TD Bank $500 Checkings + Savings Bonus

TD Bank is offering a $500 bonus for opening up a checking and savings account. You can earn $300 for opening a checking account, $200 for opening a savings account, or $500 for doing both.

This is one of the best bank sign up bonuses available. We recommend you do this if you’re eligible.

Ninja Update 8/12/21: Promotion has been extended until November 30, but pay attention to who counts as a “new” customer – the eligibility language has changed with this revised offer.

TD Bank $500 Checking + Savings Bonus Overview

TD Bank is offering a new promotion where you can earn up to $500 in bank account bonuses.

There are two separate bonuses. You’ll get one bonus for opening a checking account and another bonus for opening a savings account.

The bonus amount depends on what type of account you open. Here are the options and what you can earn with each:

Checking Accounts

TD Beyond Checking ($300 Bonus)

• Earn $300 when you have $2,500 in direct deposits within 60 days

TD Convenience Checking ($150 Bonus)

• Earn $150 when you have $500 in direct deposits within 60 days

Savings Accounts

TD Beyond Savings ($200 Bonus)

• 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

TD Simple Savings ($200 Bonus)

• 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

I recommend the TD Beyond Checking account and the TD Simple Savings account as the easiest way to get the maximum $500 in bonuses.

Where do I enroll?

You can enroll directly as TD Bank:

Direct Link

Who qualifies for the TD Bank $500 bonus?

Checking offer is not available to existing TD Bank checking Customers, prior Customers who have had a TD Bank personal checking relationship within the preceding 12 months or Customers who received a bonus on a previous checking account at any time.

Savings offer is not available to existing TD Bank savings or money market Customers, prior Customers who have had a TD Bank personal savings or money market relationship within the preceding 12 months, or Customers who received a bonus on a previous savings account at any time.

Additionally, you need to reside in the following states to qualify for the bonuses:

• Connecticut (CT)
• District of Columbia (DC)
• Delaware (DE)
• Florida (FL)
• Maine (ME)
• Maryland (MD)
• Massachusetts (MA)
• North Caroline (NC)
• New Hampshire (NH)
• New Jersey (NJ)
• New York (NY)
• Pennsylvania (PA)
• Rhode Island (RI)
• South Caroline (SC)
• Vermont (VT)
• Virginia (VA)

What are the details?

Availability: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Expiration: 9/18/2020 11/30/21
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes – either $500 or $2,500 depending on what checking account bonus you select (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: Must keep the account open for 6 months or you will forfeit the bonus

Avoiding Fees

The checking accounts have a monthly fee between $15 to $25 and the savings accounts have a monthly fee between $5 to $15; they can all be waived if you do ONE of the following:

Checking Accounts

TD Beyond Checking ($25 Monthly Fee)

• Set up monthly direct deposits of $5,000 or more OR
• Maintain a $2,500 minimum daily balance OR
• Have a $25,000 combined balance across eligible TD accounts

TD Convenience Checking ($15 Monthly Fee)

• Maintain a $100 minimum daily balance OR
• Be a student or young adult between the ages of 17 through 23

Savings Accounts

TD Beyond Savings ($15 Monthly Fee)

• Keep a $20,000 minimum daily balance or pay a $15 monthly maintenance fee OR
• Link your savings account to a TD Beyond Checking account

TD Simple Savings ($5 Monthly Fee)

• Keep a $300 minimum daily balance or pay a $5 monthly maintenance fee OR
• Link your savings account to a TD Beyond Checking account OR
• Link your savings account to a TD Convenience Checking account and you’re under 24 OR
• Make recurring $25+ transfers from your linked TD Bank checking account OR
• You’re under 18 or older than 62

Terms & Conditions

• Offer valid June 1, 2021 through August 17, 2021.
• Checking offer is not available to existing TD Bank Customers, prior Customers who have had a TD Bank Personal checking relationship within the preceding 12 months, or Customers who received a bonus on a previous checking account at any time.
  • To qualify for the $300 personal checking cash bonus, new personal Customers must open a TD Beyond Checking account and receive cumulative qualifying direct deposit funds totaling $2,500 or more into the new account within 60 calendar days of the account opening date.
  • To qualify for the $150 personal checking cash bonus, new personal checking Customers must open a TD Convenience Checking account and receive cumulative qualifying direct deposit funds totaling $500 or more into the new account within 60 calendar days of the account opening date. 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 of at least $250. Person-to-person and bank transfers between your TD Bank accounts or accounts you have at other financial institutions or brokerages do not qualify.
• Savings offer is not available to existing TD Bank savings or money market Customers, prior Customers who have had a TD Bank personal savings or money market relationship within the preceding 12 months, or Customers who received a bonus on a previous savings account at any time.
  • To qualify for the $200 personal savings bonus, new personal savings Customers must open a TD Beyond Savings or TD Simple Savings account (CDs, IRAs and Money Market accounts are excluded) and deposit $20,000 or more in new money within 20 calendar days of account opening and maintain a minimum daily balance of $20,000 for at least 90 days from the date the deposit requirement is met. New money is defined as funds that are not currently held in any TD Bank retail deposit account. Broker, municipal, commercial and small business deposits are not included.
• 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.

The Bottom Line

TD Bank bounces back and forth between whether or not they want people who received account opening bonuses in the past to receive the bonuses. For this round, it’s a no, but they’ve been known to flip flop on every new offer.

If you’re eligible, $500 is a pretty sweet bonus and matches the highest offer they’ve had. I’ll include this in my list of the best bank bonuses.