Enjoy the ease and accessibility of an FDIC-insured2, online bank with unparalleled customer service and these features.
We don’t charge you to keep your money growing strong.
Each depositor is insured up to $250,000.
We make the process easy and efficient.
Your money grows with us, no matter how much you have.
Easily add or update through online banking.
There is no longer a limit to the number of transfers you can make from your Live Oak Bank savings account. You can move up to $250,000 per transfer day.
You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Portal, select Transfer Funds, then select the ‘from’ account, ‘to’ account and amount of the transfer. Your ACH should post to your external account within 1-2 business days. The ACH cutoff time is 5:00 p.m. ET.
The Live Oak Savings account does not include checks or a debit card.
Deposits begin earning interest on the day the deposit is posted to your account. Please allow 1-2 business days for an incoming ACH transfer initiated through the Live Oak Bank Portal to post to your account. Check deposits are posted to the account on the day we receive them. Interest is compounded daily and posted to your account on the last business day of the month. You must have a balance of $.01 to earn interest.
You may initiate an ACH transfer from your external bank account through the Live Oak Bank Portal. The cutoff time for incoming and outgoing ACH transfers is 5:00 p.m. ET. Please allow 1-2 business days for the funds transfer to process. For security and verification purposes, incoming transfers initiated through the Live Oak Bank Portal are held for five business days once posted to your Live Oak account.
ACH transfers initiated from an external account and sent to your Live Oak account are available immediately upon receipt.
Deposits made by check or mobile deposit will be held for up to five business days once posted to your account.
Funds sent to an external account are available at that bank within 1-2 business days. The transfer must be initiated before 5:00 p.m. ET.
You may contact a Customer Success Manager at 866.518.0286 (Monday through Friday 8:00 a.m. – 8:00 p.m. ET).
1. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of 11/1/2023. No minimum opening balance or deposit required to open. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but customers must have a balance of $0.01 to earn interest. You may make up to 6 withdrawals from your Live Oak Bank Savings account per statement cycle, including preauthorized, automatic and telephone transfers. Fees may reduce earnings.
2. Live Oak Bank is a member of the Federal Deposit Insurance Corporation (FDIC). 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.