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The best savings account bonus offers and promotions

These savings account promotions reward you with one-time bonuses and great interest rates just for signing up.

This article was reviewed by Marguerita Cheng, a member of the Finder Editorial Review Board and award-winning advocate for ethical financial planning for over 20 years.

Savings account bonus offers are geared toward savers looking to open a new account. While signup bonuses offer a nice financial boost, they are short-term offers. If you get too caught up on the deal, you may forget to think about the fine print and the account as a whole.

We review over 120 savings accounts at the beginning of each month and select those with the highest promotional value, regardless of minimum deposits. We include checking accounts only if there are attached savings account requirements, and we omit bonuses that are only available to a few states.

What’s changed in 2021?
We updated the expiration dates for Citi Priority Account, Citibank Account Package and Suze Orman Ultimate Opportunity Savings after they renewed their offer.

We updated this article to include the latest details and expiration dates. We also added new offers from TD and Axos.

7 best savings bonus offers

Here’s a snapshot of the four best savings account bonus offers:

AccountBonus totalMinimum depositExpirationMore info
Citi Priority Account$700 bonus$50,000June 30, 2021Learn more
Citibank® Account Package$300 bonus$15,000June 30, 2021Learn more
Axos Bank High Yield Savings$100 bonus$250May 31, 2021Learn more
Bask Bank Savings1,000 AAdvantage bonus miles$5,000June 30, 2021Learn more
TD Bank Simple Savings$200 bonus$20,000 within 2days August 3, 2021Learn more
Suze Orman Ultimate Opportunity Savings$100 bonus$0December 31, 2021Learn more
TD Beyond Savings Account$200 bonus$20,000 within 20 daysAugust 3, 2021Learn more

Closer look at the best savings accounts bonus offers

Take a closer look at the best savings account promotions by reviewing the fine print of each one:

Citi Priority Account: $700 bonus

  • Bonus amount: $700
  • Minimum deposit required: $50,000
  • Interest rate: 0.04% to 0.5%, depending on your location
  • Offer rules: Open new, qualifying savings and checking accounts as part of the Citi Priority Account Package. Within 30 days, deposit at least $50,000 into your combined accounts and keep the amount for 60 consecutive calendar days.
  • Eligibility: Available only to new Citibank customers.
  • Expiration: Bonus available until June 30, 2021.

Citibank® Account Package: $300 bonus

  • Bonus amount: $300
  • Minimum deposit required: $15,000
  • Interest rate: 0.04% to 0.5%, depending on your location
  • Offer rules: Open new, qualifying savings and checking accounts as part of the Citibank Account Package. Within 30 days, deposit at least $15,000 into your combined accounts and keep the amount for 60 consecutive calendar days.
  • Eligibility: Available only to new Citibank customers.
  • Expiration: Bonus available until June 30, 2021.

Axos Bank High Yield Savings: $100 bonus

  • Bonus amount: $100
  • Minimum deposit required: $250
  • Interest rate: 0.61% APY
  • Offer rules: Get a $100 bonus when you open an Axos Bank High Yield Savings account and Essential Checking account. Must use promo code GET100.
  • Eligibility: Must open a new Essential Checking account at the same time as the Axos Bank High Yield Savings account and have a Direct Deposit totaling $1,000 or more within the first 60 days of opening your Essential Checking account. Accounts must remain open for 180 days.
  • Expiration: Bonus available until May 31, 2021

Bask Bank Savings: 1,000 AAdvantage bonus miles

  • Bonus amount: 1,000 AAdvantage miles
  • Minimum deposit required: $5,000
  • Interest rate: Earn 1 AAdvantage mile for every $1 saved
  • Offer rules: Open a new Bask Bank Savings account before June 30, 2021. Within 30 days, deposit at least $5,000 into the account and maintain that balance for at least 90 days. The bonus miles will be awarded within 10 days of meeting requirements and may take six to eight weeks to post to your AAdvantage account.
  • Eligibility: Available to new Bask Bank customers only.
  • Expiration: Bonus available until June 30, 2021.

TD Bank Simple Savings: $200 bonus

  • Bonus amount: $200
  • Minimum deposit required: $20,000 within 2days
  • Interest rate: 0.01% to 0.15%, depending on account balance and linked TD accounts
  • Offer rules: Earn $200 when you deposit $20,000 or more in new funds within 20 days and maintain a balance of at least $20,000 for 90 days.
  • Eligibility: Must be a new TD customer
  • Expiration: Bonus available until August 3, 2021

Alliant Credit Union logo

Suze Orman Ultimate Opportunity Savings Account: $100 bonus

  • Bonus amount: $100
  • Minimum deposit required: $0
  • Interest rate: 0.55%
  • Offer rules: Open an Alliant savings account by March 31, 2021, and receive a $100 bonus when you transfer at least $100 a month into the account for 12 consecutive months. Account must have a $100 daily minimum balance and a $1,200 minimum balance after 12 months to qualify.
  • Eligibility: Available to new Alliant Credit Union members only.
  • Expiration: Bonus available until December 31, 2021.

