Stop begging for your
bank’s attention.

Get the service and rate you deserve.
For a limited-time, earn $2001 and   APY2 when you open a new account.

Open Account

Earn What You Deserve (And Then Some)

Take these three simple steps to earn a $200 cash bonus.1

1. Open a New Account

Open a Live Oak Bank personal savings account by 9/30/25.

2. Fund Your Account

Deposit at least $20,000 into your account by 9/30/25.

3. Maintain Your Balance

Maintain a balance of at least $20,000 for 60 days.

Earn and save more with & APY2

Earn &x the national average.3

We’re proud to offer a competitive interest rate so you can build your savings faster.

THE PERKS OF SAVING WITH LIVE OAK

Keep More of Your Money

Benefit from no monthly maintenance fees, and watch your money grow faster with a competitive savings rate.

Real People, Real Answers

Get your questions answered quickly by our US-based support team.

Peace of Mind

Your deposits are FDIC-insured4 up to the maximum allowed by law, ensuring your money is safe and secure.

Start Small, Grow Big

No minimum balance required, so you can start saving today, no matter how much you have.

Plan for the Future

Easily manage beneficiaries online to ensure your savings are passed on according to your wishes.

Couple sitting at kitchen island table discussing their personal savings account goals

Personal Savings Account FAQ

There is no longer a limit to the number of transfers you can make from your Live Oak Bank savings account. You can move up to $250,000 per transfer day.

You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Portal, select Transfer Funds, then select the ‘from’ account, ‘to’ account and amount of the transfer. Your ACH should post to your external account within 1-2 business days. The ACH cutoff time is 5:00 p.m. ET.

The Live Oak Savings account does not include checks or a debit card.

Deposits begin earning interest on the day the deposit is posted to your account. Please allow 1-2 business days for an incoming ACH transfer initiated through the Live Oak Bank Portal to post to your account. Check deposits are posted to the account on the day we receive them. Interest is compounded daily and posted to your account on the last business day of the month. You must have a balance of $.01 to earn interest.

You may initiate an ACH transfer from your external bank account through the Live Oak Bank Portal. The cutoff time for incoming and outgoing ACH transfers is 5:00 p.m. ET. Please allow 1-2 business days for the funds transfer to process. For security and verification purposes, incoming transfers initiated through the Live Oak Bank Portal are held for five business days once posted to your Live Oak account.

ACH transfers initiated from an external account and sent to your Live Oak account are available immediately upon receipt.

Deposits made by check or mobile deposit will be held for up to five business days once posted to your account.

Funds sent to an external account are available at that bank within 1-2 business days. The transfer must be initiated before 5:00 p.m. ET.

  1. You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Bank Portal and choose the ‘Transfer Funds’ option. You may transfer funds between your Live Oak accounts and your linked external accounts. Please allow 1-2 business days for the transfer to process.
  2. Mail your check to our Headquarters:
    Live Oak Bank
    Attention: Deposits
    1757 Tiburon Drive
    Wilmington, NC 28403
    * Please note we do not accept checks drawn on foreign banks, third-party checks or cash deposits. (A third-party check is a check that is signed over to an individual not named on the front of the check
  3. Deposit a check with the Live Oak Bank Mobile App. Deposit limits apply. The mobile deposit cutoff time is 4:00 p.m. ET. Deposits received after 4:00 p.m. ET will be processed on the following business day.
  4. Wire funds into your account. Log on to the Live Oak Bank Portal for wire instructions. You must have an open account to deposit by wire. A new account cannot be opened by wire. (please click here to see our fee schedule for applicable fees).
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  1. Important Information about this Personal Savings Bonus Offer:
    Customers must meet all of the following requirements to be eligible for the $200 bonus:

    • New and Existing Customers:

      • The promotion begins on September 2nd, 2025.
    • Only one bonus is available per Tax Identification Number per promotional period.
      • Only personal savings accounts are eligible for the bonus offer. Checking accounts, certificates of deposit (CD) accounts and fiduciary accounts (e.g., trusts) are not eligible for this offer.
      • Opening of a new account will be subject to approval by Live Oak Banking Company in its sole discretion.
      • A new account must be opened between September 2, 2025 and September 30, 2025 to be eligible.
      • A new Live Oak Bank personal savings account must be fully funded with at least $20,000 by 11:59 p.m. Eastern Time on 09/30/2025 to be eligible for the bonus. If the account is not fully funded by September 30th, then the account is not eligible for the bonus offer.
      • All funding of the new personal savings account must consist of funds originating from an external financial institution to qualify; deposits or transfers originating from an existing Live Oak Bank account (whether personal or business) via internal transfer, CD redemption, check, ACH transfer, wire, or loan proceeds do not qualify for bonus offer.
      • Beginning on the date in September 2025 that the new account attains a balance of at least $20,000, if the balance remains equal to or exceeding $20,000 for 60 consecutive days, then the account will be eligible for the bonus if all other conditions are met. If all eligibility criteria are met, the $200 cash bonus will be deposited to your open, eligible account within 45 days following the expiration of the 60-day period.
    • Your new account must not be closed or restricted at the time of payout in order to receive the bonus. Live Oak Bank reserves the right to withdraw or withhold the bonus offer from any customer, with or without notice, if fraud or other suspicious activity is suspected.
    • Any promotional amounts received may be subject to taxation.

    • Existing Customers:

      • In addition to the other requirements for the bonus offer, existing Live Oak Bank customers must maintain their existing account balances (not including interest accrued but not credited to the account) at or above the end of day balance as of September 1st 2025 11:59:59pm (ET) across their existing personal savings in order to be eligible for the bonus offer.
  2. Live Oak Bank Savings Annual Percentage Yield (APY) is valid as of . No minimum opening balance or deposit required to open. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but customers must have a balance of $0.01 to earn interest. Fees may reduce earnings.
  3. National savings average rate courtesy of the FDIC’s Weekly National Rates and Rate Caps, as of ; average rate used is for deposits under $2,500.
  4. Live Oak Bank is a member of the Federal Deposit Insurance Corporation (FDIC). 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.