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Refinancing plus Laurel Road Linked Checking℠

Lower your refi rate when you add a new checking account.

Open a Laurel Road Linked Checking account during refinancing and you can access student loan refi rates as low as 1.37%% variable Annual Percentage Rate (APR) when you set up qualifying monthly direct deposits.1

View Laurel Road Checking Rates & Fees

If you refinance a federal student loan with Laurel Road, you will no longer qualify for existing or future benefits offered by the federal government to federal student loan holders. Please consult www.studentaid.gov for the most current information about any federal student loan benefits.

For a limited time, get a $300 bonus with qualifying direct deposits.2 Learn more.

Mobile Check Deposit

Deposit your checks on-the-go.

40,000 No-Fee ATMs

Locate 40,000 KeyBank & All-point ATMs.3

Send Money with Zelle®

Easily send money to family & friends.4

Bank Securely

Deposits are FDIC insured up to $250,000. KeyBank, N.A. Member FDIC.5

Online Bill Pay

Pay your bills from anywhere, anytime.

No Monthly Fees

No monthly maintenance fees or minimum balance requirements.

How it Works

Tackle student loan debt with direct deposit.

When you switch to Laurel Road Linked Checking during student loan refinancing, you can start saving right away with an introductory 0.25% off your interest rate for the first three months.6

After that, your interest rate discount will vary based on your total monthly direct deposit amount – you could lower your student loan refinancing rate by up to 0.55%.6

Direct Deposit Amount 3-Month Intro Discount Post-Intro Discount*
$0 – $2,499 0.25% 0.00%
$2,500 – $7,499 0.25% 0.25%
$7,500+ 0.25% 0.55%

*Potential discount after three months and qualifying monthly direct deposits

Apply Now

Linked Checking Welcome Bonus

Earn a $300 bonus with your first direct deposit.

For a limited time, you can earn a $300 bonus when you make qualifying ACH direct deposits totaling $2,500 or more within 60 days of opening your new Laurel Road Linked Checking account.2

Laurel Road Mobile App

Bank On-the-Go. Anytime. Anywhere.

Get fast, easy, secure access to your Laurel Road accounts in one place: view account balances and activity, send and receive money with Zelle®, deposit checks, manage bill payments, and more—all available 24/7, right from your mobile device.

Apple App Store | Google Play Store

Use this slider to see how your student loan rates could drop when you open a Laurel Road Linked Checking account.

Laurel Road Checking Monthly Direct Deposits

  • $0
  • $2,500
  • $7,500+
5 year
7 year
10 year
15 year
20 year
Fixed APR
Variable APR
5 year
7 year
10 year
15 year
20 year
Fixed APR
With Discounts
Variable APR
With Discounts
Check My Rates

APRs shown include a 0.25% interest rate discount for AutoPay.7 Variable APRs are subject to increase after consummation. View Payment Examples Below.

APRs shown include the initial 3-month 0.25% interest rate discount for opening a Laurel Road Checking account. Use the slider to calculate the discounted rate for maintaining monthly direct deposits [$0 = 0.00%, $2,500 = 0.25%, $7,500+ = 0.55%]. All rates shown include the Autopay 0.25% interest rate discount.7 APRs are subject to increase after consummation. View Payment Examples Below.

Frequently Asked Questions

Questions? We've got answers.

Personal Checking Account Fees and Disclosures

Effective September 16, 2022
Laurel Road, a Brand of KeyBank National Association, Member FDIC

Laurel Road CheckingSMAccount
Laurel Road Loyalty CheckingSM Account
Laurel Road Linked CheckingSM Account    

Account Opening and Usage

All fees, services and rates are applicable to all three accounts mentioned above.

