Live Oak Bank
$114.58/mo earned
- Rate by balance
- 2.75% on any balance
- How the rate applies
- Flat
- Balance to waive fee
- None
- To open
- None
- Rate dated
- 10/26/2026
- Interest earned
- $114.58/mo earned
Live Oak Bank
Live Oak Bank is a US chartered bank for small businesses, compared here for its business savings account, which pays one published rate on every balance with no monthly fee.
Best for
Small businesses that want one flat published rate on their savings with no fee and no tiers to manage.
A business savings account from a chartered bank paying one published rate on every balance, compounded daily, with no monthly fee and no minimum to open.
- APY
- 2.75%
- Monthly fee
- None
- Balance to waive fee
- None
- Checking required
- Not stated
How Live Oak Bank compares
All prices in USDPrices checked
Side-by-side with the closest alternatives by estimated cost.
Interest earned over 12 months, net of fees, from a $50,000 starting balance (our example, not a typical one) and no deposits. Fees are waived on that month's balance, interest is each month's APY divided by 12 with no interest on interest, and a published introductory rate counts for its stated months only. Relationship rates and promo-code offers are not counted.
Lili
$93.75/mo earned
- Rate by balance
- 2.25% to $500K; 4.00% to $1M; none above
- How the rate applies
- Each slice at its own rate
- Balance to waive fee
- None
- To open
- None
- Rate dated
- January 13, 2026
- Interest earned
- $93.75/mo earned
Grasshopper Innovator Savings
$135.42/mo earned
- Rate by balance
- 1.55% to $24,999; 3.25% from $25,000
- How the rate applies
- Whole balance
- Balance to waive fee
- None
- To open
- $100
- Rate dated
- 10/13/2026
- Interest earned
- $135.42/mo earned
Piermont Business Money Market
$135.42/mo earned
- Rate by balance
- 0.75% under $20,000; 3.25% from $20,000
- How the rate applies
- Whole balance
- Balance to waive fee
- $1,000
- To open
- None
- Rate dated
- 06/15/2026
- Interest earned
- $135.42/mo earned
Strengths and trade-offs
Pros
- A chartered bank holding deposits directly
- One published rate on every balance, with no tiers
- No monthly maintenance fee and no minimum to open
- Interest compounds daily
Cons
- The rate is variable and can change at any time
- Whether a Live Oak checking account is required is not stated on the page read
About Live Oak Bank
Live Oak Bank is a chartered bank that holds deposits itself. We compare its Business Savings account.
The account pays one published rate on every balance, with no tiers to track, no monthly maintenance fee and no minimum deposit to open. Interest compounds daily and is posted on the last business day of each month. The rate is variable, and Live Oak prints the date of its current rate beside it.
Live Oak's page does not say whether a Live Oak checking account is needed to open the savings account.
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