Here’s an updated list of KeyBank promotions, bonuses, and offers.
Currently, KeyBank offers $100, $200 bonuses & promotions when you open a checking account and meet all the requirements.
You’ll find offers for the KeyBank Key Smart Checking®, Key Select Checking®, and Key Select Money Market Savings® accounts below.
About KeyBank Promotions
The Consumer Bank serves individuals and small businesses throughout their 15-state branch footprint and through their national Laurel Road® digital lending business targeted toward healthcare professionals by offering a variety of deposit and investment products, personal finance and financial wellness services, lending, student loan refinancing, mortgage and home equity, credit card, treasury services, and business advisory services. In addition, wealth management and investment services are offered to assist nonprofit and high-net-worth clients with their banking, trust, portfolio management, charitable giving, and related needs.
The Commercial Bank includes their Institutional and Commercial operating segments. The Commercial operating segment is a full-service corporate bank focused principally on serving the needs of middle market clients in seven industry sectors: consumer, energy, healthcare, industrial, public sector, real estate, and technology. The Commercial operating segment is also a significant servicer of commercial mortgage loans and a significant special servicer of commercial-backed mortgage security. The Institutional operating segment delivers a broad suite of banking and capital markets products to its clients, including syndicated finance, debt and equity capital markets, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance.
I’ll review the current KeyBank promotions below.
KeyBank Key Smart Checking® $200 Checking Bonus
- What you’ll get: $200 bonus
- Account Type: Key Smart Checking®
- Availability: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA (Bank Locator)
- Direct Deposit Requirement: Yes
- Credit Inquiry: Soft Pull
- Credit Card Funding: No
- Monthly Maintenance Fee: None
- Household Limit: None
(Expires 07/19/2024)
How To Earn Bonus
- Earn $200 by opening a Key Smart Checking® account online by July 19, 2024 and making the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements.
- Account must not be closed or restricted during the time of promotional period.
Fine Print
- You must open a Key Smart Checking® Account (this is the basic banking account in NY) by the expiration date at 11:59 p.m. (ET) and make ONE single KeyBank direct deposit of $500 or more within the first 60 days after account opening to get $200.
- Direct deposit transactions are limited to: payroll, Social Security, pension and government benefits.
- Accounts titled as Trust Accounts, Estate and No Access are excluded from eligibility.
- Employees of KeyBank, its affiliates and subsidiaries are not eligible for this offer.
- One account opening gift per qualifying account. One account opening gift per individual.
- The value of your gift will be reported on Form 1099-INT and deposited into your account within 90 days of meeting requirements.
- Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
- Accounts overdrawn or closed at the time of gift payment are not eligible.
- Offer is subject to cancellation without notice.
- KeyBank is not responsible for, and will not honor, promotional offers that appear on non-KeyBank websites or that are not authorized by KeyBank.
- Geographic restrictions apply.
KeyBank Key Select Checking® $200 Account Opening Bonus + $100 Annual Cash Bonus
Earn a $200 bonus when you open a Key Select Checking® account with qualified activities. This is KeyBank’s premium checking account that earns interest and also lets you earn a $100 cash bonus year after year with qualifying activities (this is separate from the $200 welcome bonus – see requirements below).
- What you’ll get: $200 account opening bonus + $100 Annual Cash Bonus
- Account Type: Key Select Checking®
- Availability: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA
- Direct Deposit Requirement: Yes
- Credit Inquiry: Soft Pull
- Credit Card Funding: No
- Monthly Maintenance Fee: $25; waivable if requirements are met
- Household Limit: None
(Expires 07/19/2024)
How To Earn $200 Bonus
- Earn $200 by opening a Key Select Checking® account online by July 19, 2024 and making the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements.
- Account must not be closed or restricted during the time of promotional period.
How To Earn $100 Annual Bonus
- Earn $100 year after year with qualified direct deposits. For full details on how to get this annual bonus, click here.
Fine Print
- You must open a Key Select Checking Account by the expiration date at 11:59 p.m. (ET) and make ONE single KeyBank direct deposit of $500 or more within the first 60 days after account opening to get $200.
- Normal account service charges and balance requirements apply to these accounts, including the minimum opening deposit.
- Direct deposit transactions are limited to: payroll, Social Security, pension and government benefits.
- Accounts titled as Trust Accounts, Estate and No Access are excluded from eligibility.
- Employees of KeyBank, its affiliates and subsidiaries are not eligible for this offer.
- One account opening gift per qualifying account. One account opening gift per individual.
- The value of your gift will be reported on Form 1099-INT and deposited into your account within 90 days of meeting requirements.
- Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
- Accounts overdrawn or closed at the time of gift payment are not eligible.
- Offer is subject to cancellation without notice.
