You Could Be Saving More

Step one to reaching your savings goals is researching your options. Use our online savings calculator2 to see how much interest you could make by placing your money in a Live Oak savings account. We’re proud to offer a competitive interest rate so you can build your savings faster.

Still have questions? Check out our FAQs

Based on a balance:



Est. earnings for 1 year

Ready to maximize your savings? Open an Account

Convenient digital access, superior customer support



Our North Carolina-based customer success team is dedicated to providing you personalized support.

FDIC insurance

FDIC insurance3

Funds deposited with Live Oak Bank are insured up to the maximum allowed by law.

Learn how you can maximize your coverage.

No maintenance fees

No maintenance fees

Our accounts have no online banking or monthly maintenance fees.

Online account opening

Online account opening

Open and manage your account without leaving your house. Download our mobile app to access your account on the go.

Download for iOS Download for Android

Small business
makes a big impact

Did you know that when you deposit your money at Live Oak Bank, you’re helping to power small businesses across America? When your bank finances small business, so do you. As our nation’s economic engine, small businesses drive job prosperity and boost local economies. We’re proud to contribute to that growth by investing in small business owners across the country. When you bank with Live Oak, you can be proud, too.


  • How do I connect QuickBooks with my Live Oak Bank accounts?

    To connect your QuickBooks account with your Live Oak Bank accounts, log in to your QuickBooks account. Then follow these steps:

    1. Click “Connect Accounts,” and enter Live Oak Bank in the search bar
    2. You’ll be prompted to enter your QuickBooks Access ID and PIN
    3. Click on the link in the prompt to generate your unique Access ID and PIN, or click here, then sign in to your Live Oak Bank account
    4. Enter your Access ID and PIN
    5. Choose the Live Oak Bank account(s) you would like to connect

    Please note you are only allowed to generate your Access ID and PIN a maximum of five times.

  • What fees does Live Oak charge?

    Account Fees:

    • Monthly Account Fee: No Charge
    • Online Banking Fee: No Charge


    Miscellaneous Fees:

    • Stop Payment Fee: $25
    • Returned Item Fee: $10
    • Legal Actions (tax levies, garnishments, etc.): $50 minimum
    • Outgoing Wire: $19
    • Dormant Account Fee: If an account has a balance less than $10.01 and no activity for 24 consecutive months, a monthly dormant account fee will be assessed and the account will be closed.
  • What do I need to open my account?

    During the online account opening process, Live Oak Bank may ask for the following items to verify your identity:

    • Name
    • Address
    • Email Address
    • Mobile Phone Number
    • Social Security Number
    • We may request documentation for verification purposes
  • Are there any monthly maintenance fees or minimum balance requirements?

    There are no monthly maintenance fees or minimum balance requirements for the Live Oak Bank Savings account, however, the Dormant Account Fee may apply. If an account has a balance less than $10.01 and no activity for 24 consecutive months (“no activity” is defined as no withdrawals, deposits, contact with a Customer Success Manager, nor customer log-ins to the online banking website), 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. The dormant account fee will not lower the account balance beyond $0.00 and thus cannot overdraw the account.

  • What is the process to open a Live Oak Bank Savings account?

    The Live Oak Savings account can only be opened online. You may click ‘Get Started’ on the homepage and follow the prompts to begin the quick three-step application. We will ask for your personal information and external bank account information. Your information will be verified electronically. We may request documentation if additional verification is required. Once this information is confirmed, you will enter the amount of your opening deposit to schedule an ACH transfer from the verified bank account into your new savings account. The deposit will be held for five business days.

    You may add a co-owner or beneficiary to the account after completing the funding step of the application.

  • How do I deposit funds into my Live Oak Bank Savings Account?
    1. You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Bank Portal and choose the ‘Transfer Funds’ option. You may transfer funds between your Live Oak accounts and your linked external accounts. Please allow 1-2 business days for the transfer to process.
    2. Mail your check to our Headquarters:
      Live Oak Bank
      Attention: Deposits
      1757 Tiburon Drive
      Wilmington, NC 28403

      * Please note we do not accept checks drawn on foreign banks, third-party checks or cash deposits. (A third-party check is a check that is signed over to an individual not named on the front of the check

    3. Deposit a check with the Live Oak Bank Mobile App. Deposit limits apply. The mobile deposit cutoff time is 4:00 p.m. ET. Deposits received after 4:00 p.m. ET will be processed on the following business day.
    4. Wire funds into your account. Log on to the Live Oak Bank Portal for wire instructions. You must have an open account to deposit by wire. A new account cannot be opened by wire. (please click here to see our fee schedule for applicable fees).
View More FAQs

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. Fees may reduce earnings.

2. The APYs for other banks are provided by and are accurate as of 9/26/2023. The APYs are for the state of North Carolina.

See Disclosures for details.

3. National savings average rate courtesy of the FDIC’s Weekly National Rates and Rate Caps, as of ; average rate used is for deposits under $2,500.

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