Customers applying for a mortgage with TD Bank entered into a drawing to win $250,000 to help pay off the loan.

In a promotion to encourage customers to apply for mortgages, TD Bank (assets: $142 billion). Cherry Hill, N.J. and Portland, Maine, offered to enter all persons who obtained a mortgage in March or April of this year into a drawing. The winner would receive $250,000 to help pay off the mortgage. Additionally, TD Bank offered to award six weekly winners $2,500 to help with their monthly mortgage payment.

Other bank marketing promotions and new products of interest around the nation:

* Ridgestone Bank (assets: $422 million), Brookfield, Wisc., developed a program to help bank customers build their personal savings accounts. In exchange for an above-market rate on a special savings account (Momentum Savings), customers agree to set up an automatic monthly transfer of at least $100 from the Momentum Checking Account to the related savings account. The savings account offers above-market rate and yield for balances between $2,500 and $49,999. The Momentum account, also offers free checks, online banking and online bill pay.

* A person-to-person (P2P) payments tool was recently introduced by Univest National Bank and Trust Co. (assets: $2.1 billion), Souderton, Pa. Called...