Best Bank Bonuses of April 2023

Bank bonuses can help make checking and savings accounts more appealing to customers, and they can be worth several hundred dollars. But they're usually only available for a short time, and they have strict eligibility criteria. This usually includes opening a new account and depositing a certain amount of funds in the first few months.

Whether you're looking for banks with immediate sign up bonuses, savings account promotions, or the best checking account offers, you're in the right place. Read on for our favorite bank sign up bonuses and details on how these bonuses work:

Here's a look at some of the best bank promotions available on checking accounts right now.

Citi checking account bonus

What you get: $200, $500, $1,000, $1,500, or $2,000 bonus

How you earn it: You must open a Citi checking account in an eligible account package by April 4, 2023, and deposit new-to-Citibank funds within 20 days of account opening. You must then maintain the required minimum balance in your account for an additional 60 days from the 21st day. The amount you deposit determines the size of your bonus:

• $200 cash bonus: $10,000 minimum balance
• $500 cash bonus: $30,000 minimum balance
• $1,000 cash bonus: $75,000 minimum balance
• $1,500 cash bonus: $200,000 minimum balance
• $2,000 cash bonus: $300,000 minimum balance

How you qualify: You must be at least 18, and you may not have had a Citi checking account within the last 180 days. You must also furnish or have a valid Form W-9 or Form W-8BEN on file with Citibank.

When you'll get it: You'll receive your bonus within 30 days of completing all qualifying activities.

Where to open an account: You must open your eligible account online, by phone, or at a Citibank branch to claim this bonus.

Monthly fees: Monthly fees vary depending on which account package you choose:

• Citigold® account: No monthly fee
• Basic Banking account: $12 (waivable)
• Citi Priority package: $30 (waivable)
• Citibank® package: $25 (waivable)

TD Beyond Checking $300 bonus

What you get: $300 bonus

How you earn it: Open a new TD Beyond Checking account by March 31, 2023, and have at least $2,500 in direct deposits within 60 days of account opening.

How you qualify: You qualify if you do not have an existing TD Bank personal checking account and have not had one within the last 12 months. Customers who have received a prior personal checking account bonus with TD Bank at any time are also not eligible for this bonus.

When you'll get it: Once you meet the qualifications, the bonus will be credited to your account within 180 days of account opening.

Where to open an account: Like with most bank bonuses, you must open your TD Beyond Checking account online if you want to earn this bonus.

Monthly fees: You'll pay $25 per month to own this account unless you have $5,000 in monthly direct deposits, you maintain at least a $2,500 daily minimum balance, or you have at least $25,000 in combined eligible TD accounts.

TD Convenience Checking℠ $200 bonus

What you get: $200 bonus

How you earn it: Open a new TD Convenience Checking℠ account by March 31, 2023, and receive at least $500 in direct deposits to the account within 60 days of account opening.

How you qualify: Like many bank account bonuses, you qualify if you do not have an existing personal checking account with TD Bank. Customers who have closed a personal checking account within the last 12 months or who have received a previous TD Bank checking account bonus at any time are not eligible for this bonus.

When you'll get it: Once qualifications are met, the bonus will be credited to your account within 180 days of account opening.

Where to open an account: Open your TD Convenience Checking℠ account online to take advantage of this bonus.

Monthly fees: You can waive the $15 monthly fee by maintaining a minimum daily balance of $100 or more. The fee is also waived if you're between 17 and 23. This is the best bank bonus from TD if you're just starting out financially.

These are some of the best savings account bonuses and offers available right now.

Alliant Credit Union Ultimate Opportunity Savings $100 bonus

What you get: $100 bonus

How you earn it: You must open an Ultimate Opportunity Savings account by Dec. 31, 2023, and deposit at least $100 per month for 12 consecutive months. The balance at the end of the year must be at least $1,200.

How you qualify: You qualify as long as you're not a current Alliant Credit Union savings account holder and have not closed an Alliant Credit Union savings account within the last 180 days.

When you'll get it: It'll take up to four weeks to receive your bonus after completing all the qualifying activities.

Monthly fees: This account doesn't have any monthly fees as long as you choose eStatements.

TD personal savings account $200 bonus

What you get: $200 bonus

How you earn it: You must open a new TD Signature Savings or TD Simple Savings account by March 31, 2023, and deposit $10,000 or more within 20 days of account opening. You must also maintain a balance of at least $10,000 for 90 days.

