Live Oak Savings Account Review

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Live oak savings account review.

The live oak online savings account has no minimum opening deposit requirement and customers with a balance of 0 01 or more earn interest. Not many customers have reviewed the mobile app in the apple or google play stores but the average review ratings so far are mediocre. Learn all about the high yield savings account offered by live oak bank. This account makes it easier with safe secure high yield savings products such as an fdic insured savings account for worry free returns.

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. Compare its fees interest rates and features to the top savings accounts provided by online banks. The high yield savings account has a competitive yield and is available on all balances. The website interface is fine and the reps always answer the phone and are knowledgeable.

About live oak bank high yield savings. National savings average rate courtesy of the fdic s weekly national rates and rate caps as of. The initial funding took about four days to post to my live oak account. Live oak is an online bank with a savings account and cds.

The online savings account also has no monthly account. So my account has been open and funded. It was established in 2008 and as of june of 2020 it had grown to 603 employees. Average rate used is for deposits under 100 000.

If you have had experience with any account at live oak bank please let us know in the comment section below. Live oak bank s savings rates are 35 higher than the national average and it has an a health rating. 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 is the 174 th largest bank in the nation.

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. Live oak bank is a member of the federal deposit insurance corporation fdic. There are no monthly fees tied to the account and a low deposit amount 100 is needed to open an account. See how to choose the.

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. Find compare rates now. Powerhouse bank in the south midwest.