Live Oak Bank · Banks
Live Oak Business Savings review
Live Oak Business Savings is a straightforward high-yield account for US small businesses: no monthly fee, no minimum deposit and interest from the first cent, reported at about 2.85% APY in mid-2026. It has no debit card or ATM access, so it works best as a reserve account.
Who Live Oak Bank is best for
US small businesses wanting a simple savings account and businesses also using Live Oak for SBA loans.
Businesses needing debit card or ATM access to savings.
Live Oak Business Savings is a straightforward high-yield account for US small businesses: no monthly fee, no minimum deposit and interest from the first cent, reported at about 2.85% APY in mid-2026. It has no debit card or ATM access, so it works best as a reserve account.
Fees, features and eligibility
| Standard interest | About 2.85% APY on all balances (reported by NerdWallet, June 2026; check Live Oak for today’s rate) |
|---|---|
| Fees | $0 a month |
| Currencies | USD |
| Access to funds | Online transfers; no debit card or ATM access |
| Deposit protection | FDIC insured up to $250,000 |
| Eligibility | US businesses |
Source: Live Oak Bank published product information.
What stands out
Pros
- No monthly fee or minimum deposit
- Interest from $0.01
- FDIC insured
Cons
- No debit card or ATM access on savings
- Rate changes often
Live Oak Bank: common questions
What does Live Oak Business Savings pay?
NerdWallet reported 2.85% APY in mid-2026, with interest from the first cent. Rates are variable, so check Live Oak for the current rate.
Is there a minimum deposit?
No. There’s no minimum deposit and no monthly fee.
Used Live Oak Bank? Help other businesses choose.
Other cash management accounts to consider
Best for balances of $25,000 and up
