You can also boost your earnings by qualifying for Relationship Rates and having a large deposit. Opening those accounts will help you earn more than usual. However, keep an eye out for certain terms that do have special high rates like the 18-Month Key Tiered CD. With a standard CD, you’ll typically earn a few dollars. With low to mediocre interest rates, KeyBank won’t often earn you too much in a CD. How Much You Earn With KeyBank Certificate of Deposits Over Time Accounts of 24 to 47 months carry a penalty of nine months’ simple interest and any accounts of 48 months or longer charge a penalty of 12 months’ simple interest. Early withdrawals on accounts of 360 days to 23 months cost six months’ simple interest. Accounts from 90 to 359 days carry an early withdrawal penalty of three months’ simple interest. Accounts from 32 to 89 days assess a penalty of one month’s simple interest. Still, making an early withdrawal will trigger heavy penalties that you won’t want to pay.įor accounts between seven and 31 days, you’ll have to pay a penalty of all simple interest earned with a minimum penalty of seven days’ simple interest. However, this will be harder for longer-term accounts where you might have to wait 10 years to get ahold of your money. If you have a shorter term, it will be much easier to wait it out if you’re strapped for cash. Whichever CD account you choose, you’ll want to be careful of making any early withdrawals. Plus, if you plan to deposit at least $100,000, you have Key Jumbo CDs there to earn you interest on terms from seven days to 120 months. If you need to save for an expense further in the future, you can open a long-term Key Tiered CD account instead since those range up to 10 years. The shortest term lasts for seven days, allowing you to boost your savings a bit for an upcoming expense. The Key Short Term CD accounts work for KeyBank customers who need to save within a more limited timeline. ![]() With three CD account types, KeyBank offers each customer the chance to find an account that works for them. Key Tiered CDs - Relationship Rewards RatesĬompare KeyBank National Association to Other Competitive Offers Overview of KeyBank CDs You can qualify for Relationship Rates by owning a Key Advantage Checking®, Key Privilege Checking® or Key Privilege Select Checking® account and enroll in KeyBank Relationship Rewards. You may also be able to earn at Relationship Rewards Rates. However, you can boost your rate by having a higher balance. Most terms don’t carry high-earning rates. Not all Key Tiered CD accounts have great rates. Just make sure that you’re responsibly stashing your money away into these various accounts. That way, you can withdraw your earnings every few months or so depending on how you build your ladder. This involves opening multiple CDs at once, each account with a different maturity date. A good move could be to create a CD ladder with multiple Key Tiered CD accounts. ![]() ![]() You can open a Key Tiered CD of six months to 10 years. Key Tiered CDs offer a wider range of terms, better rates and chances to boost your rates with higher balances. You can earn these Relationship Rewards by owning a Key Advantage Checking®, Key Privilege Checking® or Key Privilege Select Checking® account and enrolling it in KeyBank Relationship Rewards. You do have the opportunity to earn at a slightly higher rate with a Key Short Term CD. This is an ideal timeline for those who cannot safely afford to put away sums of money for a long period of time. This allows you to stash away some money and get it back, plus interest, with a pretty quick turnaround. Key Short Term CDĪ Key Short Term CD comes offers short-term savings from seven to 179 days. As you’ll see below, most accounts and tiers don’t reach past. Unfortunately, KeyBank doesn’t offer very favorable CD interest rates. To calculate how much interest you could earn with a CD, try using SmartAsset's CD calculator. You can still open a Key Tiered CD for six months, but its rate is much lower than its Key Short Term counterpart. The longest Short Term account lasts for six months, compared to the Key Tiered CDs that can last for up to 10 years. For example, if you don’t have much time to grow your savings, a Key Short Term CD might work better for you. Having these options allows you to choose the CD account that best fits your financial situation and savings goals. KeyBank offers three certificate of deposit accounts: Key Short Term CDs, Key Tiered CDs and Key Jumbo CDs.
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