Cambridge Trust Promotions: Up To $2,500 Checking/Savings Bonus Offer [MA] – Ends 12/31/23

Cambridge Trust is offering a bonus of up to $2,500. You can get $500 if you deposit $2,500 or more directly into your account for three months in a row, and keep a certain amount of money in your account for the first six months after opening it. Additionally, you can earn $500 for putting in $25,000, $1,000 for $100,000, or $2,000 for $500,000 or more into your account within the first six months of opening it. See below for more details.

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Offer Details

• What you’ll get: Up to $2500 bonus
• Where it’s available: MA
• How to earn it:
  • Earn $500 With Direct Deposit: You can earn this bonus by opening a new Premium Plus Relationship Account and setting up direct deposits within the first six months of opening the account. The direct deposits need to total at least $2,500 per statement cycle. These direct deposits can come from sources like your payroll, federal benefits, retirement benefits, or investment distributions. You will receive the $500 bonus within 45 days after your third direct deposit.
  • Earn Up To $2,000 With New Money $500, $1,000, or $2,000: This bonus is based on the combined average daily balance of new money in your account for the first six months following the opening of your Premium Plus Relationship Account. “New money” means deposits that have not been previously held at Cambridge Trust. The combined average daily balance is calculated by adding the amount of new money in related personal deposit accounts (excluding certificates of deposit) for each day in the six-month period and dividing that figure by the number of days in the same period. Withdrawals and third-party transfers during the first six months will reduce this balance. Depending on your combined average daily balance within this range:
    • $25,000 to $99,999.99 earns a $500 bonus.
    • $100,000 to $499,999.99 earns a $1,000 bonus.
    • $500,000 or more earns a $2,000 bonus.
• When it expires: 12/31/2023

Waive The Monthly Fee

This account has no monthly fees.

READ MORE: GET TOP OFFERS FROM CHASE, AXOS, BANK OF AMERICA AND BMO.

Fine Print

• New Money Bonus $500, $1,000, or $2,000:
  • Bonus credit is based on the combined average daily balance of new money for the first six (6) months after opening a Premium Plus Relationship Account.
  • New money refers to deposits not previously held at Cambridge Trust.
  • The combined average daily balance is calculated by adding the amount of new money in related personal deposit accounts (excluding certificates of deposits) for each day in the 6-month period and dividing it by the number of days.
  • Withdrawals and third-party transfers during the first six (6) months will reduce the combined average daily balance used to determine bonus credit.
  • A combined average daily balance of new money:
    • $25,000 to $99,999.99 earns a $500 bonus.
    • $100,000 to $499,999.99 earns a $1,000 bonus.
    • $500,000 or more earns a $2,000 bonus.
  • New Money Bonus is available to new clients, limited to one per household or tax identification number, and may be withdrawn at any time.
  • The bonus will be credited to the Premium Plus Relationship Account within sixty (60) days following the first six (6) months if qualifications are met.
• Direct Deposit Bonus $500:
  • To earn a $500 bonus, open a new Premium Plus Relationship Account and establish direct deposit within the first six (6) months of account opening.
  • Direct deposits must total at least $2,500 per statement cycle and can come from sources such as payroll, federal benefits, retirement benefits, and/or investment distributions.
  • The Direct Deposit Bonus will be credited to the Premium Plus Relationship Account within forty-five (45) days of the third (3rd) direct deposit.
  • This offer is available only to clients with no existing personal checking account with Cambridge Trust and may be withdrawn at any time.
• Important Notes:
  • Both the New Money Bonus and Direct Deposit Bonus offers expire on December 31, 2023, and may be subject to IRS 1099-INT reporting.
  • Clients are responsible for any federal, state, or local taxes due on the bonuses.
  • For the Premium Plus Relationship Account, as of August 23, 2023, the interest rate and annual percentage yield (APY) is 0.01%, subject to change after account opening. The minimum balance to earn APY is $0.01. There is no minimum opening deposit if opened in private banking offices, but there is a $500 minimum opening balance if the account is opened online. Fees may reduce earnings on the account.

READ MORE: SEE THESE CASH BACK SHOPPING DEALS AND PROMOTIONS FOR BONUS CASH AND REWARDS

Bottom Line

The Cambridge Trust bonus offer seems attractive, especially if you’re considering opening a new Premium Plus Relationship Account. The potential to earn up to $2,000 through the New Money Bonus, based on your deposit amount and maintaining a certain balance for the first six months, can be a nice boost to your account.

Before taking advantage of this deal, make sure to carefully review all the terms and assess whether it aligns with your financial goals and banking needs. You’ll have to have quite a bit of money to earn the maximum bonus.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.