The Bank of Elk River Promotions: $350, $500 Checking Bonus (MN)

Check out the latest The Bank of Elk River promotions, bonuses, and offers here.

Update 7/18/25: There’s currently a $350 or $500 checking bonus valid through 10/31/25.

The Bank of Elk River Promotions Review

The Bank of Elk River is a community bank that has been family-owned and operated since 1885. As one of the larger community banks in the state of MN with $425+ million dollars in assets, The Bank of Elk River is committed to providing the best products and services to meet business and customer needs.

I’ll go over The Bank of Elk River offers below.

The Bank of Elk River $500 Checking Bonus

• What you’ll get: $500 bonus
• Where it’s available: MN (Bank Locator)
• Credit Inquiry: Soft Pull or Hard Pull? Let us know
• Direct Deposit Requirement: Yes
• Credit Card Funding: Unknown
• How to earn it:
  • Open an Interest Boost Checking, Cashback Checking, or Everyday Checking. Must be a new checking account customer and enter offer code WELCOME online during account opening or provide offer code to banker at the time of account opening.
  • Make qualifying direct deposits totaling $3,500 or more within 90 days of account opening for a $500 bonus, or direct deposits of $1,000 or more for a $350 bonus. Plus, enroll in eStatements.
  • If offer requirements are met, we’ll deposit the bonus into your new account within 30 days.

(Expires 10/31/2025)

The Bank of Elk River $500 Business Checking Bonus (Expired)

• What you’ll get: $500 bonus
• Where it’s available: MN (Bank Locator)
• Credit Inquiry: Soft Pull or Hard Pull? Let us know
• Direct Deposit Requirement: No
• Credit Card Funding: Unknown
• How to earn it:
  • Bank of Elk River is offering a bonus of $500 when you open a new business or commercial checking account and complete the following requirements:
    • Open with a minimum opening deposit of $1,000
    • Maintain an average ledger balance of $5,000 for 90 days
    • Sign up for online banking & eStatements
    • Complete 15 transactions with the account within 90 days of account opening
  • You can also get a smaller $250 bonus if you maintain an average ledger balance of $2,500 for 90 days

(Expires 12/31/2019)

How To Waive Monthly Fees

• Ultimate Checking: $15
  • Maintain a $10,000 combined deposit balance
• Carefree Checking: $10
  • Maintain a $750 minimum balance in checking or age 50 and older
• Everyday Checking: Waive the $6 monthly service charge by:
  • Keeping a minimum daily balance of $100+, or
  • Receiving direct deposit(s) of $500+ per statement cycle, or
  • If the primary account holder is age 24 or younger
• Business Checking Account: Maintain a $1000 minimum balance to avoid the $8 monthly balance fee
• Commercial Checking: $10.00 monthly maintenance fee
• Commercial Checking with Interest: $10.00 monthly maintenance fee

Bottom Line

In my opinion, there are more attractive promotions than this one from The Bank of Elk River, which you can find one our site. I would only recommend checking it out if it triggers a soft pull, which you can find out by calling your local CSR.

For more current offers, check out our bank bonuses page. Compare The Bank of Elk River 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.

Additionally, you can find a full list of the best bank promotions here. Finally, remember to bookmark this page because you will always find an updated list of The Bank of Elk River promotions here.