Minimum Deposit Needed to Open Account $0.00
Monthly Maintenance Service Charge $0.00
Pays Interest Yes Variable rate of interest. See the “Interest Information” section below.
ATM Fees* $0.00 Each time you use a KeyBank ATM
$0.00 Each time you use your KeyBank Debit Mastercard at an ATM within the Allpoint ATM Network
$3.00 Regional ATM Withdrawal Fee or Regional ATM Inquiry Fee: charged separately for each transaction at another bank’s ATM within the U.S. Assessed at the end of each statement period. Transactions include balance inquiries, transfers, cash withdrawals, and purchases made at an ATM.
$5.00 International ATM Withdrawal Fee or International ATM Inquiry Fee: charged separately for each transaction at an ATM outside the U.S. Assessed at the end of each statement period. Transactions include balance inquiries, transfers, cash withdrawals, and purchases made at an ATM.
$1.50 ATM Key Mini Statement Fee
Foreign Transaction Fee 0% Fee charged on the amount posted for each Debit Card or ATM transaction processed in a foreign currency or outside the U.S., in addition to any fee added by a network or charged by an ATM owner. Exchange Rate may affect posted amount.
Chargeback Fee $15.00 For each check deposited to your Account that is returned to us unpaid. Assessed at the end of each statement period.
Stop Payment Charge $34.00 For each stop payment or to renew a stop payment on a check or withdrawal or on multiple checks in sequence
Charge for Account Early Close- out $25.00 For closing your Account within 180 days after opening
Other Service Charges Please consult the Other Service Charges section of this document for a list of additional service charges

*Please refer to the KeyBank Disclosure Statement and Terms and Conditions for Electronic Fund Transfer Transactions for additional information.

Overdraft Services

Standard Overdraft Services1 We MAY choose to pay/process certain items into overdraft. You may ask us not to pay/process any of these items into overdraft:

  • Checks
  • Recurring debit card transactions
  • Preauthorized automatic debits
  • Telephone initiated transfers
  • Electronic transfers and
  • Other items as a service to you

We DO NOT authorize and pay the items listed below into overdraft. However, you may ask us to pay these items into overdraft:

  • Automated Teller Machine (ATM) transactions
  • Everyday debit card transactions

If we DO NOT authorize and pay an overdraft, your transaction will typically be declined.

Overdraft Item (OD) and Return Item (NSF) Charges Per Item Charge No Overdraft Item Charge or Recurring Overdraft Service Charge will be assessed if your end of day overdraft balance is $20 or less.
Overdraft Item (OD) Charge $20.00 Per overdraft item when the end of day overdraft balance is greater than $20
Daily OD and NSF Charge Cap 3 Based on transactions posted to the account each day2
Monthly OD Charge Cap 20 Based on transactions posted to the account within the monthly statement period3
Recurring Overdraft Service Charge $20.00 If your end of day account balance remains overdrawn by more than $20 for five consecutive business days
Overdraft Protection Plans4  



Cost per transfer from your Laurel Road:

  • Savings account
  • Credit Card
Return Item (NSF) Charge $00.00
  1. Paying your Account into overdraft is done at Laurel Road’s discretion.
  2. In rare cases, OD and/or NSF fees may not post on the same day as the transaction which triggers the fee(s). As a result, more than 3 OD or NSF fees may post to your account on a single day, but you will never be assessed fees for more than 3 transactions posted per day.
  3. If more than 20 OD Charges are incurred within the monthly statement period, we may, in our discretion, continue to pay items into overdraft, but you will not be assessed additional OD Charges for such transactions.
  4. Please see your respective disclosure statement for more information.

^If you have NOT asked us to pay ATM transactions and everyday debit card transactions into overdraft, the following information applies to all other types of transactions:
If we pay an item into overdraft during each of four consecutive statement periods, AND during your next statement period an item is presented that Laurel Road pays into overdraft, the standard overdraft service provided with your Account will be terminated. Items will no longer be paid into overdraft when you have insufficient funds in your Account. The standard overdraft service will not be reinstated until the first day after the end of three consecutive statement periods following the day we terminated the service AND your Account has a positive available account balance.

Processing Policies^^

Posting Order:
The order in which specific deposit and withdrawal transaction categories post to your Account.
Sort order for primary posting categories each business day: We post ATM and debit card transactions based on authorization date/time; if authorization date and time are not available, we use settlement date and time. We post checks, if applicable, in check number order. For all other types of items within each posting category we will post items from lowest dollar amount to highest dollar amount.
Deposit Hold Policy:
When funds deposited to your  Account become available
For all personal deposit accounts our policy is to make funds from cash and check deposits available on the first business day after the day we receive the deposit with certain exceptions.

^^Please see the Deposit Account Agreement and Funds Availability Policy for details.

Dispute Resolution

Dispute Resolution Agreement Please see the Deposit Account Agreement and Funds Availability Policy for the Arbitration Provision which includes important information concerning your right to reject arbitration.

