4 Bank Accounts With Perks for Savers Age 50 and Older

4 Bank Accounts With Perks for Savers Age 50 and Older Photo by Monkey Business Images / Shutterstock.com

Have you gotten an AARP invitation yet? That’s your sign. Some of the best senior discounts are now yours for the taking — but the perks don’t end there.

Once you turn 50, you’re also eligible for big savings at the bank — on things from interest rates to waived fees.

Take for example the following checking accounts. They offer exclusive discounts or other perks for older customers.

1. TD 60 Plus Checking

TD Bank’s TD 60 Plus Checking account is for customers 60 years of age and older.

It requires no minimum opening deposit and pays interest — 0.05 percent annual percentage yield (APY), as of the time this article was written.

Other perks include:

  • Free checks
  • Free paper statements
  • No monthly maintenance fee — if you maintain a minimum daily balance of $250

TD Bank has locations in more than a dozen states and Washington, D.C.

2. Senior Checking

BB&T’s Senior Checking account is for customers age 55 and older.

It requires a minimum opening deposit of $100.

Other perks include:

  • Free checks
  • No monthly maintenance fees — if you maintain an average checking balance of $1,000 per statement cycle, or receive direct deposits totaling at least $500 per statement cycle

BB&T has locations in more than a dozen states and Washington, D.C.

3. Golden Checking

Axos Bank’s Golden Checking account is for those 55 years of age and older.

It has no minimum-balance requirements and pays interest — 0.2 percent APY, as of the time this article was written.

Other perks include:

  • Free checks
  • No monthly maintenance fee
  • ATM fee reimbursements of up to $8 per month for domestic ATM transactions

Axos Bank is an online-only bank.

4. Premium Checking

U.S. Bank’s Premium Checking account is not limited to seniors, but seniors can avoid the monthly maintenance fee.

The minimum opening deposit is only $25, and the account pays interest. Enter your ZIP code on U.S. Bank’s website to see current interest rates.

Other perks include:

  • Free checks on initial check order and 50 percent off any re-orders
  • Free paper statements
  • No monthly maintenance fee — if at least one account holder is 65 or older, or you maintain an average account balance of $5,000
  • No out-of-network ATM fees from U.S. Bank

U.S. Bank has locations in most states and Washington, D.C.

Other options

Some smaller banks also offer checking accounts for older customers, so you may want to ask small banks in your area if they offer one. For example, the following accounts are offered by small banks to customers age 55 and older:

  • Senior Select checking from First National Bank, which has locations in Texas
  • Q Crown Plus checking from Queensborough National Bank and Trust Co., which has locations in Georgia
  • Club55 Checking from State Bank, which has locations in Iowa

Of course, just because you’re 50 or older it doesn’t mean the best checking account for you will have a word like “senior” in its name. So, also consider “regular” checking accounts. For help finding an interest-bearing checking account, try out Money Talks News’ account search tool.

Would you recommend a particular bank account to people age 50 and older? Share it with us by commenting below or on our Facebook page

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