Live Oak Bank
View all Live Oak Bank accounts »
Most Popular Live Oak Bank Account
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| Savings | 1.10% | Business Savings | - | $5m | Details » |
Live Oak Bank is the 289th largest bank in the nation. It was established in 2008 and as of December of 2018, it had grown to 473 employees. Live Oak Bank's savings rates are 4X the national average, and it boasts an A+ health rating.
Related Posts
2/22 - Savings Account Increase
2/15 - Downward CD Movement
1/11 - Live Oak Bank Savings Account Rises to 2.25% APY
1/9 - Live Oak Savings Moves Up To 2.25%
11/28 - Live Oak Ups Saving Rate To 2.10
11/16 - Live Oak Bank Nudges 1-Year CD Rate Again
11/8 - Live Oak Bank Nudges 1-Year CD Rate
10/24 - Live Oak Bank's Savings Account Reaches 2.00% APY
10/24 - Live Oak Ups Savings Rate
10/10 - Live Oak Bank 1-Year CD Has A New APY
10/10 - Minor Increases
8/24 - Live Oak Lowers CD Rates
8/11 - Live Oak Bank (Internet Bank) 1-Year CD Rate Raised
8/9 - Slight CD Increase
7/18 - Live Oak Bank Increased Savings Account Rate To 1.80%
7/6 - Live Oak Bank (Internet Bank) 1-Year CD Rate Jumps
7/4 - Higher CD Rates
5/9 - Live Oak Bank - Confirm Your Account Info Is Correct
5/9 - 2-Year CD Rate Cut
4/26 - Live Oak Bank Lowers Rates On 2 Year And 18 Month CD's
4/18 - Increase In 1-Year CD Rate
3/22 - Live Oak Bank Savings Account APY Climbs
3/21 - Savings Now At 1.70%
3/15 - Live Oak Bank Once Again Pulls Ahead In The Rates Race
3/15 - Another Bump Up At Live Oak
3/7 - CD Rates Up As Of 3/7/18
1/31 - Live Oak Bank Pushes CD Rates Upward
1/17 - Live Oak Bank Takes The Lead In One Year CD Rate 2.10%
1/17 - Live Oak Bank Ups 1-Year CD And Savings Account Rates
1/11 - Live Oak Bank's 1-Year CD Joins The 2% APY Club
1/10 - CD Rate Increases
12/14 - CD Rates Increases
12/1 - Savings Account Now Earning 1.45% APY
11/1 - CD Rates Increases
8/8 - Live Oak Bank Ups Savings Account Rate
8/8 - Savings APY Increased To 1.40%
7/7 - Live Oak Bank (Internet Bank) Ups Savings Account Rate
7/6 - Savings Account APY Increased To 1.35%
6/22 - CD Rate Increases
6/13 - Live Oak Bank (Internet Bank) Adds Savings Account
6/12 - Savings Account
3/22 - Live Oak Brokered CDs
3/15 - 1-Year CD Rate Increase
1/25 - Live Oak Bank (Internet Bank) Increases Short-Term CD Rates
1/25 - Live Oak Bank Increases 1-Year And 18-Month CD Rates
8/1/16 - Live Oak Drops 4- And 5-Year CD Rates
2/25/16 - 6-Month CD Added
2/1/16 - Live Oak Bank (Internet Bank) Raises Rates On All Its CDs
2/1/16 - Live Oak Bank 1Yr CD 1.3%APY More Terms Available
6/2/15 - End Date Extended On 24-Month CD, 1.50% APY
5/19/15 - Live Oak Bank Offers Limited-Time, Top Rate 24-Month CD - Online Only
4/22/15 - Live Oak Bank Has Limited-Time, Top Rate 12-Month CD
4/20/15 - Top Rate 1.40% APY 1 Year CD, Live Oak Bank. Quick Look.
4/2/15 - Live Oak Bank Offers Limited Time, Top-Rate 24-Month CD
4/1/15 - 1.50% APY 24 Month CD At Live Oak. Quick Look.
3/10/15 - Live Oak Bank's 5-Year CD Special Is Back For A Limited Time
2/19/15 - Top 5-Year CD Rate at Live Oak Bank
2/28/13 - Top Money Market and CD Rates at Live Oak Bank - North Carolina Only
Live Oak Bank Is Tops In On-Line Service
Upon retiring I had to make my money work harder for me, I built my CD ladder at about a dozen banks and credit unions that were offering top rates.
They all had pretty much the same account opening processes, but that is were the similarities ended.
Once your first CD account at Live Oak Bank, adding a second / third.... takes under a minute and is painless. Most other banks make you go through the whole opening process again, taking days. Its like they don't even know you.
At LOB, you can control virtually any aspect of your CD online with ease. Beneficiary / Joint Owner / Monthly interest can be sent back to your home bank, what to do when the CD matures, etc. Other banks require a call to their customer service, exchange of forms through the mail, it's an unnecessary bother.
