Available nationwide, Live Oak Bank is offering you 4.00% APY on your funds for opening a new Business Savings Account.
Update 4/15/24: If you have a business and have excess funds sitting in your business checking account earning little to no interest, Live Oak Bank is offering a competitive 4% rate on their business savings account now along with a $300 bonus.
Editor’s Note: Interested in a personal savings account? See our review on the Live Oak Bank Savings account with a competitive rate.
Live Oak Bank Business Savings Account Summary
Here is your opportunity to earn a high interest rate on your funds. Open a new account to start earning interest and get started today!
- What you’ll get: 4.00% APY Rate
- Availability: Nationwide
- Expiration: None
- Credit Inquiry: Hard Pull or Soft Pull? Let us know
- Credit Funding: Unknown
- Opening Deposit Requirement: None (Any)
- Direct Deposit Requirement: No
- Monthly Service Fee: None
- Early Termination Fees: None listed
(FDIC Insured)
Account Benefits
- FDIC Insurance Up to Maximum Allowed by Law
- No Monthly Maintenance Fees
- Interest Compounded Daily
- Open an Account in Minutes
Account Requirements
Simply open a new Live Oak Bank Business Savings Account and start earning the high interest rate!
Avoid Monthly Fees
- Live Oak Bank Business Savings Account: No monthly fees
Live Oak Bank Business Savings $300 Bonus (Expired)
For a limited time, earn a $300 bonus when you open a new business savings account with qualifying activities.
- Earn $300 when you open a new Live Oak business savings account between 4/3/23 and 5/31/23.
- Deposit at least $30,000 into your savings account within 15 days of opening the account and no later than 5/31/23.
- Maintain a balance of $30,000 or more for 90 consecutive days and watch your business savings grow.
- Must be a first-time Live Oak business savings customer to be eligible for this bonus offer. See full terms and conditions.
Author’s Verdict
No doubt that this account offers a competitive rate, but prior to opening this account, be sure that this incurs only a soft pull.
Otherwise, there are better accounts with the same rate or better without a hard pull.
If you’re unfamiliar with what hard pull and soft pulls are and how it can affect you, see our hard pull vs soft pull post here.
Let us know about your thoughts and experience with this account!
For more, see our list of the latest promotions from Live Oak Bank.
Be sure to check back on BankDealGuy for more bank deals and/or for more bank rates!
Linda Faria says
My name is Linda Faria. I am a member and Treasurer of the Woman’s Club of Lodi, California. We are looking for a bank to invest over $71,000.00, and receive the best interest rate possible. We are a Non-Profit organization and support various charitable organization in our area, plus maintain our Historical Building that was build in 1923. The interest rates here in Lodi banks are still very low, so we are inclined to do business with an online source. I have a board meeting coming up on Monday May 9th and would like to report to them my findings.
We do have a member that has banked with you for a number of years, and gave us this banks recommendation. What is your current interest rate to date. I have seen various ones posted, %.50, %.60 etc. Thank you, in advance, for any additional information we should know about banking with your company.
Sincerely, Linda Faria, Treasurer of the Woman’s Club of Lodi, California