Laurel Road Announces Checking Account Where Monthly Direct Deposits Can Lower Monthly Student Loan Payments

New Laurel Road Checking account uses qualifying direct deposits to lower student loan interest rates by as much as 0.55%

Gone are the days where banking requires you visit your local branch in order to access your money. For many individuals looking to open a checking account, saving on student loan interest just got a lot easier. With Laurel Road, a digital banking platform and brand of KeyBank N.A., members can now save time and money with a new checking account that takes everyday banking even further — by helping them save money on student loan refinancing with a linked Laurel Road Checking℠ account.

Throughout the pandemic, online banking has become even more important, providing users the ability to bypass face-to-face contact and interaction without sacrificing exceptional customer service. This, coupled with the ability to bank from anywhere, has created an increased popularity around mobile apps that provide secured online banking and customized features.  

Beyond straightforward banking, many checking accounts are typically limited to the ability to earn a small amount of interest or the ability to access a direct deposit paycheck a day or two early. However, Laurel Road Checking℠ combines the power of effortless, online checking with the ability to save every month on student loan payments—just by setting up qualifying monthly direct deposits.

In addition to offering the ability to save on student loan payments based on everyday banking, Laurel Road Checking℠ also offers the features customers want in a superior checking account, such as access to 40K withdrawal fee free ATMs and no monthly maintenance fees.

Key features and benefits of bundling a Laurel Road Checking Account + Student Loan Refinance:

  • Save 0.25% off the interest rate of your student loan refinanced through Laurel Road for the first three months when opening your Laurel Road Checking simultaneously
  • After that, get 0.25% off the interest rate of student loans refinanced through Laurel Road with qualifying monthly direct deposits of at least $2,500, or 0.55% off with qualifying monthly direct deposits of at least $7,500
  • No monthly account maintenance fees
  • No minimum balance requirements
  • No foreign transaction fees
  • Mobile and online banking
  • Access to over 40,000 withdrawal fee free KeyBank/Allpoint ATMs nationwide
  • A brand of KeyBank N.A., Member FDIC
  • Access to exclusive brand deals through Laurel Road Perks!

Visit for more information and full terms and conditions.

Source: Laurel Road

About Laurel Road

Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $7 billion in federal and private school loans.

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