Open Your CD Account Today

A CD is a great savings tool for your long-term financial goals. When interest rates fluctuate, you can be confident that you have a guaranteed rate of return on the money you’ve placed in your Live Oak CD account.

Features
  • No monthly maintenance fees
  • Interest can be automatically disbursed monthly
  • Manage your renewal preferences online

Still have questions? Check out our FAQs

Ready to start saving money for your business?
Here’s how:

Apply Apply to open your business CD account in minutes. We’ll request both business and personal information to verify your identity and contact information.
Fund To fund your account, you simply link an existing bank account and transfer funds. Reminder, our CD accounts require a minimum balance of $2,500.
Finalize Congratulations! You've opened a CD account for your business. Now you can add authorized signers, set interest disbursements preferences or modify your CD renewal settings.

At Live Oak, you get more than a great rate

Service

Our North Carolina-based customer success team is dedicated to providing you personalized support.

FDIC insurance2

Funds deposited with Live Oak Bank are insured up to the maximum allowed by law, which is currently $250,000.

Learn why FDIC insurance matters.

No maintenance fees

Our accounts have no online banking or monthly maintenance fees.

Online account opening

Open and manage your account without leaving your house. Download our mobile app to access your account on the go.

Download for iOS Download for Android

Savings 101

Small business
makes a big impact

Did you know that when you deposit your money at Live Oak Bank, you’re helping to power small businesses across America? When your bank finances small business, so do you. As our nation’s economic engine, small businesses drive job prosperity and boost local economies. We’re proud to contribute to that growth by investing in small business owners across the country. When you bank with Live Oak, you can be proud, too.

FAQs

  • What fees does Live Oak charge?

    Account Fees:

    • Online Banking Fee: No Charge
    • Monthly Interest Disbursements Fee: No Charge

    Early Withdrawal Penalties:

    • Early Principal Withdrawal of a CD with a term less than 24 months: 90 Days of Simple Interest
    • Early Principal Withdrawal of a CD with a term 24 months or greater: 180 Days of Simple Interest
  • What is the minimum/maximum deposit allowed to open a Business CD?

    Currently, the minimum is $2,500 and the maximum is $250,000 per account.

  • Can I open a Live Oak Bank Business CD in the name of a Trust?

    Live Oak Bank does not currently offer Business CDs for Trusts.

  • What is the process to open a Live Oak Bank Business CD?

    To open a Business Certificate of Deposit, we will ask for the personal information of the authorized signers, business information, and bank account information. We will verify the information provided electronically. Once this information is confirmed, you will enter an amount which will be transferred from the verified bank account into your new Business CD. You may add additional authorized signers after funding the account.

  • What happens when my CD matures?

    At the time of maturity, the funds can be withdrawn or the certificate will automatically renew at the current interest rate offered for a CD of the same term. An authorized signer has up to 10 calendar days following the maturity date to withdraw the available funds.

View More FAQs

1. Live Oak Bank Certificate of Deposit Annual Percentage Yield (APY) is valid as of and subject to change at any time without prior notice. The minimum deposit required to open an account is $2,500 and the maximum amount is $250,000 per account. Penalties may apply to early withdrawals. Fees may reduce earnings.

2. Live Oak Bank is a member of the Federal Deposit Insurance Corporation (FDIC). As a Live Oak Bank customer, your Live Oak Bank deposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.

See Disclosures for details.

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