Update: The offer has returned! It’s once again available for existing customers making new deposits. Special thanks to reader David for the tip.
Live Oak Bank, an FDIC-insured online institution, specializes in lending to small businesses. They are currently offering a $200 bonus for customers who deposit $20,000 or more in new funds into their online savings account by January 30, 2026. This offer can be accessed through a special offer page and requires the funds to remain in the account for 60 days. The existing interest rate is 3.80% APY. Direct deposit is not a requirement. This promotion is valid for both new and current customers, provided that you are depositing new funds (with a lookback date of January 4, 2026).
Key details are as follows:
Eligibility for New and Existing Customers:
The promotion starts on January 5, 2026.
Only one bonus is allowed per Tax Identification Number during the promotional period.
The bonus is only applicable to personal savings accounts; checking accounts, CD accounts, and fiduciary accounts (e.g., trusts) do not qualify.
The opening of a new account is subject to approval by Live Oak Banking Company at their discretion.
A new account must be opened between January 5 and January 30, 2026, to qualify.
To be eligible for the bonus, your new Live Oak Bank personal savings account must be funded with a minimum of $20,000 by 11:59 p.m. Eastern Time on January 30, 2026. If the account is not fully funded by this date, it will not be eligible for the bonus.All funding for the new personal savings account must come from an external financial institution. Transfers or deposits from existing Live Oak Bank accounts, whether personal or business, do not qualify for this bonus.
If your new account balances at least $20,000 on a specified date in January 2026, and maintains that balance for 60 consecutive days, you will qualify for the bonus as long as all other conditions are met. If eligible, the $200 bonus will be deposited into your account within 45 days after the 60-day period ends.
Your account must remain active and unrestricted at the time of the bonus payout to receive the funds. Live Oak Bank reserves the right to revoke the bonus offer from any customer if fraudulent or suspicious activity is detected, without prior notice.
Please note that any promotional amounts received may be subject to taxation.
For Existing Customers:
In addition to the usual requirements for the bonus, current Live Oak Bank customers must maintain their existing account balances (excluding interest accrued but uncredited) at or above the end-of-day balance as of January 4, 2026, at 11:59:59 p.m. ET to qualify for this offer.
Bonus Calculation: This bonus represents a 1% return on a $20,000 deposit if held for 60 days, effectively annualizing to approximately 6% APY. The bonus will be credited around Day 105, and the account must remain open at that time, though maintaining the full balance is only essential through Day 60. The bonus is in addition to the standard interest rate, which is currently a competitive 3.80% APY as of January 6, 2026.
In summary, this totals about 9.80% APY over the 60-day period, making it an attractive offer for those with the suitable balance seeking a short-term savings solution. Live Oak Bank’s rates can fluctuate, but it’s great to see this opportunity available for existing customers.
