Please come back to open your new account on Monday, August 23.
An alternative to a traditional savings account, a Certificate of Deposit account is suitable for those who are willing to leave their savings untouched for a set amount of time.
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.
Learn how you can maximize your coverage.
Account Fees:
Early Withdrawal Penalties:
Currently, the minimum is $2,500 and the maximum is $250,000 per account.
The Certificate of Deposit can only be opened online. You may click ‘Get Started’ on the homepage and follow the prompts to begin the quick three-step application. We will ask for your personal information and external bank account information. Your information will be verified electronically. We may request documentation if additional verification is required. Once this information is confirmed, you will enter the amount of your deposit to schedule an ACH transfer from the verified bank account into your new CD account.
You may add a co-owner or beneficiary to the account after completing the funding step of the application.
At the time of maturity, the funds can be withdrawn or the certificate will automatically renew at the current interest rate offered for a CD of the same term. The account holder has up to 10 calendar days following the maturity date to withdraw the available funds.
No, we do not offer retirement accounts.
The online application is for personal accounts only. You may list your Trust as beneficiary if that works for you.
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.
Disclaimer: This link will take you to a website outside of the Live Oak Bank site. The new site may offer a different privacy policy and level of security. Live Oak Bank is not responsible for the products or services that are offered or expressed on other websites.
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