By Jonathan Ping, originally published at My Money Blog.
(Update: Offer is back, this time for $300 for $20k with a 90 day hold. Again available to both new and existing customers depositing new funds. For existing customers, the deposits must be in addition to your balance as of September 7th, 2026. To be clear, you need to open up a *new* personal savings account through the specific link below. You can have more than one savings account. You can’t just transfer in more money as an existing customer to your existing account and expect the bonus. Thanks to reader Andrea for the tip.)
Live Oak Bank is an FDIC-insured internet bank that is focused on lending to small businesses. Their personal savings account has a limited-time offer of a $300 bonus if you deposit $20,000+ in new funds into a new online savings account by 5:00 p.m. ET on October 16th, 2026 per this special offer page and keep it there for 90 days. The current interest rate is 4.00% APY. Direct deposit is not required. Valid for both new and existing customers, as long as you are adding new money (lookback date is 9/7/26).
To be clear, you need to open up a *new* personal savings account through the specific link above. You can have more than one savings account. You can’t just transfer in more money as an existing customer to your existing account and expect the bonus.
Unlike some other deposit bonuses, the 90-day window starts when the new money hits:
Beginning on the date in September or October 2026 when the new account attains a balance of at least $20,000, if the balance remains equal to or exceeding $20,000 for 90 consecutive days, then the account will be eligible for the bonus if all other conditions are met. If all eligibility criteria are met, the $300 cash bonus will be deposited to your open, eligible account within 45 days following the expiration of the 90-day period.
Bonus math. This is a 1.5% bonus on $20,000 if you keep it there for 90 days, which makes it the equivalent of 6% APY annualized. Bonus will be paid around Day 135 (45 days afterward) and the account must be open at that time, but you only need to maintain full balance through Day 90. The bonus is on top of the standard interest rate, currently a competitive 4.00% APY as of 9/8/26.
This equivalent of roughly 10% total APY over 90 days makes it a solid offer for those with compatible balances looking for short-term place to hold their cash for a few months. Live Oak Bank seems to come and go with the competitiveness of their rates, but they’ve been strong recently and it’s nice that this is available to existing customers.
Jonathan Ping writes at My Money Blog. Read this article on their site.
