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High Yield Savings - FAQ

Account Management

  • How do I withdraw from my account?
    You can withdraw from your account by logging into your online banking and withdraw or transfer the funds into another account.
  • How do I deposit physical cash?
    At this time, we do not accept physical cash deposits at this time. However, you can transfer money from your other account at other institutions into Laurel Road High Yield SavingsSM account.
  • How do I deposit money into my account?
    You can deposit money using your Online Banking account to transfer money from an external bank account to your Laurel Road account.
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About

  • What is a high yield savings account?
    A high yield savings account is a deposit account that typically pays more interest than an average savings account.
  • Will I get a debit card or checks with this account?
    No, the Laurel Road High Yield Savings account does not include a debit card or checks.
  • Is my money secure?
    As part of a national bank, Laurel Road relies on advanced data protection, strong encryption and continual monitoring to protect your account and your savings deposits are FDIC insured*. *Deposits are insured up to the maximum allowable limit. Laurel Road is a part of KeyBank N.A. All single accounts owned by the same person at KeyBank N.A. are added together and insured up to the maximum allowable limit. To learn more, contact the FDIC toll-free at 1.877.ASK.FDIC (1.877.275.3342) or visit www.fdic.gov.
  • Is there a monthly maintenance fee?
    No, there is no monthly maintenance fee with the Laurel Road High Yield SavingsSM account.
  • How often is interest rate compounded?
    The interest for the Laurel Road High Yield SavingsSM account compounds daily and is paid to you monthly.
  • Is there a minimum balance to open a Laurel Road High Yield SavingsSM account?
    No, there is no minimum deposit to open this account.
  • Do I qualify to open a Laurel Road High Yield SavingsSM account?
    You can qualify to open a Laurel Road High Yield Savings account if you are an existing Laurel Road customer or a new customer with the following degrees: Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS), Doctor of Optometry (OD), Doctor of Audiology (AuD), Doctor of Naturopathic Medicine (ND), Doctor of Podiatric Medicine (DPM), Doctor of Veterinary Medicine (DVM), or Doctor of Chiropractic (DC).
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