[Expired] Live Oak Bank $300 Savings Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 4/14/25: Deal is back until 5/16/25

Update 2/4/25: Deal is back until 3/31/2025

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide
• Direct deposit required: None
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: No
• Credit card funding: No
• Monthly fees: None
• Early account termination fee: None
• Household limit: No
• Expiration date: 1/13/25

The Offer

Direct link to offer

• Live Oak Bank is offering a $300 bonus when you open a new savings account and complete the following requirements:
  • Open a Live Oak Bank personal savings account by 5/16/25
  • Deposit at least $20,000 into your account by 5/16/25
  • Maintain a balance of at least $20,000 for 60 days.

The Fine Print

• New and Existing Customers:
  • Only one bonus is available per Tax Identification Number per promotional period.
  • Only personal savings accounts are eligible for the bonus offer. Checking 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 personal savings account must be fully funded with at least $20,000 by 11:59 p.m. Eastern Time on 01/13/2025 to be eligible for the bonus. If the account is not fully funded by January 13th, then the account is not eligible for the bonus offer.
  • All funding of the new personal 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 in November or December 2024 or January 2025 that the new account attains a balance of at least $20,000, if the balance remains equal to or exceeding $20,000 for 60 consecutive days, then the account will be eligible for the bonus if all other conditions are met. 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 60-day period.
  • Your 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.
  • Any promotional amounts received may be subject to taxation.

   

• Existing Customers:
  • In addition to the other requirements for the bonus offer, existing Live Oak Bank customers must maintain their existing account balances (not including interest accrued but not credited to the account) at or above the end of day balance as of November 11, 2024 11:59:59pm (ET) across their existing personal savings in order to be eligible for the bonus offer.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees.

Early Account Termination Fee

There is no EATF.

Our Verdict

This account also earns 4.3% APY, this is competitive with the top rates currently. This is better than the recent $200 savings bonus as the bonus is bigger and the hold period is shorter. This works out to be an extra 9.125% annualized. Worth doing if you need to tie up some funds.

Hat tip to reader seven

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