TD logo logo

TD Beyond Savings Account: $200 bonus

  • Bonus amount: $200
  • Minimum deposit required: $20,000 within 20 days
  • Interest rate: 0.01% to 0.15%, depending on account balance and linked TD accounts
  • Offer rules: Earn $200 when you deposit $20,000 or more in new funds within 20 days and maintain a balance of at least $20,000 for 90 days. Earn TD’s best APYs when you link an eligible TD account.
  • Eligibility: Must be a new TD customer.
  • Expiration: Bonus available until August 3, 2021

How to choose the best savings account bonus

When combing through savings account promotions, dig beyond the surface and look at the actual account details. Because once the introductory offer expires, you don’t want to be stuck with an account you don’t like. Here are some factors to consider:

  • Bonus requirements. The best savings account bonuses typically have deposit requirements of at least $10,000. You may also need to keep your money in your account for a certain period of time or set up qualifying direct deposits totaling $500 or more. Make sure you can easily meet these requirements before you open an account.
  • High introductory rate. Look for an account with a high introductory interest rate that lasts for a longer period of time.
  • Low minimum opening balance. Check to see how much money you need to open the account — and if there’s a minimum ongoing balance that needs to be maintained or a direct deposit required. If you’re just starting out as a new saver, you probably don’t want a high minimum.
  • Little or no fees. Some banks have a monthly fee or will charge you if your account balance dips too low. Look for a fee-free account, especially if you can’t keep a high minimum balance.
  • High regular rate. After the introductory period is over, your account will drop down to the bank’s regular rate. Don’t get so caught up in flashy offers for new accounts that you choose one with a rock-bottom regular rate.

How do savings account bonus offers work?

Banks attract new customers by offering signup bonuses for checking and savings accounts when you open them online and meet qualifying activities, such as setting up direct deposit or transferring a minimum amount of money into the account by a certain date. The promotion is deposited into your account typically within 90 days.

What are the pros and cons of a savings account signup bonus?

Weigh these benefits and drawbacks before opening an account with a promotion or offer:

Pros

  • Motivation to save. Receiving a signup bonus could be the motivation you’ve always needed to finally start saving.
  • Could get more interest. The boost in interest offered as an introductory rate is a good incentive to put as much as you can into a savings account in the first few months.

Cons

  • Limited time only. After the introductory period, you’ll lose your bonus or the account will revert to a lower, standard variable rate.
  • You don’t usually get signup bonuses right away. Many banks require you to have your account open for a specified period of time before they give you your signup bonus. This prevents people from opening several accounts in one day just for the cash and then closing them the next day.

Are savings account bonuses worth it?

Whether a savings account bonus is worth it depends on the underlying account and the qualifying activities you need to meet to secure the bonus.

For example, if the savings account has low fees, a competitive interest rate and is an account you’d want to open even if a bonus wasn’t included, then it’s likely the right account for you. But if it has strict requirements, a low APY or high monthly fees, you may want to keep looking.

Which banks typically have a savings sign up bonus?

Savings sign up bonuses are typically offered by traditional banks like Chase, Citibank, HSBC, Bank of America and TD Bank.

What is an introductory rate?

An introductory interest rate is a higher interest rate offered on a savings account that’s only available for a couple of months. It’s a good practice to regularly compare your savings account options to ensure you’re always getting the highest rate.

always get highest rate

What’s a loyalty bonus?

A loyalty bonus is any sort of extra perk that a financial institution offers customers who have several different account types, large balances or a long history with the bank. They can apply to savings accounts, checking accounts, CDs, credit cards and even loans. Bundling together multiple financial products and linking your accounts at the same bank is one of the most common ways to score a bonus.

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Bottom line

An introductory offer can be the motivational boost you need to start saving. When you’re ready to open an account, take advantage of any bonuses available — but make sure it’s an account that you’ll still want when the intro period ends.

Compare even more savings accounts with signup bonuses

Use this table to compare savings accounts with sign-up offers and promotions.

Name Product Fee Minimum deposit to open Rewards Intro or bonus offer Annual percentage yield (APY)
Aspiration Spend & Save Account
$0 per month or $15 per month for Aspiration Plus ($12.50 per month if you pay annually)
$10
Unlimited cash back rewards on debit card transactions, plus extra cash back at businesses with high AIM scores
New customers get a $100 bonus when they open an account and spend $1,000 in the first 60 days
1.00% on balances of $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Citibank® Account Package
$25 per month
(can be waived)
$0
Open new eligible checking and savings accounts, deposit $15,000 of new funds between the two accounts and maintain the balance for 60 consecutive days.
0.50%
Earn a $300 bonus after opening new eligible checking and savings accounts and completing required activities.
Digit
$5 per month
(can be waived)
$0
0.10% on balances of $0+ When you save for three consecutive months, your account is rewarded with a 0.10% annualized savings bonus.
Digit analyzes your spending and automatically saves an appropriate amount every day so you don't have to think about it.
CIT Savings Connect
$0
$100
Savings Connect and eChecking account will earn an interest rate of 0.49% for the first month, but only if you open both accounts at the same time as a bundle.
0.50% on balances of + If you deposit $200+ monthly into your eChecking account, otherwise 0.42%
CIT Savings Connect combines aspects of a checking and savings account in one product.
SoFi Money
$0
$0
Get $100 when you switch your direct deposit to SoFi Money
0.25%
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
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Compare up to 4 providers

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