KeyBank CD Rates: What To Expect in 2025
Written by
Rudri Patel
Edited by
Nupur Gambhir
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KeyBank offers a wide range of CD terms, some of which have attractive APYs attached. However, the top APYs are reserved for savers who have an existing relationship with the company. Read on to learn more about KeyBank CD rates in 2025.
Current KeyBank CD Rates for 2025
KeyBank offers short-term CDs, tiered long-term CDs and high-yield jumbo CDs. You’ll need at least $2,500 to open a short-term or tiered long-term CD. But you’ll need at least $100,000 to open a jumbo CD.
Promotional Rates
| Term | Rate |
|---|---|
| 8 months | Up to |
| 23 months | Up to |
For both CDs, you’ll have to deposit at least $10,000 for the highest rates.
Short Term, Tiered and Jumbo CD Rates
| CD Type | Term | Balances | APYs |
|---|---|---|---|
| Tiered CD | 6 months | $2,500 to $99,999.99Â | |
| Tiered CD | 7 months | $2,500 to $99,999.99Â | Up to |
| Tiered CD | 9 months | $2,500 to $99,999.99 | |
| Tiered CD | 10 months | $2,500 to $99,999.99Â | |
| Tiered CD | 11 months | $2,500 to $99,999.99Â | |
| Tiered CD | 12 months | $2,500 to $99,999.99Â | |
| Tiered CD | 13 months | $2,500 to $99,999.99Â | |
| Tiered CD | 14 months | $2,500 to $99,999.99 | |
| Tiered CD | 15 months | $2,500 to $99,999.99 | |
| Tiered CD | 16 months | $2,500 to $99,999.99Â | |
| Tiered CD | 17 months | $2,500 to $99,999.99Â | |
| Tiered CD | 18 to 59 months | $2,500 to $99,999.99 | |
| Tiered CD | 5 years | $2,500 to $99,999.99Â | |
| Tiered CD | 6 years | $2,500 to $99,999.99Â | |
| Tiered CD | 7 years | $2,500 to $99,999.99Â | |
| Tiered CD | 8 years | $2,500 to $99,999.99Â | |
| Tiered CD | 9 years | $2,500 to $99,999.99Â | |
| Tiered CD | 10 years | $2,500 to $99,999.99Â | |
| Jumbo CD | 7 to 179 days | $100,000 to $499,999.99 | |
| Jumbo CD | 6 months | $100,000 to $499,999.99Â | |
| Jumbo CD | 8 months | $100,000 to $499,999.99Â | |
| Jumbo CD | 9 months | $100,000 to $499,999.99Â | |
| Jumbo CD | 10 to 11 months | $100,000 to $499,999.99Â |
Types of CDs Offered by KeyBank
You may be wondering what types of CDs are offered by KeyBank. They offer three different types of CDs. These CDs include the following:Â
Traditional Fixed-Rate CDs
Traditional fixed-rate CDs are offered for short and long-term options. The minimum deposit is $2,500.Â
Tiered CDs
This CD offers varying interest rates based on the deposit amount and term length. The structure is designed to reward higher deposit balances with increased interest rates, allowing savers to maximize their earnings. It usually requires a $2,500 minimum deposit.Â
Jumbo CDs
If you want to deposit a substantial amount of money, you could benefit from higher, fixed interest rates. The minimum deposit for a KeyBank jumbo CD is $100,000.Â
How To Open a KeyBank CD Account
To open a CD account with KeyBank, you must be at least 18 years old and a U.S. citizen. To apply online, you must be a current KeyBank client. If you don’t already have a KeyBank account, you’ll need to apply for the CD in person.
Be prepared to provide your Social Security number, physical address, email address, phone number and funding account information to finalize your account setup.
Deposit and Eligibility Requirements for KeyBank CDs
Here is an overview of the minimum deposit and eligibility requirements, as well as who is eligible to open a KeyBank CD.Â
Minimum Deposit Requirements for KeyBank CDs
- Standard CDs: The minimum deposit is $2,500.
- Tiered CDs: The minimum deposit is $2,500.
- Jumbo CDs: The minimum deposit is $100,000.Â
Who Is Eligible To Open a KeyBank CD?
If you’re an existing customer, you are eligible to invest in a KeyBank CD. If you’re a new customer, you can open a CD as long as you live in a state with KeyBank branches. KeyBank has branches in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont and Washington.Â
You will need to provide valid identification in the form of a government-issued ID, which includes a driver’s license or passport and your Social Security number.Â
How KeyBank’s CDs Work for Existing and New Customers
Existing customers can open a CD online and can easily link their checking or savings accounts for fund transfers. Since there is a preexisting banking relationship, customers may be eligible to receive a preferred rate.Â
New customers can open a CD as long as they live in a state where a KeyBank branch is located. Customers will need to meet the minimum deposit requirements and provide a valid ID and Social Security number. Â
How KeyBank CD Rates Compare to Competitors
When compared to the national average of 1.78% for a 12-month CD, KeyBank’s APY isn’t very attractive. However, KeyBank does offer a handful of terms with higher rates, especially for those who qualify for a relationship rate.
