Live Oak Bank
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Personal Savings: 4.10% APY(Rank 38 out of 74 tracked HYSAs)
Minimum Deposit: $0 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Wilmington, North Carolina
Founded: 2008
Affiliation: Subsidiary of Live Oak Bancshares, Inc. (NYSE: LOB)
BBB Rating: A-
App Store Rating: 2.5/5
Google Play Rating: 3.2/5
Website: Visit Live Oak Bank
Our Take on Live Oak Bank
Highlights
- Current APY of 4.10% with no change from 30 days ago.
- No minimum deposit or balance required for the Personal Savings account.
- No monthly maintenance fees for the account.
- BBB rating of A- indicates good trustworthiness.
Considerations
- App Store rating is low at 2.5.
- Google Play rating is also low at 3.2.
- Lacks physical branches, being online-only.
- Direct deposit is not required but may limit some users.
Summary: Live Oak Bank offers a competitive APY of 4.10% for its Personal Savings account, with no minimum deposit or maintenance fees. However, it operates online only, lacks physical branches, and has low app ratings, which may affect user experience. The bank's A- BBB rating indicates a solid reputation, but potential customers should consider the ratings and online-only nature before proceeding.
Savings Account
Savings Account Offered by Live Oak Bank
| Feature | Personal Savings |
|---|---|
| APY | 4.10% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $0.01 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
No deposit agreement summary available for this bank. | |
Calculate Savings for Live Oak Bank
All calculations are based on APY.
Personal Savings (APY: 4.10%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
Effective APY: 4.10% (based on your deposit and contributions)
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Live Oak Bank Savings Rates Over Time
Historical APY Insights
| Metric | Personal Savings |
|---|---|
| Latest APY | 4.10 % |
| Trend | Sideways |
| Slope (bps/mo) | -2.7 |
| Rate Changes / Mo | 0.20 |
| Days Since Last Change | 51 |
| High (-5 m) | 4.20 % |
| Low (-5 m) | 4.10 % |
| Draw-down from High | -2.4 % |
| Volatility (CV) | 0.011 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 151 days.
- Low (-5 m)
- Lowest APY in the last 151 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Live Oak Bank's Savings Account
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| Feature | Live Oak Bank | Select a bank... |
|---|---|---|
| Product | Personal Savings | N/A |
| APY | 4.10% (as of 6/20/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0.01 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |