-
Financial Rates:
4.5
-
Customer Service:
4.0
-
Website Experience:
4.0
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- Some business accounts offered
- No minimum balance or monthly fees
- Earn high interest on any amount
Cons:
- Only savings account and CDs offered
- Linked external accounts required
- CDs have large opening required amounts
- No checks or debit card offered
-
Financial Rates:
5.0
-
Customer Service:
3.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on CDs
- Interest rates are not tiered
- No fees and low opening required amounts
- Everything for an account is online
Cons:
- Limited accounts offered
- Customer service not available 24/7
- No business accounts offered
- Link CD accounts to external accounts
The interest rates of Live Oak Bank accounts are competitive. They are much higher than your typical brick and mortar bank rates. Account rates are competitive with other online-only accounts.
Live Oak Bank offers a few business accounts. They offer a savings account and CDs. There are seven CD terms offered for small business accounts. The terms range from six months to a five-year CD. The longer the CD term, the higher the interest rate offered.
There is no required amount to keep in a Live Oak savings account. There is no monthly fee. If your account gets to $10.01 and is inactivated for 24 consecutive months, you will be charged a fee. Live Oak Bank will then close the account. If you make more than six withdrawals per month, you will be charged $10 for each transaction.
Live Oak Bank savings account and CDs offer competitive interest rates. You earn the highest interest rates on any amount deposited in the accounts. There is no set balance required to earn the highest interest rates offered.
The only accounts offered are a savings account and CDs. These are the only accounts offered for personal banking, as well as business banking. There are seven different CD terms available. The terms range from six-months to five-years.
To open a Live Oak Bank, you must link an external checking account. Live Oak Bank does not offer a checking account. To make electronic transfers requires a linked checking account.
Live Oak Bank CDs have a large opening amount for each term. The opening amount required is $2,500 for each CD term. The different CD terms range from a six-month term to a five-year term.
There are no checks or debit cards available for Live Oak Bank accounts. The only way to access your money is to make an electronic transfer. Once you make the transfer online, the money will be available within one to two business days. Anything transferred after 4:00 p.m. is processed the next business day. Federal regulations only allow for six withdrawals each billing cycle.
The interest rates on Limelight CDs are competitive. They are competitive with other online CD accounts. Limelight interest rates are much higher than typical brick and mortar bank rates.
Limelight interest rates are not tiered. Any amount in the CD earns the most competitive rate offered. There is no set balance required to earn the most competitive rate.
Each of the Limelight CDs only requires $1,000 to open. There are no monthly fees. The only fees with Limelight CDs are from withdrawing money before the account reaches maturity. You can withdraw money during the grace period without a fee.
Limelight Bank is an entirely online bank. There are no branch locations. You open your account online, and everything for your account is online. Any U.S. citizen, who is 18 years or older, with an SSN or ITIN can open an account.
Limelight Bank offers limited options for personal deposit accounts. They only offer personal deposit CDs. Those CD terms include a six-month term, 12-month term, or 18-month term. Limelight Bank does not offer a savings, checking, or money market account.
Limelight customer service is not available 24/7. The most common way to reach customer service is through email. There is a phone number listed on the website. Customer service hours are not listed on the website.
Limelight Bank does not offer business accounts. The only account offered are personal deposit CDs. Those terms include a six-month, 12-month, and 18-month terms.
Limelight does not offer a checking or savings account. To fund the CDs requires the accounts to be linked to an external account. Once the account is linked to an external bank account, you can easily make transfers into and out of the CDs. Transfer money during the CD grace period or when the CD reaches maturity to avoid a fee.
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.65% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.40% |
|---|---|
| Rate | 4.30% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: $200 Bonus w/ Tiered Savings Account and Qualifying Activities |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $100 |
| Min to Earn APY | $5,000 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| MMA (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | Yes |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.10% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $1,000 |
| Min to Earn APY | $1,000 |
| Monthly Fee | $5.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†. Promoted offer: var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.