Live Oak Bank is offering competitive rates on their savings accounts for consumers and businesses. See the current rates below.
- Live Oak Bank is an online bank serving small businesses and individuals nationwide.
- They offer FDIC-insured high-yield savings and CDs that pay competitive rates.
- They are the #1 SBA 7(a) lender by dollar volume in the nation and their mission is to be America’s small business bank.
- In addition to being the nation’s top SBA lender, Live Oak offers high-yield business savings accounts and small business checking accounts built for the self-employed.
- The small business savings account can be opened and managed online for free and provides human-powered customer support.
- When you deposit your money at Live Oak Bank, you’re helping to power small businesses across America.
Updates for Live Oak Bank products:
- Update 11/1/23: Live Oak increased the rate for Personal Savings from 4.15% to 4.40% APY.
- Update 10/17/23: Rate is still same the same. Want a $600 checking bonus? Check out this offer from BMO Bank.
- Update 8/18/23: Rate for Personal Savings account increased to 4.15% APY.
- Update 8/4/23: Live Oak still boasts one of the best rates in the nation for business savings accounts.
- Update 3/23/23: The APY rate for both the personal and business savings accounts have increased from 3.50% to 4.00%.
See the Posts History below for all Live Oak Bank’s offers.
Live Oak Bank Personal & Business Savings Accounts Details
Live Oak Personal Savings
Making the most of your money is easy with a savings account from Live Oak Bank. With competitive interest rates, no monthly maintenance fees or minimum balance requirements, and an easy connection to your other bank accounts, you can enjoy a simpler way to save.
- 4.40% APY (accurate as of 11/1/23)
- No minimum balance to open, but customers must have a balance of $0.01 to earn interest.
- Open account online in minutes
- Human-powered support
- FDIC insured up to $250,000
- No online banking or monthly maintenance fees
- Available to people nationwide
- Live Oak Bank CD accounts are available with terms ranging from 6 months to 5 years.
READ MORE: GET TOP OFFERS FROM CHASE, AXOS, BANK OF AMERICA AND BMO.
Live Oak Business Savings
Big banks offer high fees and low interest rates. Enjoy a better way to save for your business. High-yield interest. No monthly maintenance fees. No minimum balance requirements.
- 4.00% APY (accurate as of 8/18/23) – one of the best rates for business savings in the country
- No online banking or monthly maintenance fees
- No minimum balance to open, but customers must have a balance of $0.01 to earn interest.
- Open account online in minutes
- Human-powered support
- Available to businesses nationwide
- FDIC insured up to $250,000
How To Open An Account
- Use the link above to start the online opening process.
- When you open an account, they will ask you for your name, address, date of birth and other information that will allow them to identify you.
- They may also ask to see your driver’s license or other identifying documents.
READ MORE: COMPARE WITH THE NATION’S BEST SAVINGS RATES
More from Live Oak:
- Earn Up To 5.40% APY: Live Oak Bank’s Best CD Account Rates (Nationwide)
- Live Oak Bank Promotions: Up to $300 Business Checking & Business Savings Bonuses (Nationwide) – Ended
- Live Oak Bank Promotions: $300 Business Savings Bonus (Nationwide) – Ended
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
