KeyBank operates as a regional financial institution, providing a blend of in-person and digital banking solutions. With branches in just 15 states, KeyBank delivers an extensive array of banking products, including checking and savings accounts along with various lending options. The bankâs offerings cater especially to customers both within and beyond its geographic reach. Letâs delve into the specifics.
Checking Accounts at KeyBank
Key Smart Checking
- Requires a minimum opening deposit of $10
- Monthly service fee is waived
- No minimum balance is mandated
- $3 fee incurred when using ATMs outside of KeyBank network
Key Select Checking
- Interest-earning account
- $25 monthly service charge (can be waived if you maintain a total balance of $15,000 across all KeyBank accounts or have at least $5,000 in monthly direct deposits)
- Requires a $50 minimum opening deposit
- No fees for using out-of-network ATMs
- Unlimited ATM fee reimbursement offered
KeyBank Hassle-Free Account
- This account earns interest
- Minimal opening deposit of $10 required
- No monthly fee charged
- No minimum balance necessary
- No checks are issued
- Overdrafts do not incur fees
Savings Accounts at KeyBank
Key Active Saver
- Earning interest
- $10 minimum deposit to open the account
- Monthly fee of $4, unless you also have a KeyBank checking account
Key4Kids Savings Account
- Earning interest
- No monthly service fees
- Minimum opening deposit of $10 required
- Account available for children under 18, where the custodian is a KeyBank depositor or credit customer.
Key Select Money Market Savings
- Requires a $5,000 minimum opening deposit
- $20 monthly service fee unless tied to a KeyBank consumer package checking account or if a $25,000 minimum balance is maintained during the statement cycle.
- Unlimited check writing privileges
- Interest rates are tiered based on your balance
KeyBank Certificates of Deposit (CDs)
Short-term CDs
- Minimum deposit of $2,500
- Terms range from 6 days to 6 months
- Eligible for Relationship Rewards rate when combined with a KeyBank checking account
Tiered long-term CDs
- $2,500 minimum required
- Ranging from 6 months to 10 years for terms
- Relationship Rewards rates available when linked with a KeyBank checking account
High-yield jumbo CDs
- A minimum opening deposit of $100,000 is necessary
- Terms from 7 days up to 120 months
- Available for Relationship Rewards rate alongside a KeyBank checking account
Additional Products Available
Furthermore, KeyBank extends its portfolio with a variety of other services, including:Â
- Home mortgages and loans
- Lines of credit
- Credit card options
- Investment services
- Insurance products
- Debt consolidation
Comparing KeyBankâs ProductsÂ
Although KeyBank provides a diverse selection of products to meet various customer needs, EverBank offers competitive yields on savings, money market accounts, and CDs. The Everbankâs Performanceâ Savings, PerformanceÂź Money Market, and PerformanceÂź CDs provide no monthly fees along with no minimum balance requirements. Moreover, for swift fund transfers, customers may easily link their accounts with the EverBank Checking for smooth access.
EverBank Performanceâ Savings
-
Annual Percentage Yield (APY)
4.30% APY
-
Minimum balance
No minimum required
-
Monthly fees
No fees charged
-
Transactions limit
Daily external transfers capped at 20, with a max of 10 for deposit pulls and 10 for sending funds, plus a monthly total of 50 allowed.
-
Excessive transactions fee
None
-
Overdraft fees
N/A
-
Checking account availability
Yes
-
ATM card availability
Yes
Conditions apply.
Advantages
- Strong APY
- No required minimum balance
- No monthly fees charged
- Free ATM card with no fees at ATMs
Disadvantages
- Lacks physical branch locations
EverBank PerformanceÂź CDs
-
APY Rates
Generates 3.50% to 4.05% APY
-
Term lengths
Available from 3 to 60 months
-
Minimum deposit
Initial deposit of $1,000 required
-
Monthly fees
No fees assessed
-
Penalty for early withdrawal
An early withdrawal penalty may apply.
Conditions apply.
Advantages
- Competitive APYs
- Variety of CD term options
- Zero monthly charges
Disadvantages
- Requires a $1,000 minimum deposit
- Funds not accessible until term concludes
- Penalties for early withdrawal may apply
- Very few physical locations available
LendingClub, operating entirely online, comes with excellent features for accounts, particularly its LevelUp Checking Account, which offers 1% unlimited cash-back on eligible debit card purchases along with interest on certain balance targets. Additionally, there are unlimited rebates on ATM fees from other banks.
The LevelUp Savings account also has no monthly maintenance fees and provides a competitive interest rate that varies with monthly deposit activity.
LendingClub LevelUp Checking
Visit LendingClub Bankâs website for more information
-
Annual Percentage Yield (APY)
1.00% APY available for balances of $2,500.00 or higher, otherwise no APY
-
Minimum deposit required to open
$25
-
Balance requirements
No minimum balance is enforced
-
Monthly fees
No monthly fees
-
No free ATM network
None
-
Fees for ATM reimbursements
Unlimited rebate on fees from ATMs of other banks
-
Overdraft fees
None charged
-
Mobile check deposit features
Yes
Conditions apply.
Advantages
- High APY for checking accounts
- Low threshold to open an account
- No balance requirement and monthly fees
- Includes ATM fee reimbursements
- No overdraft fee present
Disadvantages
- APY requires specific conditions to fulfill
- No designated ATM network available
LendingClub LevelUp Savings Account
LendingClub Bank, N.A., Member FDIC
-
Annual Percentage Yield (APY)
4.20% with monthly deposits of at least $250, or 3.20%
-
Balance requirements
No minimum balance needed
-
Monthly fees
No fees applied
-
Transaction limits
None
-
Fees for excessive transactions
None assessed
-
Overdraft charges
N/A
-
Checking account included?
Yes
-
ATM card offered?
Yes
Conditions apply.
Advantages
- Strong APY rate
- No minimum balance is required
- No monthly charges
- Includes free ATM card with no fees
Disadvantages
- Requires monthly deposits of at least $250 to achieve the highest APY
- Absence of physical branches
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