Laurel Road High Yield Savings®
Make your savings work harder.
4.50%
Annual Percentage Yield (APY).1
- No minimum balance and $0 costs to open.
- Earn 10x the national average.2
- Deposits are FDIC Insured.3
Discover a more convenient way to save.
$0 monthly account maintenance fees
Save more with no monthly maintenance fees.
Deposits are FDIC-insured3
Deposits are FDIC insured up to $250,000.
No minimum balance to open
Get started with no minimum balance.
High Yield Savings Calculator
Estimate how much interest you could earn with a Laurel Road High Yield Savings account compared to the national average APY for other savings accounts.
Interest You Could Earn
This calculator is for illustrative purposes only. Calculations are estimates of expected interest earned and actual results may vary, based on various factors such as leap years, timing of deposits, rounding, and variation in interest rates. Calculated values assume that principal and interest remain on deposit and are rounded to the nearest dollar.
All APYs are subject to change at any time before or after account opening. Laurel Road Annual Percentage Yield (APY) as of XX/XX/XX. National average APY reported by reported by the FDIC as of XX/XX/XX.
A high yield savings account is a deposit account that typically pays more interest than an average savings account.
No, there is no minimum deposit to open this account.
Like most high yield savings accounts at other banks, the Laurel Road High Yield Savings account APY is a variable rate (rather than a fixed rate) and is subject to change at any time. While Laurel Road offers competitive rates that are consistently higher than the national average, variables such as the federal funds rate and the banking marketplace could lead to changes in future rates offered by Laurel Road and other banks. Our current APY can be found here.
While it can be difficult to predict how rates will increase or decrease in the future, one can look for announcements by the Federal Reserve to understand if potential rate fluctuations are on the horizon.
To learn more about how the APY on your high yield savings account is determined, see this resource article Federal Rate Changes and Your High Yield Savings Account.
As part of a national bank, Laurel Road relies on advanced data protection, strong encryption and continual monitoring to protect your account and keep your money secure. Additionally, your savings deposits are FDIC-insured up to $250,000.
Laurel Road is a brand of KeyBank N.A. KeyBank, N.A. is Member FDIC. To learn more about FDIC insurance, contact the FDIC toll-free at 1.877.ASK.FDIC (1.877.275.3342) or visit www.fdic.gov.
There are several ways to add money to your Laurel Road savings or checking account.
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- Start a transfer from your other bank account to your new Laurel Road account by using your Routing Number and Account Number.
- Send a domestic wire transfer from another bank. This is the best option for making large transfers. Reach out to your other bank to initiate a wire transfer to your Laurel Road account.
- Set up direct deposit. Visit our Direct Deposit page to learn more about how to enroll.
- Make a mobile check deposit. With the Laurel Road Mobile Banking app, you can deposit a check by simply taking a picture.
- Send us a check by US mail. For deposits into a checking account, mail the check and a deposit slip. You can find a deposit slip in the checkbook if you ordered one for your account. For deposits into a savings account, mail the check with your Laurel Road savings account number and routing number written in the memo section. Send your check (and deposit slip) to:Standard (USPS) Mail
Laurel Road
P.O. Box 5998
Cleveland, OH
44101-0998Overnight/Express Mail:
Laurel Road
3 Corporate Drive
Ste. 420
Shelton, CT 06484
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You can also fund your account in the following ways; however, please be aware that these methods are subject to Laurel Road mobile deposit and external transfer limits:
- Make a mobile check deposit. With the Laurel Road Mobile Banking app, you can deposit a check by simply taking a picture.
- Go to Laurel Road Online Banking and set up an external transfer from a non-Laurel Road bank account.
Personal Savings Account Fees and Disclosures
Effective Date October 24th, 2024
Laurel Road is a brand of KeyBank N.A. All products are offered by KeyBank N.A. Member FDIC. ©2024 KeyCorp® All Rights Reserved
Laurel Road High Yield Savings® Account
Interest Information
| Balance Tier | Interest Rate | Annual Percentage Yield (“APY”)* |
| $.01 – $2,499.99 | Interest Rate 4.69% | APY 4.80%* |
| $2,500 – $4,999.99 | Interest Rate 4.69% | APY 4.80%* |
| $5,000 – $9,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $10,000 – $24,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $25,000 – $49,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $50,000 – $99,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $100,000 – $249,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $250,000 – $499,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $500,000 – $999,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $1,000,000 – $1,999,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $2,000,000 – $4,999,999.99 | Interest Rate 4.880% | APY 5.00%* |
| $5,000,000 and above | Interest Rate 4.880% | APY 5.00%* |
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 as specified above. The applicable Interest Rate applies to the entire balance in the account. Rates are guaranteed only to the extent specified in this Personal Savings Account Fees and Disclosures.
This Personal Savings Account Fees and Disclosures (“Disclosure”) provides information about deposit accounts we offer. While this Disclosure is accurate as of the effective date noted 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. Current Interest Rate information may be obtained by contacting Laurel Road customer service at 1-833-HCP-Bank (1-833-427-2265), or writing Laurel Road P.O. Box 191, Bridgeport, CT 06601. Dial 711 for TTY/TRS.
