Live Oak Bank (click start saving below) has a focus on innovation in finance and technology, they bring efficiency and excellence to the banking process. Live Oak Bank puts their customers first by providing competitive rates such has their 1.50% APY rate on savings account. Live Oak savings account is 16x the national average! Features of Live Oak savings account includes no minimum opening deposit requirement and no minimum balance required to earn your 1.50% APY rate. Live Oak Bank is FDIC insured, there is no monthly maintenance fees, interest is compounded daily, and you can open an account in minutes. Checkout Live Oak High Yield Savings Account (click the table below) for one of the best savings account anywhere.
Live Oak Bank Strengths and Weakness
| Pros | Cons |
|---|---|
| Access to your account 24/7 | No person-to-person transfers |
| Speedy response and decision making regarding your account | Only in one branch, in Wilmington, North Carolina. |
| Savings account rates up to 16x the national average | No mobile app |
| Offers transparency so you know where you are in the process | |
| High yield savings account with 1.50% APY |
Live Oak Savings Account Features:
- High Yield Savings Account 1.50% APY rate (click the link in the table above to start saving) is 16x national average
- No minimum balance or month service fees.
- Fast application process than traditional banks
- Funds are FDIC insured up to $250,000
- 24/7 access to your account
- Customer support Monday through Friday from 8:00 A.M. - 8:00 P.M. ET
Opening A Live Oak Savings Account:
To open a Live Oak High Yield Savings Account (see table above), you will need the following items:
- Funding account information
- Social security number
Live Oak only has one branch location in Wilmington, North Carolina which is why they streamline their application process on the web. There is minimal hassle and you can create an account in minutes. You may also make up to 6 withdrawals from your Live Oak Bank savings account per statement cycle.
Bottom Line
Live Oak Bank (see link in the table above) is a great online institution for people who wants a high APY rate on their savings account. You can create a high yield savings account today in mere minutes to start earning daily compounded interest. Sign up for Live Oak Bank High Yield Savings Account for 1.50% APY rate with no minimum opening deposit requirement and no monthly service fees. Click above to sign up for your Live Oak Bank Savings Account, check out CIT Bank's Savings Account and Discover Bank's Online Savings Promotion. Check out more Savings Accounts, Bank Rates, Money Market Account and more with our Best Bank Rates!