KeyBank Personal Loan Review: Options, Rates & Requirements

KeyBank is a regional bank that’s been around for almost 200 years. With a strong presence in 15 states and nearly 1,000 branches, it’s known for offering a wide range of financial products. Among those, KeyBank personal loan options are worth a closer look.

Whether you’re consolidating debt, paying for a major purchase, or handling an emergency, a KeyBank personal loan might help. But is it the right fit for you? Now, we’ll cover everything you need to know about KeyBank loans, from loan types and rates to the application process and pros and cons. Let’s get started!

KeyBank Personal Loan Overview

First of all, it’s helpful to know KeyBank’s background and what distinguishes its loan offerings:

About KeyBank

KeyBank is one of the largest regional banks in the United States. With roots dating back to 1825, it’s headquartered in Cleveland, Ohio, and operates across 15 states, mainly in the Midwest, Northeast, and Northwest. The bank offers a full range of financial services, including checking and savings accounts, credit cards, auto loans, mortgages, and, of course, personal loans.

KeyBank prides itself on customer support and local service, while still offering modern online tools. If you live in one of the states where they operate, their personal loan products might be worth considering.

What Is a KeyBank Personal Loan?

A KeyBank personal loan is a type of installment loan. You borrow a fixed amount of money and repay it with fixed monthly payments over a set period.

KeyBank offers:

• Unsecured personal loans (no collateral required)
• Secured personal loans (backed by collateral)
• Personal lines of credit

Let’s explore each one in the section below.

KeyBank’s Personal Loan Options

KeyBank offers three main borrowing options:

KeyBank Unsecured Personal Loan

This is the most popular type of KeyBank personal loan, and it’s easy to see why. An unsecured personal loan at KeyBank doesn’t require you to offer anything as collateral, meaning you don’t need to use your car, savings, or any other asset to back the loan. Your approval mainly depends on your credit score, income, and financial history.

Key features include:

• Loan amounts: $2,000 – $100,000
• Terms: 12 to 84 months
• Fixed interest rates: typically between 13.74% – 18.99% APR (as of mid‑2025), vary by credit score and location
• No origination or prepayment fees
• Fast funding, sometimes on the same day if you have a KeyBank account

This loan is best for people with good to excellent credit who want a straightforward borrowing option with predictable monthly payments and quick access to funds, all without putting any personal assets on the line.

KeyBank Secured Personal Loan

If your credit isn’t perfect or you want a better rate, KeyBank also offers secured personal loans. These require collateral, usually from a KeyBank savings or CD account.

Key features:

• Loan amounts: $5,000 to $100,000 (with matching collateral)
• Terms: Up to 60 months
• Interest rate: Fixed (often lower than unsecured)
• Collateral: Savings, CDs, or vehicle titles (e.g., ATV, snowmobile)
• Ideal for those rebuilding credit
• Must apply in person at a branch

This option is especially helpful if you have savings to use as collateral and want to get a better rate or improve your credit profile through on-time payments.

KeyBank Personal Line of Credit

A personal line of credit is different from a traditional loan. Instead of receiving a lump sum, you’re given access to a set amount of money, like a financial safety net. With KeyBank personal line of credit, you can borrow as much as you need, when you need it, and only have to pay interest on the amount you really use.

Key features:

• Loan amounts: $500 – $25,000
• Interest rate: Variable
• Revolving credit: repay and reuse
• Access: Online, checks, or teller
• No annual fee
• Useful for ongoing or unpredictable expenses

Keep in mind, though, that if you carry a balance and interest rates rise, your total cost could go up. Still, it’s a flexible option for borrowers who want easy access to funds without needing to reapply every time.

KeyBank Personal Loan Rates, Terms, and Fees

When it comes to borrowing money, understanding the costs involved is just as important as getting approved. One of the best things about a KeyBank personal loan is that it comes with fixed interest rates. That means your monthly payments stay the same from start to finish, no surprises.

To get the lowest rates, borrowers usually need a FICO score of 740 or higher and must borrow at least $25,000.

Here’s a closer look at how the KeyBank personal loan rates and fees work:

• APR (Annual Percentage Rate): Typically ranges from 11.85% and 23.40%, depending on a few things like your credit score, income, and how long you want to take to pay off the loan.
• Rate Discounts Available: You can lower your interest rate by doing the following:
  • Get 0.25% off if you set up automatic payments from a KeyBank checking account.
  • Get 0.75% off if you’re a KeyBank relationship customer, meaning you have other qualifying accounts with them.
• No Hidden Fees:
  • $0 origination fee: You won’t be charged just to get the loan.
  • $0 prepayment penalty: Pay off your loan early and save on interest without being penalized.
  • $0 application fee: It’s free to apply.

These fee waivers make KeyBank an attractive option, especially if you’re looking for a lender that doesn’t tack on extra charges along the way.

Below is the KeyBank Personal Loan Rates & Fees table, helping you quickly grasp the loan conditions, interest rates, and available discounts:

KeyBank Personal Loan Eligibility & Requirements

To qualify for a KeyBank personal loan, you must meet several basic eligibility requirements:

• Be 18 years old or older.
• Have a valid Social Security number.
• Live in one of the 15 states where KeyBank offers loans: Alaska (AK), Colorado (CO), Connecticut (CT), Idaho (ID), Indiana (IN), Massachusetts (MA), Maine (ME), Michigan (MI), New York (NY), Ohio (. OH), Oregon (OR), Pennsylvania (PA), Utah (UT), Vermont (VT), Washington (WA)

In addition, KeyBank may ask for financial documents to verify your income and ability to repay the loan. These KeyBank personal loan requirements can include:

• Recent tax returns
• Pay stubs or proof of income
• Bank statements or financial summaries

Also, keep in mind that applying for a KeyBank personal loan will involve a hard credit check, which could result in a slight decline in your credit score.

