Live Oak Bank Offers $300 Bonus for New Savings Accounts
The bank says customers who deposit $20,000 in new funds by October 16 and maintain the balance for 90 days can qualify for the promotional bonus.
Live Oak Bank is offering a $300 bonus to customers who open a new Personal Savings account and meet certain deposit requirements, according to a report by CNBC.
Per the terms outlined in the report, new customers must deposit at least $20,000 in new money into the account by October 16. The bank requires that the balance be maintained for 90 days in order for the bonus to be paid out.
The offer is aimed at attracting new savings account holders during a period when banks compete for deposits through cash incentives and promotional interest rates, the report noted.
Live Oak Bank did not provide additional public comment beyond the terms described in the CNBC report. Interested customers were advised to review the official terms and conditions directly with Live Oak Bank before opening an account, as promotional offers and eligibility requirements can change or vary by customer status.
CNBC's report is part of its Select personal finance coverage, which regularly reviews bank account bonuses and financial products available to consumers.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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