Key Select Money Market Savings®
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| APY (Annual Percentage Yield) |
2.15% - 3.18% (Verified 10/25/2023)
|
| Minimum Balance to Earn APY | $25,000 |
| Minimum Opening Deposit | $5,000 |
Key Select Money Market Savings® Review
Keybank’s roots trace back 190 years to Albany, NY and is currently based in Cleveland, OH. Key Select Money Market Savings® is available in 15 states across the USA.Key Takeaways
- Earn 3.50% - 5.00% interest rate (2.15% - 3.18% blended APY*) for 6 months. Rate available on balances of $25,000 to $1,999,999.99 with an increase in total relationship balances of at least $25,000. See offer for more details on the rates available in your area.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.18%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $25000.
- No monthly maintenance fee. To waive the monthly maintenance fee, you need to have either a premium KeyBank checking account or a minimum daily balance of $25,000.
- High minumum opening deposit. You must deposit a minimum of $5,000, which is high compared to most money market accounts.
Pros & Cons of Key Select Money Market Savings®
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Key Select Money Market Savings® FAQ
Are money market accounts from KeyBank federally insured?
Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What are the interest rates for Key Select Money Market Savings® rates?
Key Select Money Market Savings® offers an APY starting at 2.15% and ranging up to 3.18% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY. However, to earn interest you must keep a minimum balance of $25000.
| Rates | Amount |
|---|---|
| APY (Annualized Percentage Yield) | 2.15% - 3.18% |
What are the fees for Key Select Money Market Savings®?
This account charges a monthly maintenance fee of up to $20.To waive the monthly maintenance fee, you need to have either a premium KeyBank checking account, or a minimum daily balance of $25,000.
Fees
Amount
Monthly Fee
up to $20
Paper Statement Fee
$0
What is the minimum balance for Key Select Money Market Savings®?
Minimum deposit of $5,000. You must make an initial deposit of at least $5,000 to open this account.
Interest rate minimum balance of $25,000. You must keep the account balance above $25,000 to earn interest.
What features and perks does Key Select Money Market Savings® offer?
This account includes the following features:
- Fraud monitoring - KeyBank monitors transactions for potentially fraudulent activity.
- Mobile Banking Services - Key Select Money Market Savings® allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Key Select Money Market Savings® allows you to access your money from an ATM, a convenient feature only a few offer.
What is the customer service phone number?
The customer service number for this account is (800) 539-2968.
What is the support contact email?
The support contact email for this business credit card is customerservice@key.com.
How to open an account with KeyBank
- Visit the KeyBank website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
Contact
- Headquarters
-
127 Public Square
Cleveland, OH 44114 USA - (800) 539-2968
- Visit Site
- Email Support
Other Services by KeyBank
Availability
- Alaska
- Colorado
- Connecticut
- Idaho
- Indiana
- Maine
- Massachusetts
- Michigan
- New York
- Ohio
- Oregon
- Pennsylvania
- Utah
- Vermont
- Washington
Feature Breakdown
| Minimum Balance to Earn APY | $25,000 |
| Minimum Opening Deposit | $5,000 |
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