This Online Bank Is Designed for Doctors, Nurses, and Healthcare Professionals -- Should You Try It?

Doctors, nurses, and other healthcare professionals often have unique financial needs. Now there's an interesting digital bank called Laurel Road (owned by KeyBank) that can help these hardworking healthcare professionals make better moves with their money.

Laurel Road offers a high-yield savings account, a cash rewards checking account, and special perks to help doctors and nurses get more out of their everyday spending. If you're a doctor, dentist, nurse, veterinarian, or other qualifying healthcare professional, you can also get financial advice from Laurel Road.

Let's look at a few interesting bank account features and benefits that you can get from Laurel Road -- and why this innovative online bank could be a great choice for doctors, nurses, and other healthcare professionals.

Laurel Road High Yield Savings Account (5.00% APY)

Laurel Road offers a high-yield savings account that is currently paying 5.00% APY. This rate is competitive with some of the best savings accounts. Doctors and nurses are incredibly busy people who work long hours; you deserve to let your money work harder for you.

The Laurel Road High Yield Savings Account requires no minimum deposit and has no account maintenance fees. This savings account is so good, you might want to open one even if you're not a doctor or nurse.

Laurel Road Loyalty Checking Account

Banks are trying harder to compete to attract customers' deposits, and this is even happening in the relatively mundane arena of checking accounts. The Laurel Road Loyalty Checking Account offers unique cash rewards -- you can earn $20 of cash per month (for the first 12 months, then $10 per month) when you make qualifying direct deposits.

As of April 5, 2024, Laurel Road was also offering a $100 welcome bonus for opening a new Laurel Road Loyalty Checking Account and making qualifying direct deposits within 60 days. If you get this welcome bonus, that means you can earn up to a total of $340 of cash in your first year. That's a pretty good return on investment for a checking account!

Getting cash back from your checking account is like a little "bonus" from your bank for every monthly payday. Laurel Road checking accounts also offer Early Pay, a free benefit that gives you early access to your paycheck -- you can get paid up to two days early when you set up direct deposits.

Laurel Road Financial Insights

Doctors and other healthcare professionals often have special questions about financial planning, investing, and more. Laurel Road makes it easy for healthcare professionals to get their unique financial questions answered, with its Financial Insights service.

Financial Insights is a financial literacy hub for qualifying Laurel Road members who are medical professionals, including veterinarians, chiropractors, podiatrists, and others. With Financial Insights, you get personalized tips, recommendations and guidance about your financial situation based on your career stage. This can be a good way for doctors to make better-informed money decisions and understand the full picture of their personal finances as their careers progress.

Bottom line

Laurel Road has one of the best savings accounts and some impressive checking account benefits that most banks don't offer. If you're a doctor, dentist, nurse, or other healthcare professional, it's worth checking out Laurel Road for its special programs, perks, and solutions for your unique financial needs. And even if you're not in the healthcare field, Laurel Road can be a great online bank to help your savings grow.