Laurel Road is a digital banking platform and brand of KeyBank. It offers a variety of banking and lending solutions including refinancing for student loans, mortgages, personal loans, and even a student loan cashback credit card and more. The bank advertises its services at laureload.com.
3.0 out of 5.0 stars
Laurel Road Summary
Whether you’re consolidating debt, making home improvements, or just need some extra cash, a personal loan can be a great solution. But with so many lenders out there, it can be tough to know where to turn.
Laurel Road is one option that has been getting a lot of attention lately. But is this lender right for you? Here’s a closer look so you can make an informed.
After careful examination of their website and terms and conditions, we discovered some interesting facts. Here are just a few of the things that caught our attention.
- APRs can vary from as low as 9.24% to as high as 24.50%.
- Â Rates are subject to change.
- The company offers loan terms of 3-5 years to qualified applicants.
- All personal loans are unsecured.
- Rates include a 0.25% AutoPay/EFT Discount when you sign up for monthly automatic payments.
- The interest rate on your loan will be determined by several factors, including credit history, current debts, length of residency, and other factors.
- There is a $5,000 minimum and $35,000 maximum amount that can be loaned for expenses such as auto purchase, business, green loan, moving expenses, and others. The maximum loan amount for debt consolidation, major purchases, and home improvement is $45,000.
What is Laurel Road?

Laurel Road is a digital banking platform that offers a variety of products, but none are FDIC-insured or guaranteed. This includes student loans, mortgages, personal loans, and credit cards. They have been in business since 2013 and are headquartered at 1001 Post Rd Darien, CT. You can reach them at (800)361-5363.
Laurel Road has an A+ rating from the Better Business Bureau (BBB). However, the company is not accredited by the BBB. The company has 0 reviews and 2 complaints closed in the last 3 years.
How does Laurel Road work?
Applying for a loan with Laurel Road is quick and easy – you can do it entirely online, and receive conditional rates in as little as two minutes.
To start, simply fill out a short application with some basic information about yourself and your employment history. Once you authorize a soft credit pull, they will provide you with conditional interest rates based on what you’ve provided.
Next, upload your supporting documents to their website’s dashboard to complete your application. Once they have received everything, they will underwrite your loan and provide you with final rates and terms.
Then, select your loan type and term; you can e-sign all necessary disclosures and promissory notes in their dashboard. After that, disbursement of your loan will occur on the date shown in your final Truth in Lending statement.
Although Laurel Road personal loans cannot be used for education-related expenses, they can be useful for consolidating high-rate debt, making home improvements, or financing major family purchases.
How to qualify for Laurel Road?
You may be eligible for a Laurel Road personal loan as long as you are a U.S. Citizen or permanent resident with a valid I-551 card. Your credit history and financial profile will also be taken into account to determine loan eligibility. A soft credit pull will be performed to provide you with conditional rates so that you can check your eligibility without affecting your credit score.
Laurel Road BBB Reviews
Although the Better Business Bureau (BBB) has given laurel Road an A+ rating, the company is not accredited by them. In the last three years, there have been 0 reviews and 2 complaints closed.
Here are some of the reviews:
Initial Complaint 09/07/2021
Complaint Type: Problems with Product/ServiceStatus: ResolvedMore info
1.0 out of 5.0 stars
I opened a Laurel Road ******* **** account in June because I was told by the customer service representative that a balance transfer qualifies for a $500 cashback bonus that was being offered. The customer service agent opened the account and performed the balance transfer for me without noticing that it would not actually qualify for the cashback bonus. The transfer cost $300.
Two months later I called to find out why I was not seeing the $500 bonus and was informed by a different agent that balance transfers do not qualify. I have made 3 phone calls with no response. Each time they say they are escalating it to a manager. Around this time I have also been blocked from entering my account, receiving an error message when I try to log in. I have received an email about that issue that says the problem is resolved (the problem is not resolved). The minimum acceptable resolution is a refund of the $300 cost of transferring my ****** **** balance to Laurel Road.
Laurel Road FAQs
How much does Laurel Road charge?
At Laurel Road, they offer competitive APRs that can range from 9.24% to 24.50%. Their rates are subject to change, and they don’t charge any application, origination, or disbursement fees.
Are there any pre-payment penalties?
At Laurel Road, there are no prepayment penalties for those who choose to pay off their loan faster than originally scheduled.
How does Laurel Road affect your credit?
At the beginning of the application process, they’ll do a soft credit pull to give you some idea of what interest rates and loan terms you may be qualified for. This won’t affect your credit score at all.
However, once you decide to go ahead with the loan application, they will need to do a hard credit inquiry in order to get a full view of your credit history and offer you final rates. These hard inquiries are common when applying for loans and can lower your credit score.
How to cancel Laurel Road?
Canceling your personal loan application is only possible before the funds are dispersed into your bank account. Once the loan amount has been credited, it is not possible to reverse or cancel the transaction. Therefore, it is important to be certain of your decision before applying for personal loans. This way, you can avoid any cancellations or changes down the line.

Do you find it difficult to make ends meet? Here’s some advice that might help you get back on track.
- Creating and sticking to a budget is a great way to stay on track.
- Another option is to speak with a financial advisor who can help you understand your options and develop a plan that works for your unique circumstances.
- And finally, don’t worry too much if you’re already in debt. Many companies are willing to work with customers to create a more manageable payment plan. So reach out to their customer service team for more information.
Is Laurel Road legit or a scam?
In today’s digital world, banking platforms are becoming increasingly popular. Laurel Road is one such platform that offers a wide range of products and services through KeyBank. Although the company has an A+ rating, it is not accredited by the BBB. The company has only 2 complaints and 0 reviews.
When considering taking out a loan, it is important to explore all of your options and compare rates. Be sure to read customer reviews before making a decision, so that you can choose the best option for you. This way, you can avoid taking out a loan that you cannot afford.
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Laurel Road Review
In today’s digital world, banking platforms are becoming increasingly popular. Laurel Road is one such platform that offers a wide range of products and services through KeyBank. Although the company has an A+ rating, it is not accredited by the BBB. The company has only 2 complaints and 0 reviews.
When considering taking out a loan, it is important to explore all of your options and compare rates. Be sure to read customer reviews before making a decision, so that you can choose the best option for you. This way, you can avoid taking out a loan that you cannot afford.