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Fixed APRs across different terms
Eligible for discount of 0.25% when monthly payments are made automatically from a bank account.1
Money disbursed directly to your bank account
The calculated payments are only an estimate. Your actual payments will depend on the actual amount for which you are approved. Eligibility and rates offered will depend on your credit profile and other factors. Rates in the above table include a 0.25% discount for making automatic payments from a bank account.1
All U.S. Citizens or permanent residents with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date) are eligible to apply for a Laurel Road Personal Loan. Loan eligibility also depends on your credit history and financial profile. If eligible, Laurel Road will perform a soft credit pull to provide you with conditional rates, so you can check your eligibility with no impact to your credit score.
Laurel Road recognizes that the best borrowers are those that carry lower risk. We have a team of financial experts that work to assess the rates we can offer based on risk criteria and since we work with credit worthy borrowers, we are able to offer favorable rates.
Our personal loans are unsecured.
Yes, if you set up automatic payments from a bank account via electronic fund transfer (EFT) Laurel Road will lower your interest rate by 0.25% (the AutoPay/EFT Discount). That lower interest rate will continue as long as you make payments via EFT. When applied, the 0.25% AutoPay/EFT Discount will reduce your monthly payment. Typically, rates advertised on this site include the 0.25% AutoPay/EFT Discount.
AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The discount will be reflected in your monthly payment.
|Fixed Rate Loans|
|Term||Interest Rate||APR||No. of Payments||Monthly Payment||Total Payments|
|3 Year||8.26% – 20.32%||8.26% – 20.32%||36||$315 - $374||$11,340 - $13,464|
|4 Year||9.42% - 21.71%||9.42% - 21.71%||48||$251 - $314||$12,048 - $15,072|
|5 Year||10.36% - 22.81%||10.36% - 22.81%||60||$215 - $281||$12,900 - $16,860|
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of September 1, 2020. Information and rates are subject to change without notice.
PERSONAL LOAN – RATE DETAILS, TERMS AND CONDITIONS
There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.
Minimum loan amount of $5,000. Maximum amount of $35,000 for loan purposes of Auto Purchase, Business, Green Loan, Moving Expenses, and Other. Maximum loan amount of $45,000 for loan purposes of Debt Consolidation, Major Purchase, and Home Improvement. Additional proof of use documentation is required to be eligible for loan amounts in excess of $35,000.
Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).