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:
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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 $300 Welcome Bonus
The Live Oak Bank welcome bonus is very simple to get and requires no direct deposit:
- Open a new Live Oak Bank savings account by the deadline (3/31/2026),
- Deposit $20,000 into the account by the deadline (money must be new to Live Oak Bank, cannot be a transfer from another account),
- Maintain a balance of at least $20,000 for 90 days from the date you funded,
- Profit $300!
This offer applies to both their Personal Savings and their Business Savings accounts.
This offer is available for new and existing customers too!
(Offer expires 3/31/2026)
Live Oak Business Savings – $400
Live Oak Bank has a bonus of $400 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 and 10/31/2024,
- 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.
(Offer expires 10/31/2024)
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 | $750 |
| $200,000 and above | $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:
U.S. Bank – up to $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through 6/18/2026. Member FDIC.
Get started with an initial deposit of $25 within 30 days. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.Barclays – $200
Barclays Bank will give you a $200 if you open a new savings account and deposit $30,000 within 30 days of opening the account. The savings account also pays a competitive interest rate of 3.75% APY while you wait.
BMO Checking – $400
BMO is offering a $400 bonus* when you open a BMO Checking account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. It is a very straightforward offer that is available nationwide.
*Conditions apply
Capital One 360 Checking – $250
Capital One 360 has a $250 cash bonus when you open a new account and then receive two direct deposits each of $500 or more within 75 days of account opening. Valid for new 360 Checking account customers. If you had a If you had a 360 Checking, Simply Checking, or Total Control Checking account with Capital One on or after January 1, 2022, you are ineligible.
Bank of America – up to $500 cash offer
Bank of America offers a up to $500 cash offer cash bonus if you open a new account and To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days. . It has a monthly fee that is easy to get waived.
Live Oak Bank Bonus. A good deal with bonus and regular interest combined. If interest rate does not change for 90 days, total is worth +8% annualized. And, Live Oak has mostly positive customer reviews.