Live Oak Savings Account Review

Live oak bank savings account review learn all about the high yield savings account offered by live oak bank.

Live oak savings account review.

Live oak is an online bank with a savings account and cds. Live oak bank was founded in 2008 and now offers savings rates that are 19x the national average and they boast an a health rating. Live oak bank s savings account has a 0 70 interest rate that is higher than at most traditional brick and mortar banks. 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.

The national average is just 0 05. Live oak bank s savings rates are 35 higher than the national average and it has an a health rating. It was established in 2008 and as of june of 2020 it had grown to 603 employees. Compare its fees interest rates and features to the top savings accounts provided by.

Live oak bank is the 174 th largest bank in the nation. The online savings account also has no monthly account. Live oak bank is a nationwide bank that is offering a 1 80 apy rate for all savings account which is 20x the national average. I was told by a rep at live oak that pushing money from a external bank is faster 2 3 days compared to 4 5.

The live oak online savings account has no minimum opening deposit requirement and customers with a balance of 0 01 or more earn interest. This account makes it easier with safe secure high yield savings products such as an fdic insured savings account for worry free returns. About live oak bank high yield savings. This account also has no monthly fee.

Not many customers have reviewed the mobile app in the apple or google play stores but the average review ratings so far are mediocre. Below is all the information you need to earn 1 80 apy rate on your funds when you open a live oak bank savings account see the offer table below and click on start saving here s your chance to earn a rate that s top of the market. The apys are for the. Live oak bank is a member of the federal deposit insurance corporation fdic.

Sure live oak doesn t have a checking account as part of its banking package but the apy on the savings account may make up for it. The initial funding took about four days to post to my live oak account.