FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Live Oak Bank High-Yield Savings Account

Finally, the Rate You Deserve. 4.20% APY1 Plus $300 Bonus2

When you open a high-yield savings account, you'll earn a limited-time cash bonus offer2. FDIC insured3 and no account fees while earning one of the best rates in market.

 Limited-time $300 cash bonus offer2

 FDIC insured3 — protected, giving you peace of mind

 Competitive rate earning 10x the national average4

 No monthly maintenance fees or minimum balance to open

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Your Cash Bonus2 is 3 Steps Away

1. Open a New Account

Open a Live Oak Bank personal savings account by 5/16/25.

2. Fund Your Account

Deposit at least $20,000 into your account by 5/16/25.

3. Maintain Your Balance

Maintain a balance of at least $20,000 for 60 days.

Already have an account? See terms2 below to learn how you can qualify for the bonus! 

Female on her ipad using her high yield savings account and view of the live oak bank app

We value your money and your time


Unmatched Customer Service

Get answers in under a minute. 90% of calls resolved on the first try.

Consistent High Rates

No bait and switch. Just reliable, top-tier returns.

Security You Can Trust

We defended $5.5M in fraud attempts this year, keeping your money safe.

FDIC Insured3

Your deposits are protected, giving you peace of mind.

Recognized for Excellence

Live Oak is consistently recognized for our superior customer support and high-yield savings accounts.

 

"Best Overall Business Savings Account"

— NerdWallet


"Best Online Savings Account of 2025"

— Wall Street Journal's BuySide


"Best for Earning a Competitive Business Savings APY"

— Bankrate

 

Don't just take it from us, our customers say it best:

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?2

Submit your high-yield savings account application online in minutes,
and earn the competitive rate you deserve.

1. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 4/14/2025. 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.

2. 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:

  • The promotion begins on April 14th, 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 April 14, 2025 and May 16, 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 05/16/2025 to be eligible for the bonus.  If the account is not fully funded by May 16th, 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 April or May 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  April 13th 2025 11:59:59pm (ET) across their existing personal savings  in order to be eligible for the bonus offer.

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.

4. National savings average rate courtesy of the FDIC’s Weekly National Rates and Rate Caps, as of 3/17/2025; average rate used is for deposits under $2,500.

See disclosures for details.