Consider your savings timeline and goals. To estimate your earnings with KeyBank, use our CD calculator below.īefore opening a KeyBank CD, determine which type of account and term is right for you. Key Private Bank Personal Checking AccountĪs with any savings account, the amount you’ll earn is dependent on how much you deposit and how long you are willing to wait.The best rates are the bank’s Relationship Reward rates, which are reserved for customers who have a qualifying checking account with KeyBank, although many accounts earn the same APY regardless of relationship status. For tiered CDs, you may be eligible for a higher APY if you deposit more. How Much Can You Earn With KeyBank’s CD Rates?Ĭompared to similar accounts, most of KeyBank’s CD rates are quite low, with a few exceptions for promotional terms and higher balances. At the end of your term, there’s a 10-day grace period during which you can withdraw funds or let the CD renew for the same term at the rate available for new accounts. KeyBank also charges early withdrawal penalty fees if you withdraw your deposit before maturity, but you can request to receive interest payments before your term is up. As with most CDs, you can’t add funds to a KeyBank CD after opening. A CD locks your money up, making it inaccessible. With a savings account, you can easily withdraw, add or move cash. KeyBank offers both short- and long-term standard CDs that require you to lock up funds for a certain amount of time and earn fixed interest throughout this term.ĬDs are similar to high-yield savings accounts in that they can stretch your savings further, but they differ in how you access your money and earn interest. KeyBank CDs are standard CDs that work like most time deposit savings accounts. Your actual earnings rate may differ if you decide to withdraw interest during a term. Note that the stated APYs above assume you will leave interest in your account to compound until maturity. Terms of up to 180 days are only eligible for payments at maturity, but terms of between 181 days and 12 months can take payments monthly, and terms of between 13 and 120 months can take payments monthly, quarterly or annually. KeyBank permits account holders to take regular interest payments if they don’t want to have their earnings automatically reinvested into their accounts. Grace Period for Early Withdrawals After Maturity Terms of 48 months or more: 12 months’ simple interest Terms of 24 months to 47 months: nine months’ simple interest Terms of 360 days to 23 months: six months’ simple interest Terms of 90 days to 359 days: three months’ simple interest Terms of 32 days to 89 days: one month’s simple interest Terms less than 32 days: all simple interest earned (minimum seven days’ worth) Tiered long-term CDs: six months to 10 years (customizable by month) Short-term CDs: seven days to 179 days or six months (customizable by day) This penalty ranges from all earned interest to a year’s worth of interest. You may also add funds during this grace period.Īs can be expected for standard CDs, KeyBank charges a penalty for withdrawing funds before a term is up. At the end of a term, account owners have ten days to withdraw principal without penalty or allow a CD to renew for another term at the rate available at the time of renewal. Interest compounds daily for all CDs at KeyBank, and some terms allow you to take optional interest payments before maturity. At KeyBank, short-term CDs are categorized as those less than six months and long-term CDs are categorized as those longer than six months. Terms start at seven days and go up to 10 years, and there are many uncommon lengths available by customizing the number of days or months. Short-term and tiered long-term CDs require a minimum opening deposit of $2,500, and the KeyBank Jumbo High Yield Certificates of Deposit require a minimum opening deposit of $100,000. KeyBank offers three types of CDs: short-term CDs, tiered long-term CDs and high-yield jumbo CDs. *Higher Relationship Rewards rates are for customers who open a qualifying KeyBank checking account KeyBank Tiered Long-Term Certificates of Deposit
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