Live Oak Bank
Member FDIC · 1-Year Personal CD
Updated October 1, 2026 · By the MoneyAtlas Editorial Team
on Live Oak Bank's site
Category Ratings
Pros
Competitive one-year rate: 4.30% APY* beats most of the one-year CDs we track
No monthly maintenance fees: Live Oak does not charge a monthly maintenance fee on its personal CDs, though a penalty may apply if you withdraw before the term ends.
Interest paid out monthly: automatic monthly disbursements rather than one lump sum at maturity, which is unusual on a one-year CD and genuinely useful if you need the income.
Cons
$2,500 to open: a high gate next to Live Oak's own savings account, which starts earning at a penny, and next to CDs that carry no minimum at all.
Online-only, no branches: there is no ATM access and no cash deposit option; funding and withdrawal both run through electronic transfer.
Why we rate it 4.8/5
A competitive one-year rate with an honest catch: you need $2,500 to get in, and Live Oak pays the interest out monthly instead of compounding it to maturity.
No monthly maintenance fees, but $2,500 is needed to open and an early-withdrawal penalty may apply.
A single one-year consumer term; no published ladder of shorter or longer CD options.
U.S.-based phone support, with first-call resolution above 90% by the bank's own reporting.
Open online, track maturity dates and set renewal preferences entirely from the account dashboard.
Online-only bank with no branches and no ATM access; every dollar moves by electronic transfer.
Live Oak Bank's one-year personal CD pays 4.30% annual percentage yield (APY)* on a $2,500 minimum deposit, with no monthly maintenance fees and interest paid out automatically each month rather than held to maturity. This online-only account is from Live Oak Bank, Member FDIC, a Wilmington, North Carolina bank better known to business owners than to savers, and deposits are FDIC Insured* up to $250,000 per depositor.
At a Glance
How the rate compares
At the one-year mark, 4.30% APY* is near the top of the range we track — but it is not alone up there. Synchrony's certificate pays 4.00%, and Barclays, Western Alliance, and Quontic all sit at 4.00%. Quorum goes higher at the one-year point, paying 4.50% APY on its 12-month term (as of 9/29/26). Look across full CD ladders and the picture shifts again: Bread quotes 4.20% on a headline term, and E*TRADE advertises up to 4.35%.
The practical read: if you are specifically buying a one-year CD and you can clear the minimum, Live Oak's rate is competitive enough that the decision comes down to the two things below — the $2,500 gate and the monthly payout.
Compare
The $2,500 minimum is the real trade-off
Live Oak's own savings account has no minimum balance to open. The CD requires $2,500 up front, and that gap is the biggest factor separating this account from the rest of the shelf. If you have less than that — or if reaching it would mean emptying an emergency fund — the CD is the wrong product. Live Oak's high-yield savings account pays 4.00% APY** once the balance reaches $0.01, and stays liquid. Fifteen basis points is not worth locking up money you might need.
Monthly interest payments change what this CD is for
Most CDs compound interest inside the account and hand you the whole balance at maturity. Live Oak pays interest out every month instead. Which way that cuts depends entirely on what the money is for. If you are using the CD as an income instrument — a retiree drawing on savings, say — a monthly payment is exactly what you want. If you are trying to maximise the ending balance, a monthly payout means the interest stops earning interest the moment it leaves the account, so you would need to reinvest it somewhere to keep compounding.
One tax note either way: CD interest is taxable in the year you receive it, not the year the CD matures, and it is reported to you on a 1099-INT. Paying out monthly doesn't change what you owe in total, but on a one-year term it puts the income in the current tax year rather than deferring it.
Is Live Oak Bank safe?
Live Oak Bank is a Wilmington, North Carolina–chartered bank and one of the country's largest SBA small-business lenders, which is why the name is more familiar to business owners than to savers. Deposits are FDIC Insured* up to $250,000 per depositor, per insured bank, for each ownership category — the same protection any other insured bank carries. Live Oak also runs two-factor authentication and real-time fraud monitoring on consumer accounts.
It is online-only. The CD has no branches or ATM network, so funding and withdrawals run through electronic transfer. Live Oak says its U.S.-based support team resolves more than 90% of issues on the first call; that is the bank's own figure, not an independently audited one.
Who it's best for
- Savers with $2,500 or more they will not touch for a year. The rate is competitive at the one-year point, and there are no monthly maintenance fees.
- Anyone who wants the interest paid out rather than locked in. Automatic monthly payments are unusual on a one-year term and genuinely useful if the CD is funding something.
- People who want a chartered bank rather than a fintech. Live Oak holds its own charter, and deposits are FDIC-insured* directly, not through a partner bank.
Who should skip it
- Anyone under the $2,500 minimum, or anyone who would drain a cash buffer to reach it. Live Oak's savings account pays 4.00% APY** from a $0.01 balance and stays liquid.
- Savers chasing the single highest rate on the board. Quorum pays 4.50% APY on its 12-month term (as of 9/29/26), and E*TRADE advertises up to 4.35% on parts of its ladder.
Savings or a CD at Live Oak?
The gap between Live Oak's CD and its high-yield savings account is 15 basis points — 4.30% APY* against 4.00% APY**. That is a narrower spread than most banks offer between locked and liquid money, making this a decision about certainty rather than yield. The CD fixes your rate for the full year; the savings rate is variable and will move down if the Fed cuts. If you are confident you will not need the money, take the fixed rate. If there is real doubt, 15 basis points does not cover the cost of breaking the term. One more factor through October 16, 2026: Live Oak is paying a $300 bonus** on new personal savings accounts funded with at least $20,000 from another bank and kept there for 90 days. CDs are not eligible for it.
FAQ
*Click here for full terms and conditions — Live Oak Bank 1-Year Personal CDs. Live Oak Bank, Member FDIC.
**Click here for full terms and conditions — Live Oak Bank High-Yield Personal Savings, including the $300 bonus offer.