KeyBank has different savings accounts available for your saving needs.  KeyBank offers a basic savings account and a savings account set up for children.

Details of Saving Accounts

Each of the savings accounts offered through KeyBank is FDIC Insured.  The basic savings account requires a $50 opening balance.  Their is a monthly fee of $4, but that can be waived by keeping a minimum balance of $300 in your savings account.  The Key4Kids savings account doesn’t require a minimum balance, has no monthly maintenance fee, and is only available to children under the age of 18.  This account is a great way to start saving money for your children.  However, the Key4Kids account cannot be opened online, you must visit a branch if you are interested in this account.

Savings accounts are primarily that, an account to help you save money.  They should also be a place to help you earn some interest on your money.  The rates on KeyBank’s savings account is between 0.04 and 0.05 percent.  If you are wanting a basic savings account there are other banks that offer a higher interest rate and APY on your money.  The best banking chart on BankTruth.org’s home page can help you know which account has the best interest rate and APY for your money.

Benefits of a KeyBank Savings Account

The rates of other banks might be better than KeyBank’s savings account, but there are other reasons to open an account through KeyBank.  They offer free online banking, a low opening balance and minimum balance as well as a calculator tool available to help you with your savings goals. For more information read our Key Bank review