Application & Funding Process

Applying for a KeyBank personal loan is a straightforward process, but there are a few important things to know ahead of time.

KeyBank Personal Loan Application

You can choose to apply for your KeyBank personal loan online or directly at a local branch. However, keep these points in mind:

• There’s no prequalification tool online, so as soon as you apply, KeyBank will do a hard credit check, which may temporarily impact your credit score.
• If you’re applying for a loan larger than $50,000, you’ll need to visit a branch to complete the process.
• Existing KeyBank customers may receive same-day approval depending on the loan size and credit profile.

While the lack of a soft check may be a downside for rate shopping, the process is fairly quick if you meet the requirements.

Online Application (For Unsecured Loans & Credit Lines)

If you’re applying for an unsecured personal loan or a personal line of credit, you can complete the entire process online:

1. Visit Key.com
2. Enter your ZIP code to confirm you’re in an eligible state.
3. Sign in or create a KeyBank online account.
4. Fill out the KeyBank personal loan application with the following details:
   • Personal information (name, address, Social Security number)
   • Employment and income information
   • The loan amount and repayment term you’re requesting
5. Submit your application.

Most borrowers receive a decision within 1 to 3 business days. If approved, you may receive your funds as early as the same day, especially if you already have a KeyBank account.

In-Person Application (Required for Secured Loans or Larger Amounts)

If you’re applying for a secured personal loan or want to borrow more than $50,000, you’ll need to visit a KeyBank branch in person. A banker will help you with the application and go over available options based on your financial profile and collateral.

KeyBank Personal Loan Funding Timeline

Most loans are funded within 1 to 3 business days after approval.

If you already have a KeyBank account, your funds may be deposited the same day your loan is finalized.

This makes KeyBank a great option for borrowers who need money fast, for things like unexpected medical bills or home repairs.

Customer Service & Assistance

If you’re having trouble making your loan payments, KeyBank offers support options to help you through difficult times. You may be eligible for a payment extension or a long-term hardship plan, depending on your situation.

• Payment extensions: You can skip one or more payments now and make them up later at the end of your loan.
• Lower monthly payments: They may let you reduce your payment amount for a while if you’re facing money problems.

These programs can give you some breathing room while you work on getting back on your feet financially.

To request help with your personal loan at KeyBank, simply call KeyBank’s support team:

• KeyBank Loan Support Phone: 1-866-425-3449
• Main KeyBank Customer Service 1-800-539-2968
• TTY (for hearing impaired): Dial 711

Or you can visit a local branch to speak with someone directly.

KeyBank customer service hours:

• Monday to Thursday: 8:00 AM – 7:00 PM ET
• Friday: 8:00 AM – 5:00 PM ET

When you reach out, be ready to talk about your current situation. They may ask for:

• Proof of your income and monthly expenses
• A short explanation of why you’re having trouble paying
• Your loan account information
• This helps them understand what kind of help you may need.

KeyBank is committed to helping you manage your loan and maintain financial stability, even when times get tough.

Pros and Cons of Personal Loans at KeyBank

Let’s break down the advantages and disadvantages of borrowing from KeyBank.

Pros

• No fees for unsecured loans
• Fixed rates make budgeting easier
• Same-day funding possible
• Loan terms up to 84 months
• Relationship discounts up to 1%
• Multiple products: unsecured, secured, and credit lines
• Online account tools for tracking and payment

Cons

• Only available in 15 states
• Secured loans require a branch visit
• No prequalification option (requires hard credit check)
• Lack of upfront transparency on exact rates and fees

5 Tips for Getting the Most from Your Loan

Want to make sure you’re getting the best value from your personal loan at KeyBank? Here are some smart, simple strategies:

1. Use autopay: It’s not only convenient but also helps you qualify for a lower interest rate, which saves money over time.
2. Bundle your accounts: If you open or already have a KeyBank checking account, you may unlock additional rate discounts.
3. Avoid late payments: Even though KeyBank won’t penalize you for paying early, late payments can hurt your credit score and cost you in interest.
4. Take advantage of borrower assistance: If you hit a rough patch financially, KeyBank has programs that can help. Don’t wait until things get worse to ask for support.
5. Borrow only what you need: The less you borrow, the less interest you’ll pay. Stick to the essentials to keep your loan manageable.

FAQs About KeyBank Personal Loans

What credit score do I need for a KeyBank personal loan?

• Most unsecured loans require a minimum credit score of 660. If your credit is below that, you might consider a secured loan, which may have more flexible approval criteria.

Can I use a KeyBank loan to pay off credit cards?

• Absolutely. Many people use these loans to consolidate credit card debt, which can help lower interest costs and simplify monthly payments.

Is there a prepayment penalty?

• Nope! You can pay off your loan early without facing any extra charges. That’s great if you come into extra cash and want to save on interest.

How fast can I get my money?

• In some cases, you could get the funds the same day, especially if you’re already a KeyBank customer. Most loans are funded within 1 to 3 business days.

How do I apply for a KeyBank personal loan?

• You can apply directly on KeyBank’s website for most loans. But if you’re applying for more than $50,000, you’ll need to visit a branch to complete the application.

KeyBank personal loan services offer a flexible and straightforward borrowing option, especially for customers within its service area. With competitive rates, relationship discounts, and solid online tools, it’s a strong choice for those with good credit. Just be sure to compare offers and check your eligibility before applying. For the right borrower, KeyBank can be a reliable lending partner.