Live Oak Bank Promotion: Earn a $300 Personal Savings Account Bonus (Nationwide) – Ends 1/13/25

Earn a $300 bonus with Live Oak Bank’s Personal Savings Account by maintaining a $20,000 balance. Promotion runs from 11/12/24 to 1/13/25. Limited-time offer.

Introduction: Live Oak Bank Promotion

Live Oak Bank is offering a limited-time promotion where you can earn a $300 bonus by opening a Personal Savings account and maintaining a $20,000 balance over 60 days. With attractive terms and a straightforward process, this promotion is an easy way to grow your savings while earning a solid bonus!

Here’s everything you need to know about Live Oak Bank, their latest savings promotion, and how to make the most of this opportunity.

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Key Takeaways

• Promotion Period: November 12, 2024 to January 13, 2025.
• Bonus: $300 payout after maintaining a $20,000 balance for 60 days.
• Eligibility: Open to new customers with new funds, with an account funded from an external source.
• Payout Window: Bonus will be paid within 45 days after the 60-day balance requirement is met.
• Available Nationwide: Live Oak Bank is an online bank serving small businesses and individuals nationwide.

What is Live Oak Bank?

Live Oak Bank is a digital-first bank that specializes in offering high-yield savings products and small business loans. Founded in 2008, the bank is headquartered in Wilmington, North Carolina, and is known for its focus on helping small businesses thrive. Live Oak Bank operates entirely online, which allows them to offer competitive rates and lower fees compared to traditional banks.

For personal banking customers, Live Oak Bank provides some of the highest APYs (Annual Percentage Yields) on savings accounts in the market. This makes it a great option for those looking to maximize their returns on savings without the hassle of fees or minimum balance requirements for basic savings accounts.

Live Oak Bank’s Personal Savings Promotion Details

Starting November 12, 2024 and running through January 13, 2025, Live Oak Bank is offering a $300 bonus to new customers who open a Personal Savings account and maintain an end-of-day balance of at least $20,000 over a 60-day period.

Here’s how it works:

• Eligibility: Open to new and existing customers who open a new Live Oak Personal savings account funded with new funds from an external source. Existing Customers must maintain existing balances in their existing savings accounts.
• Minimum Balance: You must deposit a minimum of $20,000 into your new Personal Savings account. This balance must be maintained over a 60-day period to be eligible for the bonus.
• Bonus Payout: Once you’ve met the balance requirement and holding the balance for 60 consecutive days, Live Oak Bank will process your bonus within 45 days of meeting these terms.
• Fund Source: The funds used to open the account must come from an external source (not transferred from another Live Oak Bank account).
• Bonus Limit: Only one bonus is available per tax identification number per promotional period.

How to Qualify for the $300 Bonus

Getting the bonus is relatively simple. Here are the exact steps you need to follow to earn the bonus and maximize the promotion:

1. Open a New Account: Between November 12, 2024 to January 13, 2025, open a new Live Oak Bank Personal Savings account. Make sure this is a new account; existing customers must maintain their current balances and cannot use the same funds for the promotion.
2. Fund Your Account: Deposit a minimum of $20,000 into your new account. The funds must come from an external source.
3. Maintain the Balance: Keep the $20,000 balance (or higher) in your account for 60 consecutive days.
4. Wait for the Bonus: After the 60-day period, Live Oak Bank will pay out the $300 bonus within 45 days.

Why Choose Live Oak Bank?

Aside from this attractive promotion, Live Oak Bank offers competitive interest rates on its savings products. Here are some reasons why you should consider Live Oak Bank:

• High APYs: Live Oak Bank consistently offers some of the highest interest rates on savings accounts, helping you grow your money faster than you would with a traditional bank.
• No Maintenance Fees: The bank operates entirely online, which allows them to cut down on operating costs. These savings are passed on to you, meaning no maintenance or service fees.
• Easy Account Management: Since Live Oak Bank is a digital bank, you can manage your savings account entirely online or through their mobile app. This makes it convenient to check your balance, transfer funds, or monitor your savings progress.

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How to Maximize Your Bonus

To make the most out of Live Oak Bank’s $300 bonus, here are a few tips:

• Open Your Account Early: The earlier you open your account within the promotion window, the sooner you can start earning interest and working toward your bonus.
• Use External Funds: Remember that the money you use to open your account must come from an external source. Consider transferring funds from a separate checking or savings account you hold at another bank.
• Business and Personal Accounts: Only one bonus is available per tax identification number per promotional period.

Our Take

Live Oak Bank’s $300 bonus promotion is a fantastic opportunity for anyone looking to grow their savings. The bank’s high interest rates and low fees make it an excellent option for storing your money, and this limited-time bonus adds even more value. If you have the funds available to meet the $20,000 balance requirement, this promotion is a no-brainer! Just make sure to open your account before the expiration date and maintain your balance for 60 days to qualify.

If you’re ready to boost your savings and earn a $300 bonus, consider opening a Live Oak Bank Personal Savings account today!

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