Live Oak Bank – $300 Bonus for $30,000 Deposit

When it comes to bank bonuses, they often require a direct deposit or a large deposit.

Today, I’m here to share an offer from Live Oak Bank that only requires you to make a large deposit and keep it in the account for 90 days. It’s available to new and existing customers, which is rare, and nationwide.

It’s a solid offer and if you have the cash, I don’t see any reason to pass on this. It’s a great place to park your money for a few months and get an above average interest rate for it.

Here are the details:

Table of Contents
  1. About Live Oak Bank
  2. Live Oak Business Savings – $300
  3. Live Oak Bank $200 Welcome Bonus [EXPIRED]
  4. How Does This Offer Compare?

About Live Oak Bank

Live Oak Bank is an internet based bank that works whose primary customers are small business owners but they also work with individuals. They are FDIC insured #58665 since 2008 and a State Chartered Bank.

They are digital so they work with anyone who lives in the United States – which is nice when it comes to a bank bonus!

Live Oak Business Savings – $300

Live Oak Bank has a bonus of $300 when you open up a small business savings account.

Please see full terms and disclaimers: Earn Up to $300 by Opening Savings Account | Live Oak Bank

To get $300 for the business savings account:

  • Open an account between 4/3/2023 and 5/31/2023,
  • Deposit at least $30,000 into your account within 15 days.
  • Maintain a balance of $30,000 or more for 90 days.

You must be a first-time Live Oak business savings customer to be eligible. There are no monthly fees on either of these accounts so it’s a good option for relatively new businesses too.

Learn more about this offer

(Offer expires 5/31/2023)

Live Oak Bank $200 Welcome Bonus [EXPIRED]

Editor’s Note: As of March 2022, the consumer deposit offer is no longer available. We will update this post whenever this offer returns – until then, our post on the best bank bonuses and promotions has other offers that might interest you or click here to sign up for our email newsletter and get notified of new bank promotions.

The Live Oak Bank welcome bonus is very simple to get and requires no direct deposit:

  1. Open a new Live Oak Bank savings account by the deadline (3/31/2022),
  2. Deposit $25,000 into the account by the deadline (money must be new to Live Oak Bank, cannot be a transfer from another account),
  3. Maintain a balance of at least $25,000 for 90 days from the date you funded,
  4. Profit $200!

This offer applies to both their Personal Savings and their Business Savings accounts.

This offer is available for new and existing customers too!

Get $200 from Live Oak Bank

(Offer expires 3/31/2022)

How Does This Offer Compare?

There aren’t a lot of no direct deposit bank bonus offers out there but the closest comparison is probably Citi, which offers a higher bonus for a little less (and higher tiers):

Minimum Deposit
And Minimum Balance
Cash Bonus
$30,000 – $199,999$500
$200,000 – $299,999$1,500
$300,000 and above$2,500

But Live Oak Bank offers this to existing customers, which is a game changer. I don’t see a reason not to do this because if they bring the offer back later, you can do it again too. Best of all, you get the bonus plus you earn interest on the account while your money is sitting there.

Here are some other offers:

BMO Relationship Checking – $400

BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.

*Conditions apply

👉 Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH124 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

👉 Click here to learn more

Bank of America – $200 Bonus Offer

Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.

👉 Click here to learn more

Chase Total Checking® – $300

Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

👉 Click here to learn more

HSBC Premier Checking – up to $4,000

HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

👉 Click here to learn more

Other Posts You May Enjoy:

CIBC Promotions: $200 for Checking Account

CIBC Bank USA is the US-based bank out of Chicago and a subsidiary of a Canadian financial institution. They offer a nice bonus on an online savings account that does not require a direct deposit.

About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

As Seen In: