Live Oak Bank: Earn $200 Bonus with $20,000 Deposit (Open to All Customers)

Live Oak Bank, a trusted FDIC-insured online bank, is bringing back its limited-time $200 savings bonus for both new and existing customers. Deposit $20,000 or more in new funds into your Live Oak Bank online savings account by September 30, 2025, and maintain the balance for at least 60 days to qualify. The account currently offers a competitive 4.00% APY, and no direct deposit is required. As long as your deposit is new money added after September 1, you can take advantage of this offer and grow your savings faster.

Selected fine print:

New and Existing Customers:

The promotion begins on September 2nd, 2025.

Only one bonus is available per Tax Identification Number per promotional period.

Only personal savings accounts are eligible for the bonus offer. Checking accounts, certificates of deposit (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 account must be opened between September 2, 2025 and September 30, 2025 to be eligible.

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 09/30/2025 to be eligible for the bonus. If the account is not fully funded by September 30th, 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 September 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 $200 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 September 1st 2025 11:59:59pm (ET) across their existing personal savings in order to be eligible for the bonus offer.

Bonus math. This is a 1% bonus on $20,000 if you keep it there for 60 days, which makes it the equivalent of 6% APY annualized. Bonus will be paid around Day 105 and the account must be open at that time, but you only need to maintain full balance through Day 60. The bonus is on top of the standard interest rate, currently a competitive 4.00% APY as of 9/3/25.

This equivalent of roughly 10% total APY over 60 days makes it a solid offer for those with compatible balances looking for short-term place to hold their cash for a few months. Live Oak Bank seems to come and go with the competitiveness of their rates, but it’s nice that this is available to existing customers.