bank rates

New Nationwide Deal On 1-Year CDs Joins 2-Year Special, But Big Investment Needed

Live Oak Bank is offering a new CD deal for anyone able to come up with its hefty minimum deposit – and willing to do so relatively quickly.

This time it’s a 1-year CD paying 1.40% APY.

These certificates of deposit are available to savers nationwide but require an investment of at least $75,000, and only one CD may be opened per household or business.

Like previous Live Oak offerings, this one has a stated expiration date and time – noon ET on May 1.

Although online enrollment must be completed by then, receipt of the initial deposit is not required to lock in the rate.

The 1-year CD special is being offered alongside Live Oak’s 1.50% APY 2-year CD, which it began marketing on April 1.

The 2-year deal was originally set to end on April 7. However, it’s been extended three times and is now scheduled to expire at noon ET on April 24.

The $75,000 investment requirement prevents the Live Oak CDs from appearing on our CD Rates leaderboard, where minimum deposits may not exceed $25,000.

However, the Live Oak deals handily beat the Leaderboard’s top nationally available returns of 1.23% APY for 1-year CDs and 1.35% APY for 2-year CDs.

Live Oak has a single branch in Wilmington, North Carolina, and was founded in 2008 primarily to provide small-business loans to underserved niche markets. If you want to borrow money to buy a funeral home, build a self-storage facility or expand your bowling alley, Live Oak is where you want to go.

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

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 4.00 out of 5)
No Existing Comments

Comments are closed.