You know the standard checking plus savings account bundles most banks offer. Usually, when you apply for a checking account, the bank throws in a ‘free’ savings account too. This is an effort to get most of your assets to their bank and for them to gain your loyalty on other bank products too.
What about other banking bundles, though? Many banks offer unique product bundles that could save you more money than a savings account could.
Here are the top options.
INB Mortgage Account Bundle
If you have an INB checking account and mortgage, you’ll save some money on your closing costs and even get a bonus when you sign up.
Here are the details:
• Get a $200 closing cost credit on your INB mortgage
• Receive a $250 bonus if you set up automatic payment to your INB mortgage from your INB checking account, along with direct deposit of your paycheck
• Bonus: Sign up for Pocket Change and receive up to $100 in Pocket Change transfers (Pocket Change rounds up purchases made with your INB Visa debit card and transfers the spare change to your savings account)
U.S. Bank Gold Checking Account
The U.S. Bank Gold Checking account is a standard checking account, but if you bundle it with a U.S. Bank mortgage, you get plenty of benefits including waived monthly maintenance fees of $14.95 a month.
In addition to the standard benefits including:
• No ATM transaction fees at U.S. Bank ATMs
• Overdraft protection
• Online and mobile banking
• Two Easy Checking accounts for family members free of charge
U.S. Bank Gold Checking Account members also enjoy:
• No-fee money market account
• Save up to $1,000 on your U.S. Bank mortgage (0.25% of the loan amount up to $1,000)
• 100 free trades in a self-directed brokerage account through U.S. Bancorp Investments
Freestar Financial Credit Union
If you sign up for a Freestar Financial Boomerang Rewards Checking and set up direct deposit, you’ll receive 0.25% off a car, RV, or personal loan. Plus, you can get a home equity line of credit for no closing costs.
The Boomerang Reward Checking account offers these benefits:
• No monthly fees
• Up to 4% cashback on purchases made with your Visa debit card
• Mobile banking
• Online bill pay
• Over 30,000 free ATMs
Citibank Relationship Rates
At Citibank, you can earn relationship rates with almost any Citi deposit account. They offer incentives for different deposit amounts.
The only requirements are that you have a Citi deposit account and that you set up direct deposit to your mortgage from your Citi account. If you meet those two requirements, you can earn these benefits on your mortgage:
• Balances up to $49,999.99 – $250 off your closing costs
• Balances $50,000 to $199,999.99 – 0.125% off your interest rate
• Balances $200,000 to $499,999.99 – 0.25% off your interest rate
• Balances $500,000 – $999,999.99 – 0.375% off your interest rate
• Balances $1 million – $1.9 million – 0.5% off your interest rate
Partners Bank Heroes Bundle
Partners Bank offers bundles for veterans and first responders to show their appreciation for their service. First responders include anyone in the medical field, police officers, firefighters, and EMTs.
Along with relationship rates (higher rates) on your deposit accounts, Partners Bank offers these benefits:
• 0.125% off consumer loan rates
• Save up to $200 on a new mortgage with Partners Bank
• VA loans for veterans at a discounted rate
Fidelity Bank Relationship Checking
With a Fidelity Bank Relationship Checking account, you’ll receive a variety of benefits including the standard benefits checking accounts offer including online banking, free ATM Visa card, and online bill pay.
Enjoy these benefits with a Fidelity Bank Relationship Checking Account:
• Free small safe deposit box
• Free cashier’s checks
• $300 off mortgage closing costs
• Free consultation with a Fidelity investment advisor
• Free dedicated Relationship Manager
First Republic Checking Account with Personal Line of Credit
If you’re in over your head in consumer debt or have high interest student loans, First Republic can help with a low interest personal line of credit.
To be eligible for the line of credit, you’ll need to open a First Republic ATM Rebate Checking Account. If you do, you can apply for a Personal Line of Credit account with interest rates of 2.25 – 3.50%, which are much lower than interest rates offered on any other financing.
You can use the loan to pay off any type of debt including student loans (make sure you’ve exhausted all federal help first because you’ll lose this option once you refinance). There are no loan fees and you can make interest-only payments for the first 2 years.
Pentucket Bank Relationship Banking
Open a Plus or Premier Checking Account at Pentucket Bank and keep a $500 average monthly balance and you’ll earn loan discounts.
• Plus customers – $250 off closing costs on a primary residence
• Premier customers – $500 off closing costs on a primary residence
If you’re in the market for a checking account, get the most out of it! Most banks offer checking and savings accounts together, but you can get even more benefits for other financial relationships with a bank.
If you’ll need a loan in the future, whether a personal loan or mortgage, it’s worth looking into banks that offer relationship rates or special features for their deposit customers. Even if you save money on closing costs, it’s less money out of pocket when you buy a home or take out a loan.
The best situation is to save on your interest rate, but read the fine print. Most banks require automatic withdrawal from your checking account to the mortgage or loan to get the rate. If you’re comfortable with this, take advantage of the incredible savings!