Laurel Road Bank Promotions: $440 for Checking

Laurel Road built a name for itself as a student loan refinancing company but they’ve recently expanded into online banking as well.

They now offer a full suite of financial services, from credit cards to mortgages to traditional banking.

Today, I’m excited to share with you a new offer where you can get up to $440 for opening a new  Laurel Road Loyalty Checking account.

Laurel Road Loyalty Checking – up to $440

The bonus on their Laurel Road Loyalty Checking is up to $440 and to get it, you have to satisfy a few simple conditions.

First, you can earn $200 when you open an account and make qualifying ACH direct deposits totaling $2,500 or more within 60 days. This is, by itself, an already great bonus offer for something so simple but it gets better.

Then, you continue earning a $20 cash reward for every month you make qualifying ACH direct deposits during the first 12 months, and $10 for every month after that for as long as you have the account.

That’s up to $440 in your first year and you continue to get $10/month after that. For as long as your account is open. So, that’s another $120 a year.

No minimum deposit needed to open, no monthly maintenance service charge, and a sliver of interest (it’s better than zero but not much).

Learn more(This offer expires 6/30/2023)

Laurel Road Referral Program

Once you have an account, you can begin earning cash rewards for each friend you refer that refinances a student loan, refinances a personal loan, or opens a new credit card. The limit is $400 a year (up to 10 referrals).

You can read more about their refer a friend program here.

How Does This Compare?

Laurel Road’s offer is a nice one because you can get paid quite a bit in your first year but also because you can get $10 a month after the first year’s offer runs out. This type of reward structure is rare and while you could make more money opening another account elsewhere, it is nice that you can get a little cash if you stay put.

Here are some of the other competitive bank offers we track:

Laurel Road Bank Promotions: $440 for Checking