Where does KeyBank offer loans?
KeyBank offer personal loans to residents of the following states:
- Alaska
- Colorado
- Connecticut
- Idaho
- Indiana
- Massachusetts
- Maine
- Michigan
- New York
- Ohio
- Oregon
- Pennsylvania
- Utah
- Vermont
- Washington
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KeyBank personal loans review
Last updated:
Borrow up to $50,000 with both secured and unsecured options, but beware of prepayment penalties.
- Best for current account holders looking for high amounts and long terms.
- Pick something else if you don’t live in an eligible state or want to avoid prepayment penalties.
$50,000
Max. Loan Amount
8.34% to 14.89%
APR
Details
| Product Name | KeyBank Personal Loans |
|---|---|
| Min. Loan Amount | $5,000 |
| Max. Loan Amount | $50,000 |
| APR | 8.34% to 14.89% |
| Interest Rate Type | Fixed |
| Minimum Loan Term | 1 year |
| Maximum Loan Term | 7 years |
Expert review
Review by
Kellye Guinan
kellye.guinan@findercrew.comKellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.
Expert review
KeyBank personal loans are ideal if you’re a current account holder and unsure whether you want an unsecured or secured loan — it offers both. You can borrow up to $50,000 with terms as long as seven years — on the higher end compared to other lenders.
But KeyBank only works with residents of 15 states, so you’ll need to look elsewhere if yours doesn’t make the list. You also might be charged a $150 prepayment penalty if you wanted to pay back your loan early to save on interest — rare for a personal loan provider.
Not sold on KeyBank? Compare your other options below.
First, am I eligible?
While KeyBank doesn’t list a credit score range or minimum income for its personal loan applicants, you’ll still need to meet the following requirements:
- Have a KeyBank checking or savings account.
- Reside in a state serviced by KeyBank.
- Be at least 18 years old.
Pros
- Borrow up to $50,000
- No origination fee
- Secured and unsecured options
- Loan terms up to seven years
- 0.25% autopay discount
Cons
- $150 prepayment penalty
- Need an appointment for larger loans
- Must have a KeyBank checking or savings account
- Limited state availability
Compare other personal loan providers
Updated December 13th, 2019
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How do I apply?
Unsecured and secured loans have different application processes to follow when you apply.
Secured loans
To apply for a secured loan from KeyBank, you’ll need to schedule an appointment at a local branch to discuss your funding options. To find a branch near you:
- Visit the KeyBank site and click Products. Select Loans & Mortgages, and then click Compare Personal Loans & Lines of Credit.
- Click KeyBank Secured Personal Loan, and then hit Schedule an Appointment to be redirected to a local map.
- Enter your city and state or your ZIP code.
- Select the branch you would like to visit.
- Fill out the contact form with your name, email, any comments you have and select if you’re a current client.
- Choose an available appointment slot and click Schedule It to finish.
Unsecured loans
You can apply for an unsecured loan completely online. Follow these steps to get started:
- Visit the KeyBank website and click Products. Select Loans & Mortgages, and then click Compare Personal Loans & Lines of Credit.
- Click KeyBank Unsecured Personal Loan, and then hit Apply Now to start the application process.
- Log in with your current account information or start a new application.
- Fill out the form with your personal and employment information.
- If applying with a coapplicant, provide their information.
- Submit your application for processing.
What information do I need to apply?
When you’re ready to apply, make sure you have these pieces of information close at hand:
- Social Security number or TIN
- List of debts
- Proof of income
- Proof of assets
How to apply step-by-step with screenshots
What happens after I apply?
After you apply, KeyBank will process your application and return to you with an approval decision. You may be able to receive your funds the same day you apply if you meet certain criteria, including finalizing the loan before 2 p.m. ET.
How do repayments work with KeyBank?
Both secured and unsecured loans from KeyBank have fixed monthly payments that stay the same throughout the life of your loan.
If you can, sign up for automatic payments to score a 0.25% discount off your interest rate. Although it seems small, it can reduce your interest by hundreds of dollars in the long run. And while you can pay your loan off early, KeyBank charges a $150 penalty fee if you do so within the first 18 months.
Keep an eye on your bank account and loan balance. If you notice anything off, visit your local branch or call 800-539-2968 to speak with a KeyBank customer service rep 24/7.
KeyBank has a few other loan options if a personal loan doesn’t quite fit your needs. Or see how it stacks up to other lenders with our guide to personal loans.
Frequently asked questions
Image Source: shutterstock and key.com