Snag Up to $300 with Savings Bank of Danbury's Latest Checking Deals

If you're in Connecticut and looking for a little extra cash just by switching checking accounts, Savings Bank of Danbury has some tempting offers on the table right now. Depending on which account you choose, you could walk away with up to $300. Let's break down what you need to do to qualify, what fees to watch for, and which account might be your best bet.

Three Tiers, Three Bonus Levels

Savings Bank of Danbury is running three distinct checking promotions, each with its own bonus and qualification path. The simplest is the Priority Checking account, which nets you $100 after you make 10 debit card purchases each month for two consecutive months. No direct deposit needed here — just remember to use that card regularly.

If you can set up a direct deposit, the Priority Plus Checking account offers $200. You'll need to have qualifying deposits of at least $500 per month for two months. That's the same requirement for the top-tier Priority Platinum Checking, which pays $300. So if you're already planning to shift your payroll or pension direct deposit, the Platinum account gives you the most bang for your buck.

All three accounts require a $50 minimum to open, and you need to keep the account in good standing (positive balance, no overdrafts) for 90 days after opening to actually receive the bonus.

• Priority Checking: $100 bonus – 10 debit transactions/month for 2 months
• Priority Plus Checking: $200 bonus – $500 direct deposit/month for 2 months
• Priority Platinum Checking: $300 bonus – same direct deposit requirement as Plus

Students Get a Different Deal

There's also a separate offer for students. Open a Student Checking account with just $10, and you're eligible for a $100 bonus — but it works a little differently. To get the cash, you need to request the reward within 30 days of receiving your transcripts. If you have a 3.0 GPA or higher, you can earn up to $25 twice a year in high school, or $50 twice a year in college. That's not a signing bonus so much as an ongoing incentive to keep your grades up.

The student account has no monthly fees for up to five years or until graduation, whichever comes first. After that, it converts to a regular Priority Checking account, which does have potential fees. Also, ATM fees from non-SBD or Allpoint ATMs are reimbursed up to $15 per statement cycle.

Watch Out for Monthly Fees

None of these accounts have a mandatory monthly fee, but they do come with conditions. For Priority Checking, the fee is waived as long as you don't write more than 10 checks per statement cycle. Priority Plus requires either a $1,000 average daily balance or a $250 monthly direct deposit. Priority Platinum needs a $2,500 average daily balance to avoid the $20 fee.

If you're not careful, those fees can eat into your bonus pretty quickly. Make sure you understand which waiver applies to your account and set up reminders to meet the requirements each month.

• Priority Checking: fee waived if ≤10 checks posted per cycle
• Priority Plus: $12 fee waived with $1,000 avg balance OR $250+ direct deposit
• Priority Platinum: $20 fee waived with $2,500 avg balance
• Student Checking: no fees for first 5 years or until graduation

Fine Print That Matters

A few details worth noting: You must be a new checking customer — meaning you haven't had a checking account with Savings Bank of Danbury in the last 180 days. The bonus is limited to one per tax ID, so no double-dipping. Also, the bonus is considered taxable income, so you'll get a 1099 form next tax season.

Direct deposits must be regular, recurring ACH credits like payroll or government benefits. Transfers from another Savings Bank of Danbury account don't count. And if you close the account before 90 days, you forfeit the bonus.

Bottom Line

• Choose the account tier that matches your banking habits — Priority Checking if you use debit a lot, Priority Plus/Platinum if you have steady direct deposits.
• Set up a direct deposit of at least $500/month to unlock the $200 or $300 bonuses.
• Keep the account open and in good standing for at least 90 days to receive the bonus.
• Be mindful of monthly fee waivers — missing them could cost you.
• If you're a student, the Student Checking account offers a unique GPA-based reward system with no monthly fees.

Common Questions