The Offer
- Live Oak Bank offers a 12-month CD with an APY of 2.10%
Live Oak is an internet bank, available nationwide, and member FDIC. You can check our their full list of CD options here.
The Fine Print
- Minimum deposit of $2,500 required
- Maximum $250,000 deposit (you can open multiple CDs if you’d like)
- Account funding is done via ACH only
Our Verdict
It’s great seeing rates continue to creep up. Previously the best nationally available 1-year CD was the Synchrony 2% rate; this tops that at 2.10%. Live Oak also recently increased their regular savings account APY rate to 1.60%, bringing them near the top rate for non-locked funds.
We’ve added both of these accounts to our List of Best Savings Accounts.
Hat tip to Depositaccounts & David A
Live Oak savings is currently 1.70%
2.20 now
Is this hard pull or soft pull?
Most likely soft for a CD
can you fund with amex?
ACH funding only
dang, if i had another 0% APY CC to MS on, i’d totally do this. I love earning interest on money that i haven’t actually saved.
so you do a balance transfer i imagine, is it worth it with the fee??
FYI for savings account: There are no monthly maintenance fees or minimum balance requirements for the Live Oak Bank Savings account, however, the Dormant Account Fee will apply. If an account has a balance less than $10.01 and no activity for 24 consecutive months (“no activity” is defined as no withdrawals, deposits, contact with a Customer Success Manager, nor customer log-ins to the online banking website), a dormant account fee will be assessed and the account will be closed. The amount of the fee will be the account balance or $10.00, whichever is less. The dormant account fee will not lower the account balance beyond $0.00 and thus cannot overdraw the account.