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We’re all saving for someone or something

Live Oak Bank makes it easier with safe, secure, high-yield savings products — choose an FDIC-insured3 Savings Account for worry-free returns.

Benefits

What are you waiting for?

  • Earn 18x the National Average
  • FDIC Insurance Up to Maximum Allowed by Law
  • No Monthly Maintenance Fees
  • Interest Compounded Daily
  • Secure Electronic Statements

Rates

Make the most of your money 4

Based on a balance:

Bank

APY

Est. earnings for 1 year

Ready to maximize your savings? Open an Account Today

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

What you need to know

  • What do I need to open my account?
  • Are there any monthly maintenance fees or minimum balance requirements?
  • What is the process to open a Live Oak Bank Savings account?
  • How do I deposit funds into my Live Oak Bank Savings Account?
View More FAQs

About

How we are different

Live Oak Bank is a digitally focused, FDIC-insured bank serving customers across the country. We were founded in 2008 and are headquartered in Wilmington, NC. We lend to small businesses in niche industries and are one of the largest SBA lenders in the country.

We are a North Carolina-chartered bank and we offer both personal and business Certificates of Deposit and Savings accounts. Our safe, secure high-yield savings products are some of the most competitive in the country.

Our only branch and customer service team is located in Wilmington, NC. Without the expense of an extensive branch network, we can offer higher and more competitive interest rates for our customers.

We are a publicly traded company and you can visit our investor page for further information.

To learn how we keep our customers safe and secure, visit our privacy and security page.

  • FDIC INSURED
    Nationwide high-yield savings products
  • Approximately 6,100 LOANS originated comprising ~$7.2 BILLION since inception (2008)
  • NATIONAL LENDING FOOTPRINT
    lending footprint with highest loan volume in CA, TX and FL
  • BEST BANK TO WORK FOR
    Voted #1 four years in a row by American Banker Magazine (2014, 2015, 2016, 2017)
  • $1.9 BILLION YTD loan originations as of December 31, 2017
  • LESS THAN 1%
    Default rate remains one of the lowest in the nation
  • 2nd LARGEST SBA LENDER in the Country (Source: SBA 100 Most Active SBA 7(a) lenders by lending volume in FY 2017)
  • ~540 BANCSHARES EMPLOYEES as of December 31, 2017
  • MONO-LINE FOCUS supported by domain expertise enables us to play a consultative role with the client during the financing process and bring value-added perspective throughout our relationship

From our Banking Resource Center

APY

What is APY and How Is It Different From APR?

Read more
FDIC Insurance

Not all banks are created equal, FDIC Insurance matters

Read more
maximizing FDIC insurance

Maximizing FDIC Insurance: Get the max out of your coverage

Read more
beneficiaries

What Is The Difference Between a Joint Owner vs. Beneficiaries?

Read more
See All Banking Resources

Reviews

Hear it from our customers

Highest APY Online savings account.

Live oak provides a feature-rich, modern banking experience for the savvy customer who wants the highest possible APY. If you want someplace to store some cash and not lose all of it towards inflation all the while dealing with a fresh and modern app and website, Live oak is probably what you’re looking for.

Apr 24, 2018

OUTSTANDING!

By far the easiest and fastest process to open a CD I have ever encountered. Easy input, no deposits back and forth, great communication each step of the way. As long as their rates remain competitive, I’m a customer. Great Job!

Feb 14, 2018

Good Rate!

They have raised their rate twice now! It was 1.40% when I signed up like (2) months ago, now it is 1.50%. Good customer service and nice website. I highly recommend this account for savings!

Dec 14, 2017

Amazing Bank

I opened an account less than a month ago and needed (unexpectedly) to pull most of my money out. I called and got personal EXCELLENT help and they exceeded their promises. I have accounts with several other banks and had to call all of them for the same help. LiveOakBank was TOPS in responsiveness and help. I will continue to do business (and recommend them to everyone) due to their amazing website, ease of use, helpfulness, and delivery. I can’t say enough good about them!

Oct 12, 2017

Simple Process, Best Rate

The setup and transfer process was very easy, and you can get up with someone immediately if you have a question; A real, live person, that speaks English at that. Savings account rate is the highest in the country, so, since they’re FDIC insured for up to $250K, it’s a no-brainer.

Aug 30, 2017

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

Meet the Team  

1. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 5/9/2018. 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.
See Disclosures for details.

2. National statement savings average rate courtesy of Bankrate.com’s 2018 Passbook & Statement Savings Study, as of 4/11/2018; survey is compiled semi-annually in April and October.

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.

4. The APYs for other banks are provided by mybanktracker.com and are accurate as of 6/12/2018. The APYs are for the state of North Carolina.