bank rates

CD Rates Leaderboard For Feb. 13, 2013

A new bank debuts on the CD Rates Leaderboard today at the top of two terms.

And the rates are good.

Really. Good.

Live Oak Bank ( of Wilmington, N.C., which specializes in small business loans to veterinarians, dentists, independent pharmacists, funeral home owners and investment advisers, pays 1.75% APY for 24-month CDs, and 1.85% APY for 36-month CDs.

It’s like someone took a time machine back to 2011, which is the last time either of these terms saw lead rates this high.

If that weren’t enough, Live Oak Bank also pays 2.00% APY for 48-month CDs. (Yep, 2%!)

A $25,000 minimum deposit is required to open a certificate of deposit with Live Oak Bank, which sells its CDs nationally through the mail. It has no brick-and-mortar branch.

Be forewarned, the rates are tricky to find on its website.

Clicking on “online banking” from the home page will take you to the rates page. This is misleading, as is the “open an account” button, because you can’t buy Live Oak Bank’s CDs online.

You need to call the number listed, 877-890-5867, to begin the process.

And here’s our standard warning when we find deals like this from small banks: Buy theses CDs quick, because they probably won’t last.

Perhaps Live Oak Bank will prove us wrong. Please, prove us wrong.

Live Oak receives a four-star Safe & Sound rating from

The now second-best 24-month rate, 1.35% APY from (, is four-tenths of a percentage point behind Live Oak Bank’s offering.

And the second-highest 36-month rate, 1.40% APY for and NexBank (, is nearly a half a percentage point lower.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (3)
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 5.00 out of 5)
3 Existing Comments
  1. wbull55 said:
    on February 13th at 01:37 pm

    The Live Oak website is down as of 2/13/13 2:35

  2. Mike Cetera said:
    on February 13th at 03:43 pm

    Looks like it’s working again.

  3. titanium world said:
    on February 22nd at 08:56 am

    Thanks for the great article..