Limited-Time Offer for Personal Savings

Don't be a savings school dropout, Earn a $200 cash bonus1

Graduate and earn $2001 plus 4.30% APY2 with a Live Oak Bank personal savings account.

Open Account

it's not rocket science, it's just smart saving

Take these three simple steps to earn a $200 cash bonus.1

1. Open a New Account

Open a Live Oak Bank personal savings account by 10/31/24.

2. Fund Your Account

Deposit at least $20,000 into your account by 10/31/24.

3. Maintain Your Balance

Maintain a balance of at least $20,000 for 90 days.

Already have an account? See terms1 below to learn how you can qualify for the bonus! 

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the perks of saving


Keep More of Your Money

Benefit from no monthly maintenance fees, and watch your money grow faster with a competitive savings rate.

Peace of Mind

Your deposits are FDIC-insured3  up to the maximum allowed by law, ensuring your money is safe and secure.

Personalized Service, Online Convenience

Open and manage your account online. Need help? Our North-Carolina-based team is just a call away.

You Can Start Small

There are no minimum balance requirements, so you can start growing your savings no matter how small your initial deposit.

Plan for the Future

Easily manage beneficiaries online to ensure your savings are passed on according to your wishes.

meet live oak bank

Hi, we're Live Oak. Founded in 2008, our founders set out to revolutionize banking. Want to learn about our fresh approach to finance? Let's dive in. 

Ready to Earn $200?1

Submit your online savings account application in minutes.

Get Started

1. Important Information about this Personal Savings Bonus Offer:

Customers must meet all of the following requirements to be eligible for the $200 bonus:

New and Existing Customers:

  • Only one bonus is available per person.

  • 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 10/31/2024 to be eligible for the bonus. If the account is not fully funded by October 31st, 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 October 2024 that the new account attains a balance of at least $20,000, if the balance remains equal to or exceeding $20,000 for 90 consecutive days, then the account will be eligible for the bonus if all other conditions are met. If all eligibility criteria are met, the $200 cash bonus will be deposited to your open, eligible account within 45 days following the expiration of the 90-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.

  • Live Oak Bank employees do not qualify.

  • 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 September 30th 2024 11:59:59pm (ET) across their existing personal savings accounts to be eligible for the bonus offer.

2. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 10/2/2024. 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.

See disclosures for details.