Live Oak Banking Company :
Online Savings Account - 0.60% APY

•There are no monthly maintenance fees or minimum balance requirements
• No minimum balance to open
• Maximum balance is $5 million (BestCashCow advises remaining within FDIC coverage limits).
• Make up to 6 withdrawals per statement cycle.
• May link your account with up to 3 other accounts and may transfer up to $250,000 either inbound or outbound.
• Fees charged for inbound and outbound wire transfers.
• No trust accounts.
• No ATM access.

Fee and Feature Guide

Savings Account
Interest Rate
APY 0.60%
Minimum deposit amount $0.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $0.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $0.00
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee N/A
Incoming Wires N/A
Paper Statements Yes
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking ×
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.

Reviews on Live Oak Banking Company

| Feb 28, 2021

Never really sure when interest is going to be posted to the account, otherwise it is excellent.

| Jan 27, 2021

I've been a depositor since I opened about 2 years ago when they launched and were advertiser here and everywhere. The rates are still competitive, but why can't then issue a 1099 or put it online in a timely manner like everyone else does?

| Sep 03, 2020

This is the best bank on the list. Great service, competitive rates, no problems.

| Aug 28, 2020

I've been banking with Live Oak since they first began offering online savings and CD products about 5 years ago. I've never had a problem and always received prompt service online, by phone and by message when I have a question. Their rates have come down a bit over the last several months and I could use this section to complain. Rates have fallen everywhere however, and LOB has remained very competitive. So no complaints!

| Jul 31, 2020

I opened for the rates, but stayed for the service. 5 stars for the fast email responses to any question.