Key Select Money Market Savings®
A higher interest savings account for your money.
Get more from your savings with our high-yield money market account, Key Select Money Market Savings.
- Earn interest rate ( blended APY*) for 6 months. See how
- Rate available on balances of $25,000 to $1,999,999.99 with an increase in total relationship balances of at least $25,000.
- Waivable monthly maintenance fee of $20.1
Overview
| Minimum Opening Deposit | $5,000.00 |
|---|---|
| Interest Rate | Tiered based on balance and compounded daily. |
| Qualifies for Relationship Balances | Yes, learn more about KeyBank Relationship Rate |
| Check Writing | Unlimited |
| Can Be Used for Overdraft Protection | Yes, with no transfer fee.2 |
Features and Benefits
Tiered Interest Rate
Our variable rate is compounded daily to give you the best possible returns.
Unlimited Transfers
Access your savings anytime with an unlimited number of withdrawals and transfers.
Waive the 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.
Savings accounts with tools to help you stay in control as your balance grows.
Use EasyUp to build up savings or pay down debt without even thinking about it.
Deposit checks in the mobile app, transfer money as often as you need to, and track your balance as it grows. Get the KeyBank mobile app.4
Easy, everyday banking with everything you need
Get all the convenient features of KeyBank savings accounts.
- Convenient Branches and ATMs
Visit us at any of our branches and 40,000 KeyBank and Allpoint ATMs nationwide. Find a location. - Overdraft Protection
Link a savings account to your checking account to automatically cover overdrafts without a transfer fee.2 - FDIC Insured
This account is FDIC insured.
Frequently Asked Questions About 6-Month Bonus
You’ll earn your bonus rate on Key Select Money Market Savings balances of $25,000 to $1,999,999.99, as long as you bring at least $25,000 in money from outside of KeyBank to any eligible accounts that make up your total relationship with KeyBank, including your money market, personal checking, savings or CD accounts, and excluding health savings accounts and retirement accounts.
The blended APY is a blend of two interest rates: 6 months at the bonus rate and 6 months at today’s current rate.
The initial total relationship balance is the monthly average balance you have in any KeyBank personal checking, savings, money market or CD accounts (not health savings or retirement accounts) in the month before you open your Key Select Money Market Savings account.
First, we establish a baseline for your monthly average relationship balance by checking what it was for the month before you opened the Key Select Money Market Savings account. Then, each month during the six-month promotional bonus period, we see if the current monthly average relationship balance is at least $25,000 more than the baseline. We always look back a month when calculating monthly average relationship balance, so if we check in July, for example, we’ll be looking at the June balances.
The six-month bonus rate period starts on the day the Key Select Money Market Savings account is opened. And, you’ll start earning the rate if you maintain a balance of $25,000 to $1,999.999.99 and if at least $25,000 of your total eligible balances are new to KeyBank. So, the earlier you qualify, the longer you can benefit from the bonus interest rate.
If your Key Select Money Market Savings account doesn’t maintain a balance of $25,000.00 to $1,999,999.99 or you don’t meet the relationship balance growth requirements, the account will return to the Current Variable Interest Rate until the requirements are met again.
At the end of six months from account opening, the Bonus Interest Rate will return to the Current Variable Interest Rate in effect at that time.
Any owner of the Key Select Money Market Savings account will be assessed individually for monthly average relationship deposit balance growth in their qualifying deposit accounts. The account will qualify for the Bonus Interest Rate when at least one of the owners meets the monthly average relationship deposit balance growth and the balance of $25,000 to $1,999,999.99.
Frequently Asked Questions about Key Select Money Market Savings Account
A high-interest savings account, also known as a high-yield savings account, is a type of savings account that offers above average interest rates on deposits.
Interest rates on high-yield savings accounts are variable and can change at any time, though rates typically change after a Federal Reserve committee meets to adjust the federal funds rate. The account’s annual percentage yield (APY) determines how much interest you can earn on your money each year.
Money market accounts (MMAs) work like savings accounts. As customers deposit funds in a money market account, they earn interest on those funds. MMAs usually offer a higher interest rate and easier access to your money.
A tiered-rate account is a bank account that pays different rates of interest, depending on the funds held in it. While it can be any type of account, it is usually a money market or savings account.
It only takes a few minutes to open an account with KeyBank, here’s what you need to do.
Tell us about yourself
To start your application, we’ll need some personal details like your address, contact information and Social Security number.
Make your first deposit
Fund your Key Select Money Market Savings account with an existing KeyBank account or an external bank account.
Enroll in online and mobile banking
Get online access to your money market account right away when you enroll in online and mobile banking.