Interest Information

Balance Tier Interest Rate¤ Annual Percentage Yield (“APY”)¤
$.01 – $2,499.99 0.010 % 0.01 %
$2,500 – $4,999.99 0.010 % 0.01 %
$5,000 – $9,999.99 0.010 % 0.01 %
$10,000 – $24,999.99 0.010 % 0.01 %
$25,000 – $49,999.99 0.010 % 0.01 %
$50,000 – $99,999.99 0.010 % 0.01 %
$100,000 – $249,999.99 0.010 % 0.01 %
$250,000 – $499,999.99 0.010 % 0.01 %
$500,000 – $999,999.99 0.010 % 0.01 %
$1,000,000 and above 0.010 % 0.01 %

Please note that there could be more than one interest rate balance tier earning interest at the same interest rate.

¤The Interest Rates quoted and corresponding Annual Percentage Yields (“APY”) are those which were in effect on the day the Account was opened or an inquiry was made. The applicable Interest Rate applies to the entire balance in the Account. Rates are guaranteed only to the extent specified in this Personal Checking Account Fees and Disclosures.

Current Interest Rate information may be obtained by contacting Laurel Road customer service at 1-833-427-2265, or writing Laurel Road

P.O. Box 191, Bridgeport, CT 06601. For clients using a TDD/TTY device, please call 1-800-539-8336.

This Account pays interest at a variable interest rate and rates may vary based on the balance in your Account. We may change the interest rate and APY at our discretion and as often as daily. There are no limits on the amount that the interest rate or APY may change.

The Daily Balance is the balance in your Account each day. 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 the 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, like 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.

If you close your Account within ten business days after the last interest payment date, the accrued but not yet credited interest will not be paid. If you close your Account after the tenth business day, interest accrued up to, but not including, the day of withdrawal will be paid at closing.

Other Service Charges

Statement Charges
Paper Statement Fee $0.00 To receive your Account statement on paper instead of electronically. This charge is assessed per monthly statement period.
Returned Statement Handling Charge $10.00 For statements returned to the bank due to an incorrect address.
Monthly Statement Information Safekeeping Fee $10.00 For each month that follows (months two through a maximum of 12 consecutive months) where a current address has not been provided.
Charge for Each Additional Copy of Statement $6.00 Fee for each copy of a statement requested from a bank representative.
Duplicate Statement Service Charge $10.00 For a duplicate copy of your deposit account statement. For combined deposit statements only your primary Account will be assessed the monthly charge.
Statement Special Handling Service Charge $10.00 For special handling of your deposit account statement per monthly statement period. For combined deposit statements only your primary Account will be assessed the monthly charge.
Miscellaneous Other Charges
Card Replacement $0.00 Standard delivery: 3-5 business days
$25.00 Rush delivery: 2-3 business days
Inactive Fee and Interest Reduction $0.00 Your Account will be charged the fee and your interest rate will be changed to .01% if:

  • the Account balance is less than $5000.00 and
  • there is no customer-initiated activity for 3 months.

This fee is in addition to any other normal account service charges incurred. A notice will be mailed prior to your Account being classified as inactive.
You may avoid the inactive classification by making a deposit or withdrawal (includes recurring ACH transaction activity).

Assisted Account to Account Transfers $3.00 Charge will be assessed to the Account from which the funds are transferred for transfers between accounts completed by a Bank representative.
Fedwire Service Charge $20.00
Each Incoming Domestic and International
Each Domestic Outgoing
Each International Outgoing
Repetitive Outgoing Wire Transfers Repetitive wire transfers are those in which debit and credit transfer parties remain the same (date and dollar amount may be different) and will be discounted $10.00 from the standard Fedwire Service Charge prices.
Charge for Copy of Items No Charge



For digital images of checks held by KeyBank:

  • 1-12 per year
  • 13 and above per year


For Imaged Items Statement:

  • For each digital image of a check

This charge may appear as Charge for Misc Photocopies.





Litigation Fee Up to $100.00 For processing court orders served against you such as Garnishments, Levies, or Delinquent Child Support Orders.

Limits on Dollar Amounts of Card Transactions

Limits are based on the card you use. Separate withdrawal and purchase limits apply. Total withdrawals or purchases in any one day may not exceed the separate Daily Limits for a single Card number, regardless of the number of Accounts that a single Card may access. These are the standard limits that come with your card, but you can request a different ATM or Purchase Limit.
Debit Cards Daily Signature/PIN Purchase Limit Daily ATM Withdrawal Limit Allpoint ATM Network Eligible
Laurel Road World Debit Mastercard ® $10,000.00 $1,000.00 Yes
At some types of ATMs, the withdrawal amount may be limited due to machine constraints, and multiple transactions may be necessary to obtain the total amount desired.