- KeyBank is not responsible for, and will not honor, promotional offers that appear on non-KeyBank websites or that are not authorized by KeyBank.
- Geographic restrictions apply.
KeyBank Key Select Money Market Savings®
- What you’ll get: Earn 4.00 – 4.50% interest rate (2.42 – 2.93% blended APY*) for 6 months.
- Account Type: Key Select Money Market Savings®
- Availability: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA
- Direct Deposit Requirement: No
- Credit Inquiry: Soft Pull
- Credit Card Funding: No
- Monthly Maintenance Fee: $20; waivable if requirements are met
- Household Limit: None
(at KeyBank)
How To Earn Bonus APY
- Earn 4.00 – 4.50% interest rate (2.42 – 2.93% blended APY*) for 6 months on balances of $25,000 to $1,999,999.99 with an increase in total relationship balances of at least $25,000.
- To earn the 6 month bonus APY: Open a new Key Select Money Market savings account. Deposit at least $25,000 to your Key Select Money Market Savings account or other eligible accounts. Maintain a balance of $25,000 to $1,999,999.99 with an increase in total relationship balances of at least $25,000.
Account Features & Benefits
- Relationship Benefits. Earn better interest rates on savings and money market accounts, more cash back, loan discounts and more with KeyBank’s Relationship Benefits.
- Early Pay. Get paid up to two days early with eligible direct deposits to a KeyBank account.
- Competitive Interest Rates. Their interest rates are compounded daily to give you the best possible returns.
- Waivable Monthly Maintenance Fee. To waive the monthly maintenance fee, you need to have either a KeyBank consumer relationship package checking account, or a minimum daily balance of $25,000.
- Check Writing and Transfers. Access your savings anytime with an unlimited number of withdrawals and transfers.
- Secure, Easy Online Banking. Check your balance, make deposits and manage your account anytime with KeyBank online and mobile banking.
- Overdraft Protection. Link a savings account to your checking account to automatically cover overdrafts without a transfer fee.
- FDIC insured
KeyBank Certificates of Deposit (CDs)
With certificates of deposit (CD), you choose the term and your rate is fixed, so you always know what you’ll earn and when you’ll earn it.
- Guaranteed Returns. CD interest rates are fixed, so you grow your money at the same rate for the entire length of the term you choose.
- Interest Payments. Choose to redeem your certificate of deposit at the end of the term or reinvest it to keep earning interest.
- FDIC Insured. Every KeyBank CD is insured.
- Online and Mobile Banking. Check in on your CD growth anytime in KeyBank online and mobile banking.
Certificate of Deposit Accounts at KeyBank
- Short-Term CDs. Short-term savings at a higher interest rate
- Terms from seven days to six months
- Earn more interest than with a traditional savings account
- $2,500 Minimum Opening Balance
- Interest Compounded Daily and Fixed For the Term
- Tiered Long-Term CDs. Get higher interest rates with several term options
- Get higher interest rates with several term options
- Terms from six months to 10 years
- $2,500 Minimum Opening Balance
- Interest Compounded Daily and Fixed For the Term
- High-Yield Jumbo CDs. Intended for balances of $100,000 and greater
- Intended for balances of $100,000 and greater
- Terms from seven days to 120 months
- $100,000 Minimum Opening Balance
- Interest Compounded Daily and Fixed For the Term
Learn more about KeyBank Certificate of Deposits
How To Avoid Monthly Fees
- Key Smart Checking®: No monthly maintenance feee
- Key Select Checking®: The $25 monthly maintenance fee for the Key Select Checking® Account can be waived by:
- Having direct deposits totaling at least $5,000 during each statement period. OR
- Being a Key@Work® program member and having at least $3,000 in cumulative direct deposits each statement period. OR
- Having a combined balance in any combination of KeyBank checking and savings deposit accounts, certificates of deposit, retirement deposits, and Key Investment Services LLC accounts of $15,000 or more.
- Also, the fee is waived for the first three statement cycles.
- Key Select Money Market Savings®: $20 Waivable Monthly Maintenance Fee
- Waive the $20 monthly maintenance fee when you have either a KeyBank consumer relationship package checking account or a minimum daily balance of $25,000.
Bottom Line
While the promotions & bonuses at KeyBank sounds enticing, setting up a direct deposit is a big commitment. They offer many different accounts to qualify for this bonus, so you have several options for any that can best suit your needs.
Additionally, you may want to check out our full list of Bank Rates and CD Rates.
Compare KeyBank Promotions with other bank bonuses from banks like Citi, Huntington, Chase, TD, Discover Bank, Aspiration, Axos Bank, PNC Bank, BMO Harris, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, U.S Bank., and more!
*Check back at this page for updated KeyBank promotions, bonuses, and offers.
About KeyCorp: For more information, visit https://www.key.com/.
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