All savings accounts pay interest at a variable rate and rates may vary based on the balance in your account. Refer to the Interest Rate and Annual Percentage Yield (APY) chart for interest rate and APY information pertaining to 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 interest rate and APY for this account may vary based on multiple factors including, but not limited to: your overall relationship with the bank as defined by other accounts you have, the balances in all of your accounts, account location, account usage and other bank services you use. 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 365 days. 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.
If you close your account within ten (10) 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.
Laurel Road High Yield Savings Account
The minimum deposit required to open this account is $0.00. This account pays a variable rate of interest as described in the “Interest Rates & Payments” section. The monthly Maintenance Service Charge is $0.00.
Your canceled checks and digital images of your canceled checks will be held by KeyBank in our secure system. We reserve the right to limit opening deposits in this account to $500,000.00 per account.
Additional Account Information
In addition to your specific account service charges described above, your Account may also incur service charges as described in the OTHER CHARGES section listed at the end of this document. Your account is also subject to our Deposit Account Agreement and Funds Availability Policy.
The term Withdrawal means any check, any preauthorized transfer or withdrawal (including any electronic debit or automatic payment), and any telephone transfer or wire transfer of funds from your account. The term checks/withdrawals paid as referenced in this Disclosure means a check, or each withdrawal made in a KeyBank branch. Deposit means a deposit of funds into your account, including any electronic direct deposit, automatic deposit, or telephone transfer.
The Daily Balance is the balance in your account each day. The Average Daily Balance is calculated by adding the Daily Balance in your account for each day of the statement period and dividing that amount by the number of days in the statement period.
We provide detailed statements for all accounts (except passbook savings). Check safekeeping is required. Check safekeeping means that your canceled checks and other items are not returned with the statement but are stored for you on microfilm records. If you request a copy of a canceled check or item, we will send you the copy (refer to the OTHER CHARGES section for applicable service charges), provided that the check or item was presented for payment within the time period during which we maintain copies of checks (normally seven years).
Service Charges in Connection with an Account:
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:
We DO NOT authorize and pay the items listed below into overdraft. However, you may ask us to pay these items into overdraft:
If we DO NOT authorize and pay an overdraft, your transaction will typically be declined. |
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Key Coverage Zone® |
No Overdraft Item Charge or Recurring Overdraft Service Charge will be assessed if your end of day overdraft balance is $20.00 or less. |
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Overdraft Item (OD) and Returned Item Charges |
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| Overdraft Item (OD) | $20.00 | Per each overdraft item when the available balance* is overdrawn by more than $20.00 |
| Daily OD Charge Cap | 3 | Based on transactions posted to the account each day2 |
| Monthly OD Charge Cap | 20 | Based on transactions posted to the account each day3 |
| Recurring Overdraft Service Charge | $20.00 | If your end of day account balance remains overdrawn by more than $20.00 for five consecutive business days4 |
| Return Item Charges | $00.00 |
1Paying your account into overdraft is done at KeyBank’s discretion.
2In rare cases, OD Charges may not post on the same day as the transaction which triggers the fee(s). As a result, more than 3 OD Charges may post to your account on a single day, but you will never be assessed fees for more than 3 transactions posted per day.
3If more than 20 OD Charges are incurred within the monthly period, we may, in our discretion, continue to pay items into overdraft, but you will not be assessed additional OD Charges for such transactions.
4This fee is based on end of day current (Ledger) balance.
Current (ledger) balance shows the total amount of money in your account at the end of the day, but the total amount may not be ready for use.
*Available balance is the amount of money in your account available for use. This balance does reflect deposit and withdrawal transactions that have not yet posted.
For more detail on transaction posting please reference section 6 of your Deposit Account Agreement and Funds Availability Policy.
Other Charges
| Returned Statement Handling Charge | $10.00 | For statements returned to the Bank due to an incorrect address. Fee is applied when Key receives a returned statement and is processed prior to the Posting Order process described in the Deposit Account Agreement and Funds Availability Policy. |
| Charge for each Additional Copy of Statement | $6.00 | Fee for each copy of a statement requested by a Bank representative |
| Fedwire Service Charge | $20.00 $30.00 $45.00 |
Each Incoming Domestic and International Each Domestic Outgoing Each International OutgoingFee is assessed with the wire transfer |
| 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 Fee is applied at the time of the request and is processed prior to the Posting Order process described in the Deposit Account Agreement and Funds Availability Policy |
| Chargeback Fee | $00.00 | For each check deposited to your account that is returned to us unpaid. |
| Legal Order Processing Fee | Up to $100.00 | For processing court orders served against you, such as Garnishments, Levies, or delinquent Child Support Orders Fee is applied when Key processes Legal Order items and is processed prior to the Posting Order process described in the Deposit Account Agreement and Funds Availability Policy |
| Book-to-Book Wire Transfer(s) | $4.50 | Domestic Outgoing Wire to a Key account Domestic Incoming wires to Key accounts are not charged a fee Fee is assessed with the wire transfer |
| Repetitive Outgoing Wire Transfers | Repetitive wire transfers are those in which debit 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. |
102024COMP-1890
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