PeoplesBank Bonuses: $100, $350 Checking, Referral Bonuses (MA, CT)

Find an updated list of PeoplesBank promotions, bonuses, and offers here.

Update 11/4/25: The prior $300 checking bonus has been increased to $350 good through 11/17/25.

PeoplesBank Promotions Review

Peoples Bank is headquartered in Holyoke, Massachusetts and was established in 1885. Since then they have grown to 23 locations, offer money market rates that are 82% higher than the national average, and they have an A health rating.
I’ll go over PeoplesBank offers below.

PeoplesBank $350 Checking Bonus 

• What you’ll get: $350 bonus
• Where it’s available: MA, CT (Bank Locator)
• Direct Deposit Requirement: Yes, no minimum specified
• Credit Inquiry: Soft Pull
• Monthly fees: None
• Early Termination Fee: 90 days, $15
• How to earn it:
  • Open a checking account by November 17, 2025. Enroll online or in person using promo code FALL35025.
  • Set up direct deposit. Deposit a minimum of $1,500 in direct deposits within 60 days.
  • Receive $350. Once you meet the criteria, you will receive $350 in your account within 60 days.

(Expires 11/17/2025)

Fine Print

• Offer eligible to residents in Hamden, Hampshire, Franklin (MA) and Hartford, Tolland, Litchfield (CT) counties.
• Minimum opening deposit of $10 required.
• The checking account must be opened online or in a banking center between 9/29/25–11/17/25.
• To qualify, the customer must mention or enter the promotional code Fall35025 and have a minimum of $1,500 in direct deposits within 60 days of the account open date.
• Qualifying direct deposits are electronic deposits from a third party, including salary, pension, government benefits, or other recurring ACH credits.
• Transfers from another PeoplesBank account and deposits made by cash, check or mobile deposits do not qualify.
• If you meet the criteria, the $350 bonus will be deposited into your account within sixty (60) calendar days after the qualification period ends.
• Customers who have had an open PeoplesBank checking account within 12 months of new account opening are not eligible for the offer.
• Personal accounts only.
• Limit of one promotional account per customer.
• Customers who have received promotional payouts previously are not eligible.
• Cannot be combined with any other offer.
• Offer available in Hampden/Hampshire/Franklin counties in Massachusetts and Hartford/Tolland/Litchfield counties in Connecticut.
• PeoplesBank associates are not eligible.
• Offer subject to change without notice.
• Bonus payout may be tax reportable, please consult your tax advisor.

PeoplesBank $100 Checking Bonus

• What you’ll get: $100 bonus
• Where it’s available: MA, CT
• How to earn it:
  • A PeoplesBank employee must sign up for direct deposit at the same time as they open their new PeoplesBank personal checking account
  • Earn a $100 into their new checking account after the first direct deposit is made

(Limited time offer)

How to Avoid Monthly Fees

• Free Checking: No monthly maintenance service
• Choice Checking: $10.00 monthly waived with $2,000 or more are not made within each statement cycle
• Interest Checking: $20.00 monthly fees waived with $5,000 in average daily balances
• Primary Savings: No monthly maintenance service
• Growth Savings: $10.00 monthly waived with $2,500 or more in average balance
• Elite Tiered Money Market: No monthly maintenance service
• Student Savings: No monthly maintenance service
• Free Business Checking: No maintenance fee
• BusinessEdge: No maintenance fee
• Business Interest Checking: Not stated
• Commercial Checking: Not stated
• IOLTA: No maintenance fee

Author’s Verdict

To summarize, PeoplesBank has some of the best promotions, bonuses, and offers. They offer a variety of banking options so take advantage.

For more current offers, check out our bank bonuses page. Compare PeoplesBank rates for CDs and Savings with our best rates for Savings and CD accounts.

Be sure to check more popular bank promotions include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank, and many more.