Citizens Bank Bonuses, Promotions and Offers: October 2024
Written by
Chris Ozarowski
Edited by
Melanie Grafil
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Like many banks, Citizens Bank is willing to reward new customers for opening an account. With more than 1,000 locations throughout New England, the mid-Atlantic and parts of the Midwest, this bank is currently running promotions that will appeal to customers in need of a new account and some bonus money. The bonus offers that made the list were chosen based on their high cash values and how easy the rewards are to earn.
Keep reading to learn about the best Citizens Bank bonuses and promotions for October 2024.
Citizens Checking Account and Savings Account: Up To $400 Bonus
Get $300 when you open a Citizens checking account and make a direct deposit of $500 or more within 60 days of account opening. You have four checking account options to choose from: Student Checking, One Deposit Checking, Citizens Quest Checking and Citizens Private Client Checking. If you choose to open a savings account as well, you stand to earn a bonus of $100, bringing the total bonus on the table to $400. In order to get the additional $100, you’ll need to make deposits totaling at least $100 into the new savings account every month for three consecutive months.
- Cash value: Up to $400
- Minimum deposit to qualify: $500
- How to get it: Open a new checking account via the offer page and make a $500 direct deposit within 60 days of opening to receive $300. Next, open a savings account and make deposits totaling at least $100 each month for three months to receive a $100 bonus.
- Terms and conditions: You must not have held a Citizens checking or savings account in the past six months, and your account must be open and in good standing on the payout date.
- Monthly fees: You can choose from several of Citizens’ personal checking accounts (as long as you open the account via the offer page), so the fees vary depending on the account. Fees range from $0 for Student Checking to $9.99 for One Deposit Checking and up to $25 for Citizens Quest Checking, but there are ways to waive the monthly fee by maintaining balance minimums or making qualifying deposits.
- Promotion page: Checking and savings account bonus
Your Home Rewards From Citizens Bank: Up To $9,500 Bonus
This promotional bonus is for customers who sign up for and use the bank’s homebuying program. Depending on where you live, you can earn a substantial bonus if you’re ready to sell or buy a home.
To qualify, you’ll need to sign up with Your Home Rewards from Citizens Bank. The amount of your bonus is based on the sales price of the home. No Citizens Bank coupon code is required to redeem the bonus.
- Cash value: Up to $9,500
- Availability: The offer is not available in Alaska, Iowa, Louisiana or Missouri. Some homebuyers in Mississippi, New Jersey, Oklahoma and Oregon may not qualify for a reward but might receive a reduced agent commission instead.
- Minimum home sale value: $0
- Expiration date: None
- How to get it: Sign up for Your Home Rewards from Citizens Bank and get matched with a real estate agent. Next, purchase or sell your home with the real estate agent’s assistance.
- When you’ll get it: Within 45 days of closing
- Terms and conditions: The reward is valid for 18 months after enrolling in Your Home Rewards. The reward might be limited in certain states.
- Monthly fees: N/A
- Promotion page: Your Home Rewards bonus
Citizens Bank 0.125% Home Loan Rate Discount
Citizens Bank is also currently offering a 0.125% rate discount on home loans if you set up paperless statements and automatic mortgage payments from your checking account.
- How to get it: In Connecticut, Delaware, Florida, Massachusetts, Maryland, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Virginia, Vermont and Washington, D.C., you must set up a Citizens consumer checking account with automatic monthly payment deductions and e-statement enrollment. In all other states, you must set up automatic monthly mortgage payment deductions from a consumer checking account.
- Terms and conditions: One discount is available per property. The offer is not applicable for bond or Community Reinvestment Act loan programs.
- Promotion page: Citizens Bank home loans
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Opening a Citizens Bank Account
Opening an account with Citizens Bank is simple. You can visit a local branch or follow these steps to apply online:
- Visit the new account page.
- Enter your Social Security number.
- Provide your driver’s license or state ID information.
- Enter your contact information.
- Fund your account with a debit card or use your routing number and bank account number to transfer money.
Are Citizens Bank Promotions Worth a Second Look?
Bank promotions are a nice perk, but they’re often just a one-time bonus. Before choosing to open an account, whether it’s a savings, checking or CD account at any bank, you should determine if its products and services are the right fit for your financial needs.
Citizens Bank has a variety of bank account options, most of which are low-cost or fee-free if you follow the minimum balance or deposit requirements. If you live in the service area, it might even be worth your while to check out all of the bank’s product offerings — regardless of the bonus.
Final Take
As you explore your options, Citizens Bank presents an opportunity to lock in a bonus while settling into a new bank account. But if you aren’t sure that Citizens is a good fit and you want to consider other banks, check out some of the best bank bonuses and promotions to help you find the right financial institution for your situation.
FAQ
- How do I get my bonus from Citizens Bank?
- Checking and savings account bonuses from Citizens Bank will be deposited directly into the checking account you opened to get the bonus. Currently, Citizens Bank is offering its $400 account opening bonus to eligible customers.
- Does Citizens Bank pay interest?
- Citizens Bank offers customers interest on funds deposited in its savings accounts. However, these rates may be relatively low compared to offers from competitors. The current annual percentage yields are 0.01% for One Deposit Savings customers and 0.05% for Citizens Quest Savings customers.
- What types of bonuses does Citizens Bank offer?
- Citizens Bank offers bonuses for new customers who open checking and savings accounts. Additionally, the bank offers a rate discount for customers who choose to obtain home financing with Citizens.
- Are there any special offers for new Citizens Bank customers?
- Yes, new Citizens Bank customers can earn a bonus of up to $400 when they open both a checking and savings account. Beyond opening the accounts, new customers must meet specific requirements to secure the bonus.
- Can existing customers take advantage of Citizens Bank's bonuses?
- Current customers who choose to finance a home purchase through the bank can tap into a worthwhile rate discount. However, if you are an existing customer with a Citizens checking or savings account, you cannot score a bonus for opening a new checking or savings account.
- What are the steps to redeem a Citizens Bank promotion?
- If you want to snag a Citizens Bank bonus for opening a checking and savings account, start by opening the accounts from the promotional page. When the checking account is open, set up a direct deposit of at least $500. When the funds are received within 60 days of account opening, you'll earn a $300 bonus. For the savings account, you must make deposits totaling at least $100 for three consecutive months after the account opening to receive the $100 bonus.
Sarah Sharkey, Cynthia Bowman and Julia Gordon contributed to the reporting for this article.
Information on promotions is accurate as of Oct. 11 2024. Additional requirements may apply. Offers and terms are subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
