Laurel Road Personal Loans Review

Rating: 8.6 / 10 (Excellent)
Disclosure: We receive advertising revenue from this partner. 
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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.

How is Laurel Road rated?


Loan Specifics
Cost of Loan
Lender Reputation

Overall Rating: 8.6 / 10 (Excellent)

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 when automatic payments are enabled. Its customer representatives are highly responsive and available for help with client concerns.

Laurel Road Loan Specifics

Loan Specifics - 9 / 10

Laurel Road's minimum loan amount is fixed at $1,000, but their maximum amount will vary depending on the loan's intended use. $35,000 is the standard upper limit for their loans, but consolidation, major purchase, and home improvement loans can go up to $45,000. Proof of use documentation is required for loans of over $45,000. Laurel Road loans have a term length of 3, 4, or 5 years, are directly deposited into a customer's account

Loan Uses

Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Start Business
Loan Minimum
Loan Maximum
$35,000; $45,000 for debt consolidation, major purchase, and home improvement
Term Length
3, 4, or 5 years
Direct Deposit
Pay Creditors Directly
Decision Time
Disbursement Time
Approximately 24 hours
Credit Insurance
Unemployment Protection

Representative Loan Sample

Example: A personal loan debt of $28,000 can be refinanced over a 3 year term with a fixed APR making the monthly payment $845–$913 at a rate of 5.50%–10.74%.

Laurel Road Qualification

Qualification - 8 / 10

Potential applicants to a Laurel Road loan must have a good credit score and history, although they do not disclose a specific number. They also do not divulge what their maximum debt-to-income ratio is. Laurel Road will only perform a hard credit pull after you apply for a loan—they will make a soft credit check at the start of the application process to show you available rates.
Minimum FICO Score
Personal Income Considered
Education Requirements
Debt to Income Ratio
Verify Bank Account
U.S. Citizen
Hard Credit Pull

Laurel Road Cost of Loan

Cost of Loan - 8 / 10

After looking at a potential borrower's credit history and score, Laurel Road determines the APR for their loans based on their term length: 3 year loans go from 5.50 to 10.74%, 4 year loans go 6.00 to 11.24%, and 5 year loans go from 6.50 to 11.74%. These rates does not take into account their 0.25% discount for customers who use make automated payments from a bank account. Laurel Road has 2 fees: a late fee, and a returned check fee for any electronic payments or checks that they bounce back.
APR Range
5.75 to 11.99%
Origination Fee
Zero origination fees
Missed Payment Penalty
5% of the late payment or $28, whichever is less

Other Fees

Application Fee
Pre Payment Penalty
Administration Fee
Returned Check Fee
Check Processing Fee

Laurel Road Reputation

Lender Reputation - 9 / 10

Laurel Road is a division of the Darien Rowayton Bank, an FDIC-insured bank established in 2006. It does not show up on the BBB, but its Trustpilot score is an excellent 9.5.
Type of Lender
Year Founded
Trust Pilot Rating
9.5 out of 10
Consumer Financial Protection Board (CFPB) Complaints
Date Collected

Company Profile

Full Name
Laurel Road Personal Loans
Company Website
Laurel Road P.O. Box 191, Bridgeport, CT, 06601

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Customer Comments & Reviews

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Guillermo C
Dallas, Texas
They wouldn't tell me if I was pre approved or not until they did a hard pull. They then proceeded to perform a hard pull from ALL THREE CREDIT BUREAUS. Who does that???? They lowered my score and took away chances for another loan. Horrible company.

Our Partner
8.6 / 10
  • Up to $45,000 in personal loans
  • Loan terms from 3 to 5 years
  • No origination fees
  • Personal loans for debt consolidation
  • Earn $300 by sharing Laurel Road with a friend or a family member
  • FDIC-insured bank