Sumary of Live Oak Bank review: High rates on savings and CDs, and no monthly service fees:
- Live Oak pays competitive rates, but you may be able to find better rates at other online banks.
- See Insider’s picks for the best high-yield savings accounts » This post was last reviewed and updated on July 22, 2021. The bottom line: Live Oak Bank is good if you’re searching for an online bank that pays high rates.
- Related The best online high-yield savings accounts of September 2020 Depositing and receiving cash are the tricky parts.
- Related The best CD rates of September 2020 Live Oak pays competitive rates on CDs, but depending on the term, you may be able to find better rates at other online banks .
- As a result, the three banking companies could avoid offering people competitive salaries.
- How Live Oak Bank compares to similar banksWe compared Live Oak with two other online banks that pay high yields: Marcus by Goldman Sachs and Ally.
- Marcus reviewLive Oak Bank and Marcus have a lot of similarities.
- Related Marcus by Goldman Sachs has competitive savings accounts and term CDs, but its no-penalty CDs are probably its strongest product Marcus does have a couple of advantages when it comes to CDs, though.