For example, savers can get a APY on an 8-month CD term, if they are willing to tuck away at least $10,000 and have a qualifying checking account with the bank.
If you are looking for higher rates, you are more likely to find them through online banks and credit unions.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
N/A
No monthly service fee
Early withdrawal penalty may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$2,500
$0
$500
BMO Alto, for example, offers competitive rates on CD accounts. And you won’t need to have a special relationship or meet a minimum opening deposit requirement to tap into those high rates.
Ally Bank offers an online CD option with a $0 minimum deposit. Rates are significantly higher than what KeyBank offers. You also don’t need to worry about being an existing customer to open an Ally CD.Â
Marcus by Goldman Sachs also offers CD options with higher APYs and a lower minimum deposit compared to KeyBank.Â
| Bank | 6-Month APY | 12-Month APY | Minimum Deposit |
|---|---|---|---|
| KeyBank | $2,500 | ||
| BMO Alto | $0 | ||
| Ally Bank | $0 | ||
| Marcus by Goldman Sachs | $500 |
Pros and Cons of KeyBank CDs
Every financial product has advantages and disadvantages. Here’s what to keep in mind about KeyBank CDs.
Pros
- Wide range of CD terms: Terms are from 7 days to 10 years.
- Variety of CD options: Option for standard, tiered and jumbo CDs.
- Protected funds: Funds are FDIC-insured.
- Benefits for existing customers: Higher rates available for individuals with existing banking relationship.
Cons
- High minimum deposit: High minimum balance requirement of $2,500.
- Need an existing KeyBank account: Must have a qualifying KeyBank account to tap into the highest available interest rates.
- Accessibility issues: Limited availability since KeyBank CDs are only offered in certain service areas.
KeyBank CD Account Features and Benefits
While the rates attached to a CD are important, they aren’t the only detail to keep in mind. Other critical factors include minimum deposit requirements and early withdrawal penalties.Â
The table below highlights the details to consider with KeyBank CDs.Â
| Item | Details |
|---|---|
| Minimum deposit | $2,500 for short-term and tiered CDs $100,000 for jumbo CDs |
| Term lengths | 7 days to 10 years |
| Early withdrawal penalty | -For terms of less than 32 days, the penalty is equal to all simple interest earned. -For terms of 32 to 89 days, the penalty is equal to one month of simple interest. -For terms of 90 to 359 days, the penalty is equal to three months of simple interest. -For terms of 360 days to 23 months, the penalty is equal to six months of simple interest.  -For terms of 24 to 47 months, the penalty is equal to nine months of simple interest. -For terms of 48 months or more, the penalty is equal to 12 months of simple interest. |
| Grace period for penalty-free withdrawals after renewal | 10 days |
Alternatives To KeyBank CDs
If you’re hesitant about a KeyBank CD, you may want to consider some other investment options.Â
High-yield savings accounts are more flexible about daily access and you could earn higher interest rates. The minimum deposit may be lower as well. There is no penalty to withdraw funds.Â
Money market accounts are also a flexible way to invest your money and earn some interest. You can receive a return on your money without having to worry about early withdrawal penalties with CDs.Â
Other short-term investment options to consider are treasury securities and high-yield checking accounts. What you decide ultimately depends on your current portfolio and financial goals.Â
Is a KeyBank CD the Right Choice for You?
KeyBank CD rates are on par with other banks that have a large physical branch network. This is useful for savers who want to manage their funds in person. But in general, you’ll find better CD rates available through online banks and credit unions due to lower overhead. If you don’t think KeyBank is the right fit, explore other attractive CD rates today.
KeyBank CD Rates: FAQ
Here are the answers to some frequently asked questions about KeyBank CD rates and features.- What is the minimum deposit for a KeyBank CD?
- The minimum deposit for a KeyBank CD is $2,500.
- Can you withdraw funds early from a KeyBank CD?
- Yes, you can withdraw funds early from a KeyBank CD. However, you will be required to pay an early withdrawal penalty.
- What happens if your KeyBank CD matures?
- Toward the end of the term of your CD, you'll receive a maturity notice regarding your options. You'll be able to either withdraw your money and place it in another account or automatically allow your CD to renew for the same term at the current rate.
Sarah Sharkey contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 9, 2025.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- FDIC. 2024. "National Rates and Rate Caps."
