 and your new or existing checking account must have a balance greater than zero and both must remain open and active through the payout date stated in the table below to qualify for this offer. Any account that remains at a zero balance may be closed if it is not funded. Eligibility: This offer is only available to the individual addressed on this email. Retain this email for your records. Customer will only be paid a one-time bonus for this program. Only one savings account is eligible for a bonus. Offers may be withdrawn without notice and cannot be combined with any other savings offer. 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 new savings account will also no longer be eligible for this offer. Bonus will be reported to the IRS for income tax purposes. We have multiple savings options, for example if you open One Deposit Savings: Just one deposit of any amount each monthly maintenance fee period OR a $200 minimum balance waives the $4.99 monthly maintenance fee on a One Deposit Savings account. Variable-rate Annual Percentage Yield (APY) for Citizens One Deposit Savings varies by tier. For example, as of 5/9/25, APY by tier for One Deposit Savings is: 0.01% for tiers below $1,000, $1,000+, $2,500+, $10,000+, $25,000+, $50,000+, $75,000+, $250,000+ and $1,000,000+. Fees may reduce earnings. Rates subject to change before or after account opening.

  • Is it safe to close the checking and savings account now? I received my bonus on the 23rd.

    • Once you get the bonus you can close at any time. Whether or not any internal flags are triggered by doing so before X amount of time (which may impact future signup approvals) is anyone's guess. I have never had a problem with Citizens though and I tend to close them pretty quickly after.

      • Is there any way to tell if an account is closed? I closed the savings account and when I view it in my online account, I can't verify that it's closed.

  • If i do the 25k does it have to be all in one transaction or can it be multiple deposits like 10k and 15k

      • As of today, yes... Not when they asked.

        "3) have one single deposit of at least $10,000/$25,000 or more in new money post into one personal Citizens savings account by 4/30/25"

  • 11/19/24 - Opened in branch, which was super easy since I have a checking acct here which is my "real" everyday checking account
    12/4/24 - $20,001 push from Fidelity CMA
    3/6/25 - $20,001 pull from Fidelity CMA
    4/23/25 - $500 bonus posted into checking

    Easy $500, but no interest for 90 days stinks. Lately I've seen, done, or plan to do savings bonuses that actually accrue real interest: Live Oak, Citi, Santander, Wells Fargo(although it looks like this will be a battle with them as recent stacks with the 4% great rate promo are not posting now with a case needing to be opened)

  • 11/26/24 One Deposit Savings Account Opened
    12/4/24 >$20k Deposit
    3/6/25 Transferred Out >$20k. Left Small Balance In Account
    4/23/25 "Balbldr Bonus" $500 Deposit Into One Deposit Checking Account

  • I see today got paid $250 but I did deposit $20k and with draw existing $1999 from savings and maintained $20k for the period till March 6th not sure why I got paid less and early on 4/24 instead of 4/30 as offer said. Anyone faced this kind of issue will they add another $250 if contacted them?

    • 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.

  • I did this same offer pretty much back in the beginning of 2024 and it paid out find. I did it again in November 2024 but the payout time is end of April so still waiting if it worked again because the terms are vague saying this offer is once per customer but are all of these offers the same or are they unique?

    I will start this one all in the same savings account and if I don't get paid for the 2nd offer due April 30th, I will yank my money out of here. I figure it's worth a shot but would be curious if anyone else is in the same boat.

    • Yep -- I'm waiting for my payout by 4/30 and planned to do the same thing you're doing.
      I had a terrible time getting Citizens to pay out the original bonus when I opened my account last year, so I'm not super optimistic this one will go smoothly, but just waiting to see what happens next week.

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