How you qualify: This bonus is not available to those who already have a TD Bank personal savings or money market account or who have had one of these accounts within the last 12 months. It's also not available to anyone who has previously earned a TD Bank savings account or money market account bonus.

When you'll get it: Once qualifications are met, the bonus will be credited to your account within 180 days of account opening.

Where to open an account: Open a qualifying TD Bank savings account online to claim this bonus.

Monthly fees: The TD Signature Savings account has a $15 monthly fee while the TD Bank Simple Savings account has a $5 monthly fee. TD Bank gives you multiple options to waive both of these fees, though.

Bank account bonuses and offers are a way for banks to attract new customers who may be on the fence about where to place their money. Banking is a competitive business, especially with the rise of online banks that offer low fees and high APYs, so bank offers can give a bank account that little bit of extra appeal.

Checking account bonuses are much more common than savings account offers. The main draw with savings accounts is the APY. Checking accounts often lack interest, which means a bonus can go a long way toward helping an account stand out. Savings account offers are more rare, but once in a while you'll see bank promos featuring savings accounts.

Here's what you should look for when you're ready to open a bank account with a bonus offer:

1. Valuable long-term features: A bank bonus is nice, but it's a one-time offer. Once you've earned it, you're stuck with the bank account. So it doesn't make sense to open an account for the bonus alone if it doesn't have the features that will help you manage your money long term. The best bank deals will connect you with a bank you'll love for years to come. For example, if you're opening a savings account, look for a high yield savings account with a bonus -- that way, you'll earn interest for years after the bonus is gone.
2. Ability to qualify: There's no sense in signing up for an account that offers one of the best bank bonus offers if you doubt your ability to meet the qualification requirements necessary to earn that bonus. Make sure you review all criteria necessary to earn the bonus first and note any deadlines so you don't accidentally disqualify yourself.
3. Impressive bonus: All other factors being equal, you may as well go for the bank account that offers the largest bonus.

To get a cash bonus when you open a checking or savings account, you normally need to open a new account with the bank and you must open the account during the promotional period. You might need to enter some type of promotional code or use a specific link when you sign up to claim the bonus.

Each bank offer will have its own criteria you must meet to earn the bonus. Usually, it involves depositing a certain amount of money into the account over the first few statement cycles, but some banks also require a certain number of transactions or a minimum balance over your first few statement cycles. If you're looking for a bank sign up bonus with no deposit required, make sure to double-check with the bank that you truly do not need to make a deposit in order to earn the bonus!

RELATED: Do you love shopping, earning, and saving? If so, check out The Ascent's Ibotta Review and see if a coupon app is right for you.

Here are a few banks offering checking and savings account bonuses you can claim now:

1. Bank of America: Bank of America offers one of the more unique bank promotions on its versatile Advantage Banking account, which lets you choose between three accounts with different features and switch between them as often as you'd like.
2. BMO Harris: BMO Harris offers several checking account promotions, and they're pretty sizable compared to what their competitors offer.
3. Chase: Chase has several bank account offers on its checking accounts and is one of the few banks to offer savings account bonuses on occasion. Chase typically gets bank incentives into qualifying customers' accounts much faster than many other banks. This is the best bank bonus if you're already interested in opening a Chase account.
4. Citibank: Citibank offers bonuses on several of its checking accounts. Some of these are especially lucrative, but you'll need a lot of cash to claim the largest bonus.
5. Huntington National Bank: Huntington National Bank is a regional bank that offers several checking account offers with relatively painless qualification requirements. There are several accounts to choose from, so it's easy to find a bonus you can earn and an account with the features you need long term.
6. SoFi: SoFi offers an easy-to-achieve sign up bonus for its checking and savings account customers, and it’s even open to some existing customers.
7. TD Bank: TD Bank consistently features checking account offers on its Beyond Checking and Convenience Checking℠ accounts and the qualification requirements are pretty easy to meet.
8. Truist: Formerly BB&T and SunTrust, Truist offers one of the most competitive checking account bonuses we've found.
9. Wells Fargo: Wells Fargo offers both smaller and larger bank account bonuses, so you can choose the one with requirements that work for you.

RELATED: You may also want to check out The Ascent's Regions Bank review for more bank bonuses.