Live Oak Savings Account Review

Live oak bank is the 174 th largest bank in the nation.

Live oak savings account review.

The initial funding took about four days to post to my live oak account. Live oak bank is a member of the federal deposit insurance corporation fdic. 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. 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. The national average is just 0 05. This account also has no monthly fee. 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 apys are for the. The online savings account also has no monthly account. The website interface is fine and the reps always answer the phone and are knowledgeable. About live oak bank high yield savings.

This account makes it easier with safe secure high yield savings products such as an fdic insured savings account for worry free returns. The live oak online savings account has no minimum opening deposit requirement and customers with a balance of 0 01 or more earn interest. 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. Not many customers have reviewed the mobile app in the apple or google play stores but the average review ratings so far are mediocre.

Compare its fees interest rates and features to the top savings accounts provided by. It was established in 2008 and as of june of 2020 it had grown to 603 employees. 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. So my account has been open and funded.

Live oak s high yield online savings account is a no frills account with a competitive interest rate that beats established players like ally bank and capital one 360. Live oak bank s savings rates are 35 higher than the national average and it has an a health rating.