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.

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