Lending Club Complaints

Anybody who refinances an educatonal loan with online loan provider CommonBond are now able to obtain access to savings that are high-yield

Posted by on Feb 7, 2020 in Lending Club Complaints | Comments Off

You’ll save yourself lots of money by refinancing your figuratively speaking to a lesser rate of interest.

An online student lender, has helped tens of thousands of borrowers do just that since 2013, CommonBond. Now the business wants you to definitely sweep that cost savings into its brand new money account, SmartSave.

The account that is high-yield earns an aggressive 1.70percent APY, doesn’t have month-to-month charges or transfer limitations, and it is FDIC insured as much as $2 million. It is operated together with Flourish Cash, a subsidiary of rock Ridge Securities, a brokerage company. SmartSave just isn’t a high-yield family savings, technically, but acts the exact same purpose of helping you retain your cost cost cost savings safe from market risk and growing at the very least on rate with inflation.

“we understand that student-loan refinancing might help individuals cut costs, however exactly what?” CommonBond CEO David Klein told company Insider. “a great deal of men and women are making a selection between cost savings and education loan re payments.

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