KeyBank Offers Competitive CD Rates Up to 4.15% APY

KeyBank, a regional bank operating in 15 states, is offering competitive certificate of deposit (CD) rates with annual percentage yields (APYs) up to 4.15% for 9-month and 14-month terms, requiring a minimum deposit of $2,500 and an existing relationship with the bank. This limited-time offer provides a higher-yield savings option for customers, with implications for their financial planning and investment decisions." This description focuses on the primary topic (KeyBank's CD rates), main entity (KeyBank), context (regional bank operating in 15 states), significant action (offering competitive CD rates), and objective details (minimum deposit, existing relationship, and limited-time offer) that will guide the AI in creating an accurate visual representation of the article's content.

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Aqsa Younas Rana
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KeyBank Offers Competitive CD Rates Up to 4.15% APY

KeyBank Offers Competitive CD Rates Up to 4.15% APY

KeyBank, a regional bank operating in 15 states, is currently offering attractive certificate of deposit (CD) rates with annual percentage yields (APYs) as high as 4.15% for 9-month and 14-month terms. These competitive rates come with a minimum deposit requirement of $2,500 and the stipulation that customers must have an existing relationship with the bank.

Why this matters: Higher CD rates can have a significant impact on individuals' and businesses' savings strategies, influencing their financial planning and investment decisions. As interest rates continue to fluctuate, competitive CD rates like KeyBank's can provide a more attractive option for those seeking stable returns.

CDs are a type of savings account that typically offer higher interest rates than traditional savings accounts in exchange for the customer agreeing to keep the funds deposited for a set term. At the end of the term, the customer can withdraw the principal and earned interest. KeyBank's current 4.15% APY for 9-month and 14-month CDs is significantly higher than the national average of 1.36% for 1-year CDs, according to recent FDIC data.

To qualify for these high-yield CD rates, KeyBank requires customers to deposit a minimum of $2,500. Additionally, the promotional rates are only available to those who already have an established relationship with the bank, such as an existing checking account, savings account, or loan. New customers who do not meet these criteria may still be eligible for KeyBank's standard CD rates, which currently top out at 0.05% APY for a 12-month term with a minimum deposit of $2,500.

KeyBank's promotional CD rates are a limited-time offer and may be subject to change or withdrawal at any time. Customers interested in taking advantage of these competitive rates should contact their local KeyBank branch or visit the bank's website for more information and to open an account. As with any financial decision, it is important to carefully consider one's individual circumstances and goals before committing funds to a CD or other savings vehicle.

Key Takeaways

  • KeyBank offers 4.15% APY on 9-month and 14-month CDs.
  • Minimum deposit requirement is $2,500.
  • Existing KeyBank customers only (checking, savings, or loan).
  • Rates are higher than national average (1.36% for 1-year CDs).
  • Limited-time offer, subject to change or withdrawal.