Earn $200 on Business Savings1

Start earning APY,2 and for a limited-time, receive a cash bonus.

Open Account

Don't Snooze on Savings

Take these three simple steps to earn a $200 cash bonus1 for your business.

Already have an account? See terms1 below to learn how you can qualify for the bonus!

1. Open a New Account

Open a Live Oak Bank business savings account by 1/13/25.

2. Fund Your Account

Deposit at least $20,000 into your account by 1/13/25.

3. Maintain Your Balance

Maintain a balance of at least $20,000 for 60 days.

Earn and save more with & APY2

Earn &x the national average APY.3

Our savings calculator shows you how our competitive interest rate grows your account over time.

Features and Benefits

High-Yield Rate

Your account will grow because we stay competitive.

FDIC Insured4

Funds are insured up to the maximum allowed by law.

Online Account Opening

Easily manage your account and add authorized signers.

Connect with QuickBooks

Manage your business finances by linking your account.

No Monthly Maintenance Fees

We don’t require you to keep minimum balance to avoid fees.

Male business owner talking on the phone about his business saving account features

Insured Cash Sweep Account

Receive FDIC insurance coverage up to $10 million through the IntraFi Network.5

Green shield icon representing minimized risk of our business checking accounts

Minimize Risk

Protect assets beyond $250,000 while earning a competitive savings rate.

Green circle icon representing no fees with our business checking accounts

No Fees

Receive extended FDIC insurance coverage5 at no extra cost to you.

Green merging icon representing consolidation relationship with our business checking

Centralized Relationship

No need to work with multiple banks when you can access additional FDIC insurance through one login at a superior rate.

Learn More

Business Savings Accounts FAQ

To ensure your account is closed properly please contact us at 866.518.0286 (Monday through Friday 8:00 a.m. – 8:00 p.m. ET).

Yes, you may add up to four additional authorized signers for the Business Savings account (for a total of five authorized signers). Authorized signers must be a U.S. citizen or Permanent Resident and listed on the Entity Authorization provided at account opening.

Deposits begin earning interest on the day the deposit is posted to your account. Please allow 1-2 business days for an incoming ACH transfer initiated through the Live Oak Bank Portal to post to your account.

Check deposits are posted to the account on the day we receive them. Interest is compounded daily and posted to your account on the last business day of the month. You must have a balance of $.01 to earn interest.

You may initiate an ACH transfer from your external bank account through the Live Oak Bank Portal. The cutoff time for incoming and outgoing ACH transfers is 4:00 p.m. ET. Please allow 1-2 business days for the funds transfer to process. For security and verification purposes, incoming transfers initiated through the Live Oak Bank Portal are held for five business days once posted to your Live Oak account.

ACH transfers initiated from an external account and sent to your Live Oak account are available immediately upon receipt.

Deposits made by check or mobile deposit will be held for up to five business days once posted to your account.

Funds sent to an external account are available at that bank within 1-2 business days. The transfer must be initiated before 4:00 p.m. ET.

  1. You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Portal and choose the ‘Transfer Funds’ option. You may transfer funds between your Live Oak accounts and your linked external accounts. Please allow 1-2 business days for the transfer to process.
  2. Mail your check to our Headquarters:
    Live Oak Bank
    Attention: Deposits
    1757 Tiburon Drive
    Wilmington, NC 28403
    * Please note we do not accept checks drawn on foreign banks, third-party checks or cash deposits. (A third-party check is a check that is signed over to an individual not named on the front of the check
  3. Deposit a check with the Live Oak Bank Mobile App. Deposit limits apply. The mobile deposit cutoff time is 4:00 p.m. ET. Deposits received after 4:00 p.m. ET will be processed on the following business day.
  4. Wire funds into your account. Log on to the Live Oak Portal for wire instructions. You must have an open account to deposit by wire. A new account cannot be opened by wire. (please click here to see our fee schedule for applicable fees).

Live Oak Bank will not accept cash deposits.

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1. Important Information about this Business Savings Bonus Offer:

Customers must meet all of the following requirements to be eligible for the $200 bonus:

New and Existing Customers:

  • Only one bonus is available per Tax Identification Number per promotional period.
  • Only business savings accounts are eligible for the bonus offer. Checking accounts, personal (consumer) accounts, CD accounts and fiduciary accounts (e.g., trusts) are not eligible for this offer. 
  • Opening of a new account will be subject to approval by Live Oak Banking Company in its sole discretion.  
  • A new Live Oak Bank business savings account must be fully funded with at least $20,000 by 11:59 p.m. Eastern Time on 01/13/2025 to be eligible for the bonus.  If the account is not fully funded by January 13th, then the account is not eligible for the bonus offer. 
  • All funding of the new business savings account must consist of funds originating from an external financial institution to qualify; deposits or transfers originating from an existing Live Oak Bank account (whether personal or business) via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer. 
  • Beginning on the date in November or December 2024 or January 2025 that the new account attains a balance of at least $20,000, if the balance remains equal to or exceeding $20,000 for 60 consecutive days, then the account will be eligible for the bonus if all other conditions are met. Please note, however, that use of Bank’s ICS Sweeps Service may cause the account balance to drop below the $20,000 minimum balance as swept funds will not be deemed to be counted toward the available balance for the purposes of the promotion.  If all eligibility criteria are met, the $200 cash bonus will be deposited to your open, eligible account within 45 days following the expiration of the 60-day period. 
  • A new account must not be closed or restricted at the time of payout in order to receive the bonus. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without notice, if fraud or other suspicious activity is suspected.
  • Any promotional amounts received may be subject to taxation.

Existing Customers:

  • In addition to the other requirements for the bonus offer, existing Live Oak Bank, customers must maintain their existing account balances (not including interest accrued but not credited to the account) at or above the end of day balance as of November 11, 2024 11:59:59pm (ET) across their existing business savings in order to be eligible for the bonus offer.

2. 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.

3. National savings average rate courtesy of the FDIC’s Weekly National Rates and Rate Caps, as of  ; average rate used is for deposits under $2,500.

4. 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.

5. 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.