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)

Deposit Insurance: FDIC Cert # 58665

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

Feature	Personal Savings
APY	4.10% (as of 7/30/2025)
APY Trend	Stable for the last quarter
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
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Live Oak Bank

All calculations are based on APY.

Savings Product:

Personal Savings (APY: 4.10%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

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

Metric	Personal Savings
Latest APY	4.10 %
Trend	Sideways
Slope (bps/mo)	-2.4
Rate Changes / Mo	0.16
Days Since Last Change	90
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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Feature	Live Oak Bank	Select a bank...
Product	Personal Savings	N/A
APY	4.10% (as of 7/30/2025)	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