All of LOB's great online service would not be with it if their interest rates were not at the top of the heap, but the consistently are. It's a win / win situation for CD investors. Top rates and top customer service.
Little wonder why most of my money goes to work at Live Oak Bank.
This Bank Understands The Real World
Easy, seamless application process. These guys are in touch with reality. No complicated pointless BS.
Be Prepared With Google Maps To Open Your Account
Their identity verification questions are so annoying. What 30 something year old knows off the top of their head what hospitals are closest to them?! And not telling me the questions were time sensitive?
And then to ask for 3 separate forms of ID, one of which a lot of renters don't have?? Way too much hassle for a 0.1% boost, especially because if you've put this little thought into your customers first impression it speaks badly for how future stuff will be. I'm going to stick with my other banks that had spent two seconds thinking about customer experience.
Live Oak Bank Fail
Jan 26th, 2018
How can I describe the account setup process with Live Oak bankl? In one word… ridiculous!
I provided all the information they requested to open a $20k CD last Friday. By the following Thursday I still hadn’t heard back from them (in complete contravention of their claimed 2 day response for opening new accounts). So I sent them an email asking what the status was. Later that day I received an email stating they were still reviewing my application and that they still needed some additional paperwork.
Now, I’m a 70 year old, white male, own my own $500k home, 18 acres of land, no mortgage, and I’m retired (used to be a Regional Sales Manager for a Fortune 250 company). Oh yeh, did I mention I have an 822 credit score?
What I don’t have is bills. The electric bill is in my wife’s name (she kept her maiden name because she owns her own company). We don’t have a large electric bill cause we have solar. We don’t have gas, we use oil. And we don’t have a water bill since we have our own well.
So, what’s the problem?
According to Live Oak bank, my Social Security number, house address, bank references and 20 minutes of filling in their application weren’t enough. They needed an electric bill in MY name to prove that was my home address! Really? The alternative, according to their ‘lack of customer service’ department, was to provide them with my IRS tax statement! What!? You want my most personal info to prove the house is mine? In this day and age you can’t figure out how to find out if this is my address? I even offered to provide a copy of my passport. What about a copy of my credit report? Nope. Not acceptable. Electric bill in MY name or my taxes. That’s it!
So, let’s see. That means that any men who have their wives names on the utility bills won’t be able to open an account. Or, god forbid, you have a well instead of city water! But you can ALWAYS provide them with your tax return! Nope. Not happening.
So, frustrated, I contacted Synchrony Bank, filled in their easy (and quick) CD application on-line and had the account ready to go within hours… and they are currently paying 2% on 12 month CD’s. So now Synchrony Bank has my $20k, not Live Oak.
Congrats Synchrony Bank! Major fail Live Oak.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58665 |
| Year Established | 2008 |
| Employees | 473 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.05% |
| Return on Equity - YTD | 18.36% |
| Annual Interest Income | $165.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $3.62B$2.67B |
| Loans | Q4 2018vs Q4 2017 | $2.51B$2.01B |
| Deposits | Q4 2018vs Q4 2017 | $3.17B$2.32B |
| Equity Capital | Q4 2018vs Q4 2017 | $411.6MM$307.7MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $32.6MM$24.4MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $1.1MM$0 |
| Real Estate Owned | Q4 2018vs Q4 2017 | $1.1MM$1.3MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Downward CD Movement
Live Oak Savings Moves Up To 2.25%
Always verify rates and promotions with the bank or credit union. We are not Live Oak Bank; we are a rate comparison website and cannot provide official rates or promotions.
Live Oak Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.30% | - | $5m | Savings Account | |
| 1.10% | - | $5m | Business Savings |
Live Oak Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.10% | $2.5k | $250k | 5 Year CD | |
| 3.10% | $2.5k | $250k | 5 Year Business CD | |
| 3.05% | $2.5k | $250k | 4 Year CD | |
| 3.05% | $2.5k | $250k | 4 Year Business CD | |
| 3.00% | $2.5k | $250k | 3 Year CD | |
| 3.00% | $2.5k | $250k | 3 Year Business CD | |
| 2.95% | $2.5k | $250k | 2 Year CD | |
| 2.95% | $2.5k | $250k | 2 Year Business CD | |
| 2.90% | $2.5k | $250k | 18 Month CD | |
| 2.90% | $2.5k | $250k | 18 Month Business CD | |
| 2.85% | $2.5k | $250k | 1 Year CD | |
| 2.85% | $2.5k | $250k | 1 Year Business CD | |
| 2.45% | $2.5k | $250k | 6 Month CD | |
| 2.45% | $2.5k | $250k | 6 Month Business CD |
Live Oak Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1741 Tiburon Drive - Wilmington, NC 28403