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We’re all saving for someone or something

Live Oak Bank makes it easier with safe, secure, high-yield savings products — choose an FDIC-insured2 Certificate of Deposit (CD) for worry-free returns.


What are you waiting for?

  • FDIC Insurance Up to Maximum Allowed by Law
  • No Monthly Maintenance Fees
  • Competitive Rates at a Variety of Terms



Straight forward no-nonsense fees

Fee Type

Fee Description

Fee Amount

Account Fees

Online Banking Fee

No Charge

Monthly Interest Disbursements Fee

No Charge

No Charge

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

90 Days of Simple Interest

180 Days of Simple Interest


What you need to know

  • What is the minimum/maximum deposit allowed to open a CD?
  • What is involved in the process to open a CD?
  • What happens when my CD matures?
View More FAQs


Hear it from our customers

Live Oak Bank Is Tops In On-Line Service

Upon retiring I had to make my money work harder for me, I built my CD ladder at about a dozen banks and credit unions that were offering top rates.
They all had pretty much the same account opening processes, but that is where the similarities ended.

Once your first CD account at Live Oak Bank, adding a second/third…. takes under a minute and is painless. Most other banks make you go through the whole opening process again, taking days. It’s like they don’t even know you.

At LOB, you can control virtually any aspect of your CD online with ease. Beneficiary / Joint Owner / Monthly interest can be sent back to your home bank, what to do when the CD matures, etc. Other banks require a call to their customer service, exchange of forms through the mail, it’s an unnecessary bother.

Little wonder why most of my money goes to work at Live Oak Bank.

Jan 26, 2019

Opened a savings account 6 months ago and I am more than pleased.

The whole experience has been flawless. I have not needed to speak with anyone at Live Oak Bank while depositing, transferring, or withdrawing funds! Also, they notify me monthly on the first when interest is added to the account.

Aug 9, 2019

This Bank Understands The Real World

Easy, seamless application process. These guys are in touch with reality. No complicated pointless BS.

Mar 8, 2019

Good bank

Couldn’t be any easier from typing in info, linking accts and adding my wife as co-owner. Outstanding rates, solid ratings and great service. I am a fan.

Apr 16, 2019

Easy Process.

I followed the online process to open and fund a one year CD last week and every step was very clear. I called by phone once to make certain that everything was in order and their representative “Abby” was very knowledgeable, professional, and personable and my account was quickly funded. Easy Peasy.

May 26, 2019


How we are different

Live Oak Bank is a digitally focused, FDIC-insured bank serving customers across the country. We were founded in 2008 and are headquartered in Wilmington, NC. We lend to small businesses in niche industries and are one of the largest SBA lenders in the country.

We are a North Carolina-chartered bank and we offer both personal and business Certificates of Deposit and Savings accounts. Our safe, secure high-yield savings products are some of the most competitive in the country.

Our only branch and customer service team is located in Wilmington, NC. Without the expense of an extensive branch network, we can offer higher and more competitive interest rates for our customers.

We are a publicly traded company and you can visit our investor page for further information.

To learn how we keep our customers safe and secure, visit our privacy and security page.

    Nationwide high-yield savings products
  • Approximately 6,100 LOANS originated comprising ~$7.2 BILLION since inception (2008)
    lending footprint with highest loan volume in CA, TX and FL
    Voted #1 four years in a row by American Banker Magazine (2014, 2015, 2016, 2017)
  • $1.9 BILLION YTD loan originations as of December 31, 2017
  • LESS THAN 1%
    Default rate remains one of the lowest in the nation
  • 2nd LARGEST SBA LENDER in the Country (Source: SBA 100 Most Active SBA 7(a) lenders by lending volume in FY 2017)
  • ~540 BANCSHARES EMPLOYEES as of December 31, 2017
  • MONO-LINE FOCUS supported by domain expertise enables us to play a consultative role with the client during the financing process and bring value-added perspective throughout our relationship

From our Banking Resource Center


We are here for you

Contact a Customer Success Manager
Phone: 866.518.0286
Fax: 866.656.4611
Monday through Friday 8:00 a.m. – 8:00 p.m. ET

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.

Learn about your California consumer privacy rights & submit a personal information request.