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Live Oak Bank

Headquarter:

Wilmington, NC, USA

Visit Live Oak Bank Official Site ↗

Overall (8.9/10)

Interest Rates & APY (9.1/10)

Fees & Minimums (9.3/10)

Customer Service (8.9/10)

Mobile App & Digital Banking (9.1/10)

Rewards & Perks (9.3/10)

Alex Parker, CFA

Senior Banking Editor

Email 418 Articles

October 28th, 2026

Live Oak Bank Review:

Intro

Live Oak Bank is the #1 SBA 7(a) lender in the United States and a top-rated online bank for both consumers and small businesses, offering Personal High-Yield Savings, Business Savings (4.00% APY), Business Checking, and Fixed-Rate CDs.

Full Review

Live Oak Bank (Wilmington, NC, USA) is a prominent U.S. financial institution evaluated on MoneyCompared. Live Oak Bank is the #1 SBA 7(a) lender in the United States and a top-rated online bank for both consumers and small businesses, offering Personal High-Yield Savings, Business Savings (4.00% APY), Business Checking, and Fixed-Rate CDs.

In our comprehensive 2026 review, Live Oak Bank earned strong marks across rate competitiveness (4.40% - 4.75% APY), fee transparency, digital mobile experience, and U.S. regulatory consumer protections. Customers can apply online directly at Live Oak Bank.

Pros

Nationwide leader in SBA 7(a) and commercial small business lending
High-yield Personal Savings (4.40% APY) and Business Savings (4.00% APY) with $0 monthly fees
Multi-million-dollarICS/CDARS FDIC insurance sweeps available for business treasuries
Dedicated U.S.-based customer success specialists

Cons

No consumer checking account or consumer credit cards
$2,500 minimum opening deposit required for CDs

Feature	Value
Overall Rating	4.8
Savings APY / AER	4.40% - 4.75% APY
Deposit Insurance	FDIC / NCUA Insured ($250k+)

Live Oak Bank: Products

Live Oak Bank Personal High-Yield Savings

Live Oak Bank Business Savings & Checking

Live Oak Bank 12-Month Personal CD

Live Oak Bank: Categories

Business Banking

Rated 9.3

CD Rates & Fixed Deposits

Rated 9.2

High-Yield Savings

Rated 9.1