Live Oak Savings Account Review

National savings average rate courtesy of the fdic s weekly national rates and rate caps as of.

Live oak savings account review.

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. There are no monthly fees tied to the account and a low deposit amount 100 is needed to open an account. Compare its fees interest rates and features to the top savings accounts provided by online banks.

The live oak online savings account has no minimum opening deposit requirement and customers with a balance of 0 01 or more earn interest. It was established in 2008 and as of june of 2020 it had grown to 603 employees. The website interface is fine and the reps always answer the phone and are knowledgeable. You might also like.

Average rate used is for deposits under 100 000. Find compare rates now. The apys are for the. The initial funding took about four days to post to my live oak account.

This account makes it easier with safe secure high yield savings products such as an fdic insured savings account for worry free returns. Live oak bank s savings rates are 35 higher than the national average and it has an a health rating. Live oak bank is the 174 th largest bank in the nation. 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.

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. Not many customers have reviewed the mobile app in the apple or google play stores but the average review ratings so far are mediocre. About live oak bank high yield savings. The online savings account also has no monthly account.

So my account has been open and funded. The high yield savings account has a competitive yield and is available on all balances. 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. Bank of america savings account.

Live oak is an online bank with a savings account and cds. If you have had experience with any account at live oak bank please let us know in the comment section below. See how to choose the.