1. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of . 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. 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.
3. Important Information about this Business Savings Bonus Offer.
Customers must meet the following requirements to be eligible for the $300 bonus:
- The offer is only available to new business savings customers and only one bonus is available per business customer or per authorized signer of more than one business entity. Fiduciary accounts (e.g., trusts) not eligible for this offer.
- A new Live Oak Bank business savings account must be opened and approved by 11:59 p.m. ET on 5/31/2023. The new account must be funded with at least $30,000 in new money, and funds must be collected within 15 days of account opening to be eligible towards bonus offer.
- Funds deposited by ACH, check, transfer, or wire must be drawn from an external financial institution to qualify. Deposits transfers originating from an existing Live Oak Bank Personal or Business account via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
- A balance of $30,000 or more must be maintained for at least 90 consecutive days from the date of funding.
Opening of a new account will be subject to approval by Live Oak Banking Company in its sole discretion. Only one bonus offer per customer, business or authorized signer, will be awarded. Eligibility will be limited based on account ownership.
The $300 cash bonus will be deposited to your open, eligible account within 45 days of the 90-day activity period ending. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without, notice if fraud or gaming is suspected.
The bonus payout may be subject to tax reporting. Offer cannot be combined with any other savings offer.
Offer expires on 11:59 p.m. ET on 5/31/2023.
4. Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi Cash Service and the IntraFi hexagon are service marks, and IntraFi, ICS, and CDARS are registered service marks of IntraFi Network LLC.
See Disclosures for details.