Live Oak Bank Bonuses: $300 Business Savings Promotion + 4.00% APY (Nationwide)

Find all the latest Live Oak Bank promotions, bonuses, and offers here.

Update 5/24/24: The $300 business savings bonus has returned and been extended through 6/13/24 with a lessened deposit amount of $30K to qualify!

About Live Oak Bank

Live Oak is a digitally focused, FDIC-insured bank serving customers across the country. They are the #1 SBA 7(a) lender by dollar volume in the country with a mission is to be America’s small business bank.

They aim to fulfill that mission through banking products that help business owners buy, build, expand and operate their business, along with FDIC-insured high-yield savings and CDs to grow their hard-earned money.

Their greater vision is to redefine banking infrastructure.

They continuously invest in technology solutions that will reinvent the banking experience.

Live Oak Bank $300 Business Savings Bonus

Earn a $300 bonus from Live Oak Bank when you open a business savings account.

• What you’ll get: $300 Bonus
• Eligible account: Business Savings
• Where it’s available: Nationwide
• Credit Inquiry: No
• Direct Deposit Required: No
• Monthly Fee: None
• How to earn it:
  • Open a new Live Oak Bank business savings account between 5/13/2024 and 6/13/2024.
  • Deposit at least $30,000 or more into your new account by 6/13/2024. In addition to this funding qualification, existing customers must maintain a total balance in all existing Live Oak Business Savings accounts that is greater than or equal to the total balance as of end of day 05/12/2024.
  • Maintain a balance of at least $30,000 for 90 consecutive days from the date of funding.

(FDIC Insured)

Fine Print

• Customers must meet all of the following requirements to be eligible for the $300 bonus:
• New and Existing Customers:
  • Only one bonus is available per legal entity.
  • Only business savings accounts are eligible for the bonus offer. Checking accounts, personal (consumer) accounts, CD accounts and fiduciary accounts (e.g., trusts) are not eligible for this offer.
  • Opening of a new account will be subject to approval by Live Oak Banking Company in its sole discretion.
  • A new Live Oak Bank business savings account must be fully funded with at least $30,000 by 11:59 p.m. Eastern Time on 06/13/2024 to be eligible for the bonus. If the account is not fully funded by June 13th, then the account is not eligible for the bonus offer.
  • All funding of the new business savings account must consist of funds originating from an external financial institution to qualify; deposits or transfers originating from an existing Live Oak Bank account (whether personal or business) via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
  • Beginning on the date between May 13, 2024 and June 13, 2024, that the new account attains a balance of at least $30,000, if the balance remains equal to or exceeding $30,000 for 90 consecutive days, then the account will be eligible for the bonus if all other conditions are met. Please note, however, that use of Bank’s ICS Sweeps Service may cause the account balance to drop below the $30,000 minimum balance as swept funds will not be deemed to be counted toward the available balance for the purposes of the promotion. If all eligibility criteria are met, the $300 cash bonus will be deposited to your open, eligible account?within 45 days following the expiration of the 90-day period.
  • New account must not be closed or restricted at the time of payout in order to receive the bonus. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or other suspicious activity is suspected.
• Live Oak Bank employees do not qualify.
• Existing Customers:
  • In addition to the other requirements for the bonus offer, existing Live Oak Bank, customers must maintain their existing account balances (not included interest accrued but not credited to the account) at or above the end of day balance as of May 12th 2024 11:59:59pm (ET) across their existing business savings in order to be eligible for the bonus offer.

Live Oak Bank $300 Business Checking & Savings Bonus (Expired)

Earn a $300 bonus from Live Oak Bank when you open a business checking and business savings account.

• What you’ll get: $300 Bonus
• Eligible account: Business Checking & Savings
• Where it’s available: Nationwide
• Credit Inquiry: No
• Direct Deposit Required: No
• Monthly Fee: None
• How to earn it:
  • $150 cash bonus for business savings:
    • Open a Live Oak business savings account between 2/15/23 and 3/31/2023.
    • Deposit at least $10,000 into your account by 3/31/2023.
    • Maintain a balance of $10,000 or more for 90 days and watch your business savings grow with 4.00% APY*.
    • Must be a first-time Live Oak business savings customer to be eligible for this bonus offer.
  • $150 cash bonus for small business checking:
    • Open a new Live Oak Bank business checking account between 2/15/2023 and 3/31/2023.
    • Deposit at least $2,000 into your new business checking account within 90 days of opening.
    • Make 20 qualified transactions within 90 days of opening your account.
    • Must be a first-time Live Oak small business checking customer to be eligible for this bonus offer.

Fine Print

• Important Information about this Business Savings Bonus Offer:
• Bonus offer is only available to new business savings customers. One offer per business or per authorized signer. To be eligible for the $150 bonus offer, a new Live Oak Bank business savings account must be opened, approved and funded with at least $10,000 in new money by 11:59 p.m. ET on 3/31/2023.
• A balance of $10,000 or more must be maintained for at least 90 days from the date of funding. Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
• This bonus offer is available to new business savings customers. The opening of a new account will be subject to approval. Only one bonus offer per customer, business or authorized signer, will be awarded. Eligibility will be limited based on account ownership. Deposited funds must be collected to be eligible towards bonus offer. The $150 cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ends. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
• The bonus payout may be subject to tax reporting. Fiduciary accounts (e.g., trusts) not eligible for this offer. Offer cannot be combined with any other savings offer and is limited to one bonus per account and per authorized signer.
• Offer expires on 11:59 p.m. ET on 3/31/2023.
• To receive this bonus, the new account must not be closed or restricted at the time of payout. Live Oak Bank employees do not qualify.
• Important Information about this Small Business Checking Account Bonus Offer:
• Bonus offer is only available to new small business checking customers. One offer per business or per authorized signer. To be eligible for the $150 bonus offer, a new Live Oak Bank small business checking account must be opened and approved by 11:59 p.m. ET on 3/31/2023.
• The customer must also deposit at least $2,000 of new money into the small business checking account within 90 days of opening the account. Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
• The customer must also make 20 qualified transactions within 90 days of opening the account. Qualifying debit transactions include ATM withdrawals, debit card purchases, ACH payments, and paid checks. Each transaction must equal at least $20. Internal transfers, fees, debit card refunds and transaction reversals do not count as qualifying transactions for bonus offer.
• The opening of a new account will be subject to approval. Only one bonus offer per customer, business or authorized signer, will be awarded. Eligibility will be limited based on account ownership. Deposited funds must be collected to be eligible towards bonus offer. The $150 cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ends. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
• The bonus payout may be subject to tax reporting.
• Fiduciary accounts (e.g., trusts) not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per authorized signer.
• Offer expires on 11:59 p.m. ET on 3/31/2023.
• To receive this bonus, the new account must not be closed or restricted at the time of payout. Live Oak Bank employees do not qualify.
• * Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 2/14/2023. Rates may change at any time without prior notice, before or after the account is opened.

How To Avoid Monthly Fees

• Savings Account: No monthly fees
• Business Checking: No monthly fees
• Business Savings Account: No monthly fees

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Conclusion

If this promotion doesn’t seem appealing, then you should check out a different bonus offer that’s better suited to you.

While these bank promotions are rather attractive, you can also take advantage of our list of Savings, Money Market, and CD rates.

• Best Savings/Money Market rates
• Best CD Account rates

You should check out our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, and many more.

Feel free to comment on this post with any questions you may have about Live Oak Bank, their accounts they offer, or any experiences you have had!

Compare this offer to our list of the latest business banking promotions and business savings rates.

Check back often for more Live Oak Bank Bonuses, Promotions, or Offers!