Live Oak Bank Business Savings Review 2025 | Worth It or Leave It?

Live Oak Bank’s Business Savings account solves the pain points of traditional business banking by offering an impressive 3.35 percent APY with no monthly fees and no minimum balance, making it easy for any business to accelerate savings growth without getting burdened by hidden charges or complicated requirements. All funds are FDIC insured up to $250,000, and for businesses with bigger balances, the Insured Cash Sweep program stretches that protection up to $10 million under one streamlined account. With all account management handled online, opening an account and adding signers is simple and fast, giving businesses back valuable time. However, Live Oak operates entirely online, so there are no branches or ATMs, and ACH transfers are required for all transactions. Deposits may also be held for up to five business days, and inactive, low-balance accounts could see small fees. For companies focused on effortless, digital-first savings with robust security, this account offers a compelling set of benefits, but there’s one more surprise about managing cash flow you won’t want to miss—so stick around to uncover the final piece of the puzzle.

Pros:
- High 3.35% APY, significantly above average
- No monthly maintenance fees
- No minimum balance required
- FDIC insurance up to $250,000 (and up to $10 million with Insured Cash Sweep)
- Fully online account management and easy setup
- Simple process for adding authorized signers

Cons:
- No physical branches or ATM access
- All transactions handled via ACH transfers
- Deposit holds may last up to five business days
- Dormant account fee if unused and low balance
- No instant cash withdrawal options

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