Laurel Road Personal Loans Review
ConsumersAdvocate.org Rating: 8.4 / 10 (Excellent)
Laurel Road is an FDIC-insured community bank that offers financial and loan services through its bank branches in Connecticut, and by internet and phone nationwide. Laurel Road offers personal loans to all US Citizens and permanent residents with a valid I-551 card. With Laurel Road, borrowers can avail up to $45,000 in loans with loan terms of 3, 4 and 5 years.
Direct Loan Service
Minimum Loan Amount
Maximum Loan Amount
Maximum loan amount of $35,000 is available of Business, Green Loan, Auto Purchase, Moving Expenses, and others. However, a maximum loan amount of up to $45,000 is available for other loan purposes such as Major Purchase, Home Improvement, and Debt Consolidation.
Minimum Loan Period
Maximum Loan Period
5.50% to 10.74%
6.00% to 11.24%
6.50% to 11.74%
Online Application Time
Just a few minutes
- Must be a U.S. Citizen or Permanent Resident
- Must have a valid I-551
- Meets Laurel Road underwriting criteria (including employment, disposable income, debt-to-income, and credit history)
Laurel Road collects non-public personal information about their clients from sources including:
- Information they receive from a consumer reporting agency
- Information about their customer’s transaction with them, their affiliate, or other firms
- Information they receive from their customers on application or other loan and account forms
Laurel Road Personal Loan Summary
Laurel Road makes applying for a personal loan quick and easy with its online application platform. It also offers personal loans at highly competitive rates with discount options with Automatic payment option. Its customer representatives are highly responsive and available for help with client concerns.
Laurel Road PERSONAL LOAN – RATE DETAILS, TERMS AND CONDITIONS
Authorizing the loan servicer or lender to automatically deduct monthly payments from a bank of your choice.
APR is defined as Annual Percentage Rate
Loans are available in terms ranging from 3 to 5 years, and with rates ranging from 5.50% (5.50% APR) for a 3 year loan to 11.74% (11.74% APR) for a 5 year loan assuming use of Automatic Payment to receive a 0.25% interest rate reduction. Monthly payments will range from $197.96 for our lowest rate 5 year loan to $327.34 for our highest rate 3 year loan for a $10,000 loan.
The interest rate you are offered will depend on your credit profile, income, and total debt payments.
Zero origination fees.
Minimum loan amount of $1,000. Maximum amount of $35,000 for loan purposes of Auto Purchase, Business, Green Loan, Moving Expenses, and Other. Maximum loan amount of $45,000 for loan purposes of Debt Consolidation, Major Purchase, and Home Improvement. Additional proof of use documentation is required to be eligible for loan amounts in excess of $35,000.
Must be a U.S. Citizen, or Permanent Resident, with a valid I-551 card and meet Laurel Road underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).
The repayment of any loan will commence immediately after disbursement by Laurel Road.
LAUREL ROAD RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of May 5, 2017 and is subject to change.