Last Updated: 01/14/2026
Live Oak Bank High-Yield Savings Account
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Last Updated: 01/14/2026
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Highlights
APY (Annual Percentage Yield)
3.80%(Verified 01/06/2026)
Minimum Opening Deposit
Starting at $1
Minimum Balance to Earn APY
$0.01
Live Oak Bank High-Yield Savings Account Review
Live Oak Bank High-Yield Savings Account is offered by Live Oak Bank, a bank founded in 2008 and based in , . Live Oak Bank are available in 50 states,Puerto Rico, and Washington, DC.
Key Takeaways
- Earn up to $1,500 in cash bonuses. Start your savings journey this January with promo code HEADSTART — available for new customers only.
- High yield savings. This account offers an annual percentage yield of up to 3.80%, which is much higher than the average interest rate for a savings account.
- Small minimum initial deposit. You only need $1 to open an account.
Live Oak Bank Pros & Cons
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Live Oak Bank FAQ
Are savings accounts from Live Oak Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Live Oak Bank offer a signup bonus?
Yes, Live Oak Bank offers a signup bonus.
Earn up to $1,500 in cash bonuses. Start your savings journey this January with promo code HEADSTART — available for new customers only.
What is the minimum initial deposit for Live Oak Bank?
The minimum deposit to open a Live Oak Bank is $1.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Live Oak Bank High-Yield Savings Account offer?
Live Oak Bank offers an APY of 3.80% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Live Oak Bank charge?
What features and perks does Live Oak Bank offer?
This savings account includes the following features:
- Mobile Banking Services - Live Oak Bank allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Live Oak Bank?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Live Oak Bank?
The customer support email for Live Oak Bank is info@liveoakbank.com.
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 8:00PM
Tuesday
8:00AM - 8:00PM
Wednesday
8:00AM - 8:00PM
Thursday
8:00AM - 8:00PM
Friday
8:00AM - 8:00PM
Saturday
Closed