Overview

Live Oak is a digitally focused, FDIC-insured bank serving customers across the country. We are the #1 SBA 7(a) lender by dollar volume* in the country and our mission is to be America’s small business bank.We aim to fulfill that mission through banking products that help business owners buy, build, expand and operate their business,

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Pros:

• Solid interest rate on savings
• No monthly fees.
• No minimum balance on savings.

Cons:

• Only one physical location, which may be challenging for customers who prefer face-to-face service.
• No cash deposit.

Overdraft Fees:

Bottom Line

Live Oak Bank has primarily online services and offers an above-average savings interest rate, along with personal CDs, a business savings account and business CDs. The bank doesn’t charge monthly maintenance fees..

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