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.

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

Still have questions? Check out our FAQs

Convenient digital access, superior customer support



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

FDIC insurance

FDIC insurance2

Funds deposited with Live Oak Bank are insured up to the maximum allowed by law.

Learn how you can maximize your coverage.

No maintenance fees

No maintenance fees

Our accounts have no online banking or monthly maintenance fees.

Online account opening

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

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.


  • 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 CD?

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

  • What is involved in the process to open a CD?

    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.

  • 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. The account holder has up to 10 calendar days following the maturity date to withdraw the available funds.

  • Does Live Oak Bank offer IRA (Individual Retirement Accounts)?

    No, we do not offer retirement accounts.

  • Can I open a CD in the name of my Trust?

    The online application is for personal accounts only. You may list your Trust as beneficiary if that works for you.

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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