KeyBank has 3 savings accounts and 1 money market account to choose from. Key Bank Early Withdrawal Penalties Jumbo CDs CD Term Key Bank Early Withdrawal Penalties Tiered CDs CD Term Key Bank Early Withdrawal Penalties Short Term CDs CD Term If you need access to your fund prior to maturity, KeyBank will charge you a portion of your simple interest as a penalty. KeyBank will send you a maturity notice, but be sure to set your own reminders as well if you plan on moving funds around at the end of your CD term. During this time you may add or withdraw funds penalty free. These CDs also automatically renew for the same term at the going APY if nothing is done during the grace period.įor all CDs with terms of 32 days or greater, KeyBank provides a standard grace period of 10 days. Interest earned is then credited back to the account monthly. To give these yields some context, the current national average for a 24 month CD and a 60 month CD sit at 1.45% and 1.37%, respectively, according to FDIC data.Īll of KeyBank’s certificate of deposit accounts feature daily compounding interest for the entire term. To put these yields into perspective, the current national average for a 6 month CD sits at 1.19% according to the FDIC, while top yields from online banks are inching towards 5.25% APY. KeyBank’s short term CD rates have yet to rise with the higher interest rate environment that we’re currently in. KeyBank’s short term CDs can be customized from 7 to 179 days.ĬD rates surveyed in Seattle, Wa on June 12, 2023. KeyBank’s tiered CDs come with a minimum deposit requirement of $2,500. That said, some of the top yields from FDIC-insured online banks are inching above the 5.00% APY mark for 12 month terms. To put the yield above in perspective, the current national average for a savings account and a 12 month CD sits at just 1.59% APY according to FDIC data. In order to qualify for “Relationship Rewards” you’ll need to also have a Key Advantage Checking, Key Privilege Checking, or Key Privilege Select Checking account. KeyBank’s standard CDs are tiered and come with a minimum deposit requirement of $2,500. As with most KeyBank’s CDs the APY (annual percentage yield) you receive with this account will vary based on relationship status and deposit size. The most competitive CD account offered from KeyBank is their 13 month promotional Jumbo CD. They also have long term CDs with terms ranging from 5 to 10 years.įor jumbo CDs with deposits of $100,000 – $499,999.99 they also offer short term CDs with terms ranging from 7 days to 179 days. They have standard CDs with terms ranging from 6 months to 5 years. Regardless of the above, you’ll have three different types of CDs to choose from with KeyBank. Larger deposit amounts stand to earn better yields. If you have a checking account with KeyBank, you stand to earn a better yield. You must first enter your zip code to see KeyBank’s current CD rates. There are 3 factors that could affect the yield you earn with your KeyBank CD. To see if these accounts are right for you, continue reading our review below. Key Select Money Market Savings Account.KeyBank’s Savings Accounts – The 4 types of variable rate savings accounts offered at KeyBank are: □ Please Note: If you have a checking account with KeyBank you’re eligible for “Relationship Rates” which may earn a slightly higher yield on some terms. Jumbo CDs offer slightly higher yields on some terms with minimum deposits of $100k.Tiered CDs with terms ranging from 6 months to 10 years.Short Term CDs with customizable terms ranging from 7 to 179 days.Earn the best rate when you open their 13 month promotional CD with a Jumbo deposit of $100,000 or more plus an existing checking account ( 4.50% APY). KeyBank’s CD Accounts – The 4 types of fixed-rate CDs sold at KeyBank are: There are 4 types of CDs offered at KeyBank as well as 1 money market account and 3 savings account options. This includes their CDs and savings accounts. For the purpose of this review, we will focus on KeyBank’s fixed and variable rate, interest-bearing deposit accounts. They have 1,200 branches and 1,500 ATMs within 15 states and only accept consumer deposits within that territory.įor consumers within their regional coverage, KeyBank offers a full suite of FDIC-insured deposit accounts complete with checking, money market, certificates of deposit and savings accounts. KeyBank is a mid-sized, regional bank that operates both online and offline.
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