It can save you lots of money by refinancing your figuratively speaking to a lower life expectancy rate of interest.

An online student lender, has helped tens of thousands of borrowers do just that since 2013, CommonBond. Now the business wishes one to sweep that cost savings into its cash that is new account SmartSave.

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

“we all know that student-loan refinancing can really help individuals cut costs, then again just what?” CommonBond CEO David Klein told company Insider. “a whole lot of individuals are making an option between cost savings and education loan re re payments. We thought, imagine if we’re able to build a thing that not merely lowered their payment per month, but did one thing with that cost cost cost savings?”

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