Live Oak Bank – $200 Bonus for $25,000 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 Bank $200 Welcome Bonus
  3. 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 Bank $200 Welcome Bonus

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
$15,000 - $49,999$300
$50,000 - $199,999$700
$200,000 or more$1,500

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:

⭐Citi Priority Account – $300, $700, or $1,500

Citi Priority is offering $300, $700, or $1,500 bonus when you open an account by 7/17/2022. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.

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 WH222 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

Chase Total Checking® – $200

Chase Bank will give you $200 when you open a Total Checking account and set up direct deposit 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

SoFi Money – up to $300

SoFi Money will give you up to $300 if you open an account and make direct deposits of at least $1,000. The bonus will be based on the total amount of those direct deposits in a 30-day evaluation period.

Click here to learn more

HSBC Premier Checking – $450

HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

Click here to learn more

Huntington Bank – up to $300

If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $300 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region.

Click here to learn more

TD Bank – $300 or $150

TD bank has two bank offers for checking accounts and both are fairly easy to attain. For example, get $300 when you open a TD Beyond Checking account and receive direct deposits of $2,500 or more within 60 days of opening your account.

Click here to learn more

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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.

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