Laurel Road’s innovative engineering culture is enhanced by the scale and resources that
come with being part of KeyBank N.A., Member FDIC. To see the full job details and apply
for this role, you’ll be redirected to our KeyBank recruiting site.
You can make up to 7 monthly withdrawals or transfers to another KeyBank account of yours or to a third party without any additional fees; after you exceed 7 withdrawals or transfers during a month, your account will be charged $15 for each transfer or payment over the limit. Withdrawals and transfers include any check, preauthorized transfer, or withdrawal (including any electronic debit or automatic payment), and any telephone transfer or wire transfer of funds from your account.
Your Linked Savings account can be accessed within Laurel Road online banking. When you close your student loan refinance, you will receive immediate access to online banking to manage your new savings account.
We use the daily balance method to compute interest on Accounts. This method applies a daily percentage rate to the balance in the Account each day. To determine your daily percentage rate, we divide the interest rate by the actual number of days in the year. Interest begins to accrue on non-cash items (for example, checks) presented to us no later than the business day we receive credit for the deposit. Interest is compounded daily and credited to your Account monthly.
All Laurel Road savings accounts pay interest at a variable rate which may vary based on the balance in your account. Linked Savings account features may change from time to time, including interest rate and Annual Percentage Yield (APY). At closing, please refer to the Interest Rate and Annual Percentage Yield (APY) chart in your Personal Savings Account Fees and Disclosures agreement for APY information pertaining to your account.
You cannot open a Laurel Road Linked SavingsSM account and link it to an existing Laurel Road student loan. To open a Linked Savings account, you would need to refinance your existing Laurel Road student loans; however, you may receive a rate offer higher than your current rates.
All members who open a Laurel Road Linked Savings during their new student loan refinancing will receive an introductory 2-month 0.25% interest rate discount at account opening. The interest rate discount applied for each month thereafter will vary based on the average prior monthly balance held in the savings account. Click here to view the Laurel Road Linked Savings discount tiers. In addition to the Linked Savings discount, members can also receive any other interest rate discounts they may be eligible for, such as Autopay and/or eligible affiliation discounts.
Laurel Road Linked SavingsSM is an FDIC-insured savings* account with a $0 minimum balance to open and $0 monthly maintenance fee. Laurel Road members that close on a new student loan refinance and open a Linked SavingsSM account are eligible for an interest rate discount on their student loan that adjusts monthly based on the savings account average balance. To take full advantage of rate discounts, members need to fund the savings account. Click here to see the full Linked Savings discount table. Click here to view rates and fees for the Laurel Road Linked Savings.SM* 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.