bank rates

KeyBank Can’t Muster Average CD Rates

Cleveland bank's best CD rates are saved for existing customers.A key thing to remember about KeyBank’s CD rates: They’re lousy.

The Cleveland-based big bank offers below-average rates on every term.

And that’s saying something since the average returns offered by large banks and thrifts are now at record lows.

You can find the highest nationally available rates on our latest CD Rates Leaderboard.

The KeyBank website (www.key.com) allows you to pull rates for specific geographic areas, so I put in a ZIP code for a major city in each of the 14 states it serves: Alaska, Colorado, Connecticut, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont and Washington.

All of the rates came up the same.

KeyBank’s showcase “Key Tiered CD,” which promises “higher interest rates for higher balances,” is currently a 48-month CD paying 1.05% APY with a deposit of $25,000-$49,999.00.

And that’s with a checking account. The nonrelationship rate is just 0.55% APY.

Gee, thanks.

Needless to say, I was not hopeful as I moved on to the rest of KeyBank’s CD rates.

KeyBank is currently offering:

3-month CD rate is 0.10% APY vs. an average rate of 0.18% APY. (Leaderboard leader is 0.81% APY.)

6-month CD rate is 0.20% APY vs. an average rate of 0.27% APY. (Leaderboard: 1.12% APY.)

12-month CD rate is 0.20% APY vs. an average rate of 0.45% APY. (Leaderboard: 1.41% APY.)

24-month CD rate is 0.50% APY vs. an average rate of 0.70% APY. (Leaderboard: 1.75% APY.)

36-month CD rate is 0.75% APY vs. an average rate of 1.04% APY. (Leaderboard: 2.17% APY.)

60-month CD rate is 1.10% APY vs. an average rate of 1.70% APY. (Leaderboard: 2.93% APY.)

Once again, those are relationship rates.

Find a better deal by comparing KeyBank’s returns with the best CD rates from scores of other banks in our extensive database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (2)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 2.00 out of 5)
Loading...
2 Existing Comments
  1. professor said:
    on May 25th at 09:41 am

    Three years ago Keydirect gave me 7.50%, that was amazing
    Now their rates are horrible.

  2. Kathy at Bankaholic said:
    on June 24th at 09:17 am

    These rates remain the same as of today.