Anybody who refinances a student-based loan with online loan provider CommonBond is now able to access high-yield cost savings

Anybody who refinances a student-based loan with online loan provider CommonBond is now able to access high-yield cost savings

It can save you a small fortune by refinancing your student education loans 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 desires you to definitely sweep that cost savings into its brand new money account, SmartSave.

The high-yield account presently earns a competitive 1.70percent APY, does not have any month-to-month fees or transfer restrictions, 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 firm. SmartSave isn’t a high-yield family savings, theoretically, but acts the function that is same of you retain your cost cost savings safe from market danger and growing at the least on speed with inflation.

«we all know that student-loan refinancing often helps individuals cut costs, then again exactly what?» CommonBond CEO David Klein told company Insider. «a whole lot of men and women are making an option between cost cost savings and education loan re re payments. […]