[Expired] Live Oak Bank $400 Business Savings Bonus

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

Offer at a glance

  • Maximum bonus amount: $400
  • 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: 10/31/24

The Offer

Direct link to offer

  • Live Oak Bank is offering a $400 bonus when you open a business savings account and complete the following requirements:
    • Open and fund account by 10/31/24 with at least $30,000
    • Maintain that balance for 90 days
  • Existing customers must increase their balance by at least $30,000 and maintain that for 90 days

The Fine Print

  • 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 earns 3.9% APY. This bonus works out to be an additional 5.33% APY. There is also a personal savings bonus for $200. We will add this to our list of the best savings bonuses.

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    William Charles
  • On October 4, 2024, 09:00
Tags: direct deposit not requirednationwide bank bonusessoft pull

View Comments (103)

  • Has anyone had the business $200 denied because the same social security number was used on the personal offer ending the same date. This is what they are claiming for the offer ending 1/13/25. I am currently fighting this with their management.

    • Doesn't help your case, but I did verify, I used my EIN and received the biz & personal bonus with SSN without issue. I just checked my mailed 1099's.

  • Called in today regarding overdue payout of the October $400 bonus on an existing Business Savings account, and was denied.

    I was told that as an existing customer, I would had to have opened an *additional* Business Savings account and kept the $30,000 in there to qualify (while maintaining any existing balance in my pre-existing Business Savings account). This runs counter to how most savings bonuses open to existing customers work at other banks (where you simply deposit into the existing account), but upon re-examining the terms of the offer, I can't argue that it's not stated as such. My fault.

    At least the interest rate was decent for the time I had my money in there, I guess.

  • Received the $200 bonus from their November business savings promotion. It required me to call in as the bonus didn't automatically get added to my account during the 45 day payout period. Called them yesterday and the $200 bonus showed up in my account today.

    I was able to successfully stack this with the $400 bonus from their October business savings promotion. That one did payout on time and automatically. I'm guessing there was a hiccup in their system when it came to calculating these stacked promotions.

      • I've received 2 personal savings account bonuses concurrently as well. Working on the 3rd personal savings bonus right now. Used SSN for all accounts.

        • Do I understand this correctly? "concurrently" meaning you opened two savings accounts in similar timeframe and got both bonuses?

  • Just received the November business savings $200 credit, so hopefully the November personal savings promo is next..

    11/14 Opened
    11/19 $20k push arrived
    2/13 $200 promo

    Already received the October business and personal bonuses, like others.

  • I had an existing account and added an additional 30,001 past the small balance on 10/30/2024. Still have not received the bonus. I pulled all the money out a couple of days ago just to leave some buffer. If I don't receive by next month I will probably have to call in.

  • Churn DP:
    24/04/18: Opened
    24/07/31: Bonus
    24/09/06: Closed
    24/10/04: Opened
    24/10/24: $30K balance
    25/01/28: Removed all but a penny (kept it in more than it needed to be for ease)
    25/02/04: $400 promotional credit

    Still waiting on personal savings account to see if that will come too or if this business bonus preempted that one.

    • Nobody has received a $300 bonus for the Nov promo, even if they did no other offers.

      I received the $200 personal & $400 biz bonuses from October, so no reason to think that you would get preempted. However, until the $300 bonuses start flowing, I understand the skepticism.

      I can however see them try and pull the "one bonus per promotional period" and then say the promo periods overlapped on the personal side. I am holding off on any more until the start paying.

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