High-Yield Personal Savings

Begging for your bank's attention?

We see you. We'll pay you what you deserve. We'll answer your call. Earn $3001 and 4.20% APY2 when you open a new account.

Earn what you deserve

(and then some)

Take these three simple steps to earn a $300 cash bonus.1

1. Open a New Account

Open a Live Oak Bank personal savings account by 3/31/25.

2. Fund Your Account

Deposit at least $20,000 into your account by 3/31/25.

3. Maintain Your Balance

Maintain a balance of at least $20,000 for 60 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 with live oak


Higher Returns

Earn more on your savings with our competitive interest rates.

Real People, Real Answers

Get your questions answered quickly by our US-based support team.

No More Fees

Say goodbye to monthly maintenance fees and hidden charges.

Peace of Mind

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

Start Small, Grow Big

No minimum balance required, so you can start saving today, no matter how much you have.

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 $300?1

Submit your online savings account application in minutes.

1. Important Information about this Personal Savings Bonus 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 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 03/31/2025 to be eligible for the bonus. If the account is not fully funded by March 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 February or March 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 February 2, 2025, 11:59:59pm (ET) across their existing personal savings in order to be eligible for the bonus offer.

2. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 12/9/2024. 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.