EARN $300 CASH BONUS FOR BUSINESS SAVINGS¹

1. Additional Terms, Conditions, Limitations, and Important Information about this Business Savings Offer:

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 $50,000 by 11:59 p.m. Eastern Time on 4/30/2024 to be eligible for the bonus.  If the account is not fully funded by April 30th, 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 in April 2024 the new account attains a balance of at least $50,000, if the balance remains equal to or exceeding $50,000 for 90 consecutive days, then the account will be eligible for the bonus if all other conditions are met. If all conditions 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.
• Bonus Offer cannot be combined with any other savings offer.
• The 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 including interest accrued but not credited to the account) at or above the end-of-day balance as of April 1, 2024 11:59:59pm (ET) across their existing business savings in order to be eligible for the bonus offer.
• If at any time during the month of April your existing account balance goes below the April 1, 2024 end-of-day balance, you must reattain and maintain that balance by April 30, 2024 and for the period of the promotion.

2. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 2/12/2024. No minimum opening balance or deposit required to open. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but customers must have a balance of $0.01 to earn interest. Fees may reduce earnings.

3. Live Oak Bank is a member of the Federal Deposit Insurance Corporation (FDIC). As a Live Oak Bank customer, your Live Oak Bank deposits are insured by the FDIC up to $250,000 per depositor for each account ownership category.

Please refer to the Account Disclosures for additional information, terms and conditions, fees and charges, and limitations for Live Oak Business Savings Accounts. Rate information is available here.