Live Oak Bank

Last Updated: 7/30/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

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Quick Views

Personal Savings: 4.10% APY(Rank 37 out of 79 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 7/21/2025)

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% is competitive for a savings account.
  • No maintenance fees or minimum balance requirements.
  • BBB rating of A- indicates good trustworthiness.
  • Online-only banking offers convenience.

Considerations

  • App Store rating is only 2.5, indicating user dissatisfaction.
  • Google Play rating is 3.2, suggesting mixed reviews.
  • No branches available for in-person service.
  • Direct deposit is not required but may limit account access.
Summary: Live Oak Bank offers a high-yield Personal Savings account with a competitive APY of 4.10% and no maintenance fees. However, it lacks physical branches and has low app ratings, which may deter some users. With a BBB rating of A-, it shows a solid level of trustworthiness. The absence of a direct deposit requirement could limit some potential customers, but the account remains accessible for online banking.

Savings Account

Savings Account Offered by Live Oak Bank

FeaturePersonal Savings
APY
4.10% (as of 7/30/2025)
APY TrendStable for the last quarter
Minimum Deposit$0
Minimum Balance for APY$0.01
FDIC-insured
Yes
Online OnlyYes
Bundled Account
No
Direct Deposit Required
No
Compound Frequency
Daily
Maintenance Fee$0
EligibilityUnited States
Sponsored Link

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: $1,609.3 (10.31%)
  • Total contributions: $13,000 (83.28%)
  • Initial deposit: $1,000 (6.41%)

Your total balance

$15,609.30

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

MetricPersonal Savings
Latest APY4.10 %
TrendSideways
Slope (bps/mo)-2.4
Rate Changes / Mo0.16
Days Since Last Change90
High (-6 m)4.20 %
Low (-6 m)4.10 %
Draw-down from High-2.4 %
Volatility (CV)0.012
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 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 (-6 m)
Highest APY in the last 189 days.
Low (-6 m)
Lowest APY in the last 189 days.
Draw-down from High
How far today sits below the 6-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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  • American Express - 3.50% APY
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  • BMO Alto - 3.50% APY
  • Bread Savings - 4.25% APY
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  • Chase Bank - 0.01% APY
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  • CIT Bank - 0.25-4.00% APY
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  • EverBank - 4.30% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
  • Flagstar Bank - 4.00% APY
  • FNBO Direct - 3.25% APY
  • Forbright Bank - 4.25% APY
  • FVCbank - 4.35% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.20-4.20% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • My Banking Direct - 4.30% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.20% APY
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  • Pibank - 4.60% APY
  • PNC - 3.95% APY
  • Poppy Bank - 4.25% APY
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  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
  • Primis Bank - 4.20% APY
  • Quontic Bank - 3.75% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.12% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.15% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.30% APY
  • Varo Bank - 2.50-5.00% APY
  • Wells Fargo - 0.05-2.51% APY
  • Western Alliance Bank - 4.30% APY
  • Zynlo Bank - 4.35% APY
FeatureLive Oak BankSelect a bank...
ProductPersonal SavingsN/A
APY
4.10% (as of 7/30/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0.01N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A

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