This Personal Checking Account Fees and Disclosures (“Disclosure”) provides information about deposit accounts we offer. While this Disclosure is accurate as of the effective date above, specific product features may be changed from time to time. A copy of the current Disclosure may be obtained upon request by contacting us.

Your Account is also subject to our Deposit Account Agreement and Funds Availability Policy.

How to get more information:

  • Visit us at laurelroad.com
  • Call us at 1-833-427-2265
  • TTY/TDD 1-800-539-8336


All credit products are subject to credit approval

The calculator on this page compares an individual's current student loan to a student loan refinanced with Laurel Road. The calculator assumes: (1) the current loan is being repaid under a standard repayment plan where the individual makes consecutive monthly payments based on the number of monthly payments remaining on the loan as inputted by the user; (2) the current loan has a fixed interest rate over the remaining term of the loan; and (3) that the monthly payment amount the user inputs pays off the loan in the number of monthly payments remaining.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, legal, financial, or tax advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Calculators do not include the fees and restrictions that certain products may have. This calculator does not indicate whether you would qualify for a Laurel Road loan. Please visit the applicable banking product pages on laurelroad.com for specific terms and conditions.

If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of any federal benefits, including but not limited to: COVID-19 payment relief, Income Based Repayment (IBR), Pay As You Earn (PAYE), or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit https://studentaid.gov.

  1. Annual Percentage Rate (APR) shown are as of September 23, 2021 and subject to increase without notice. Based on applications between July 2019 to June 2021, approximately 11% of applicants qualified for our lowest advertised rate. Lowest rate quoted above assumes excellent credit and low debt, housing, and alimony expenses relative to income. Otherwise, a higher rate will apply. Rate shown above includes a 0.55% discount for having a qualifying direct deposit of at least $7,500 credited to a Laurel Road Checking account for every statement period of the term of the loan, a 0.25% discount for AutoPay, and a loan with a term of 60 months. Variable APRs are subject to increase after consummation. Click here for more information on the Laurel Road Checking account and student loan rate discounts.

  2. Effective February 1, 2022, you must open a Laurel Road Linked Checking account simultaneously while refinancing your student loan with Laurel Road by 12/31/22 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Linked Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements. Click here for current Laurel Road Checking Rates. Normal account service charges and miscellaneous charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying account and per individual. The value of the bonus will be reported to the IRS on Form 1099-INT. If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee. Accounts overdrawn or closed at the time of bonus payment are not eligible. Offer is subject to cancellation without notice and cannot be combined with any other bonus offer. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

  3. No surcharge when using your Laurel Road debit card at KeyBank ATMs or Allpoint ATMs located within the 50 United States and Washington D.C. Click Here to Find Your ATMs

  4. Available to bank account holders in the U.S. only. If your recipient is not yet registered with Zelle, it could take between 1 and 3 days once they complete registration. To receive money in minutes, the recipient’s email address or mobile number must already be registered with Zelle.

    Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

  5. Deposits are insured up to the maximum allowable limit. Laurel Road is a brand 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.

  6. The Laurel Road Linked Checking discount is available to borrowers who open a Laurel Road Linked Checking account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% rate discount for their first three monthly billing cycles. Starting with the fourth billing cycle and continuing with each billing cycle thereafter, the rate discount applied to each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Linked Checking account during the preceding calendar month; 0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. To continue to receive the discount for the fourth billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Linked Checking account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Laurel Road Linked Savings discount. For more information on the Laurel Road Checking Account visit www.laurelroad.com/refinance-student-loans/checking/#rates-fees-jump.

  7. 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 0.25% AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

  8. Fees may reduce earnings on the account. National average Annual Percentage Yield (APY) reported by the FDIC as of 9/19/2022 (fdic.gov/regulations/resources/bankers/national-rates).

  9. The variable Annual Percentage Yield (APY) indicated is accurate today only and is subject to change before or after account opening. No minimum balance is required to earn the APY. Fees may reduce earnings on the account. Click here for current rates.

Estimated Student Loan Refinance Payment Examples

Assumptions: Repayment examples below assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount or the Laurel Road Checking discount.

Fixed Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year
7 Year
10 Year
15 Year
20 Year


Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year
7 Year
10 Year
15 Year
20 Year

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.

Variable Rates: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.

This information is current as of September 23, 2021. Information and rates are subject to change without notice.

Terms and Conditions


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).

Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school.

Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.


For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing.


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.