Open Your Business Savings Account Today Get Started

Every business deserves the chance to
reach its goals

Live Oak Bank makes it easier with high-yield business savings products — choose an FDIC-insured3 business savings account for worry-free returns.

Features

Live Oak makes it simple to save for your business
  • No monthly maintenance fees, no minimum balance requirements
  • Interest compounded daily
  • FDIC insured3
  • Earn x the National Average2
  • Friendly customer support
  • Manage your account online or access it through our mobile app

Fees

Straight forward no-nonsense fees

Fee Type

Fee Description

Fee Amount

Account Fees

Monthly Account Fee

No Charge

Online Banking Fee

No Charge

No Charge

No Charge

Transaction Limit/Fees

Fee for each transaction after the Reg D six (6) permitted transactions per monthly statement cycle

$10 for each transaction after the six (6) permitted transaction limitation per monthly statement cycle

$10 for each transaction after the six (6) permitted transaction limitation per monthly statement cycle

Miscellaneous Fees

Stop Payment Fee

$25

Returned Item Fee

$10

Non-Sufficient Funds (NSF) Fee

$25

Legal Actions (tax levies, garnishments, etc.)

$50 minimum

Incoming Wire

$15

Outgoing Wire

$19

Dormant Account Fee

If an account has a balance less than $10.01 and no activity for 24 consecutive months, a dormant account fee will be assessed and the account will be closed. The amount of the fee will be the account balance or $10.00, whichever is less. NOTE: The dormant account fee will not overdraw the account (e.g. a dormant account with a $7.50 balance will be assessed a fee of $7.50).

$25

$10

$25

$50 minimum

$15

$19

If an account has a balance less than $10.01 and no activity for 24 consecutive months, a dormant account fee will be assessed and the account will be closed. The amount of the fee will be the account balance or $10.00, whichever is less. NOTE: The dormant account fee will not overdraw the account (e.g. a dormant account with a $7.50 balance will be assessed a fee of $7.50).

FAQs

Get answers to our most frequently asked questions
  • Are there any monthly maintenance fees or minimum balance requirements?
  • What is the process to open a Live Oak Bank Business Savings account?
  • How do I deposit funds into my Live Oak Bank Business Savings Account?
View More FAQs

About

Discover the Live Oak difference

Founded in 2008, Live Oak began lending to small businesses in niche industries. We have since grown to become one of the largest SBA lenders in the country. We strive to help our customers succeed in business and achieve their goals every day. With a fusion of extraordinary service and expertise, our dedicated team embraces a creative approach to solving problems. Beyond the traditional banking experience, we set out to be an asset to each and every one of our customers by turning obstacles into opportunities.

We are an online bank headquartered in Wilmington, North Carolina, which spares us the expense of a traditional branch network so we can offer more competitive interest rates to our customers. Our savings products offer a secure way for you to grow your money and invest in your future. To learn how we keep our customers safe and secure, visit our privacy and security page.

From our Banking Resource Center

Reviews

Hear it from our customers

Opened a savings account 6 months ago and I am more than pleased.

The whole experience has been flawless. I have not needed to speak with anyone at Live Oak Bank while depositing, transferring, or withdrawing funds! Also, they notify me monthly on the first when interest is added to the account.

Aug 9, 2019

This Bank Understands The Real World

Easy, seamless application process. These guys are in touch with reality. No complicated pointless BS.

Mar 8, 2019

Good bank

Couldn’t be any easier from typing in info, linking accts and adding my wife as co-owner. Outstanding rates, solid ratings and great service. I am a fan.

Apr 16, 2019

Easy Process.

I followed the online process to open and fund a one year CD last week and every step was very clear. I called by phone once to make certain that everything was in order and their representative “Abby” was very knowledgeable, professional, and personable and my account was quickly funded. Easy Peasy.

May 26, 2019

Contact

We are here for you

Contact a Customer Success Manager
Phone: 866.518.0286
Fax: 866.656.4611
Monday through Friday 8:00 a.m. – 8:00 p.m. ET

1. 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. You may make up to 6 withdrawals from your Live Oak Bank Savings account per statement cycle, including preauthorized, automatic and telephone transfers. Fees may reduce earnings.

2. National savings average rate courtesy of the FDIC’s Weekly National Rates and Rate Caps, as of ; average rate used is for deposits under $100,000.

3. 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.

See Disclosures for details.

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