Key Bank is a Cleveland based corporation and has assets over 101 billion dollars. Key Bank is a full service bank that has 986 full service branches. For personal banking, it offers consumers a large variety of services. It has checking accounts, savings accounts, online banking, bill pay, credit cards, debit cards, IRAs, student loans, mortgages, home equity, auto loans, boat loans, and personal loans. Key Bank offers a variety of personal loans to fit the needs of every consumer.
History
- Key Bank’s history goes back to 1825 with Commercial Bank of Albany, New York and 1849 with Society for Savings of Cleveland, Ohio. It was the first bank to operate as “a single, nationwide retail bank” according to their website. It prides itself as being a community-focused bank that offers a wide variety of services.
Function
- Personal loans are a fixed amount of money that is paid back monthly over a specified period. Key Bank offers three types of personal loans: unsecured personal loans, secured personal loans, and home improvement loans.
Unsecured personal loans do not require you to have collateral for the loan. The minimum amount you can borrow is $5,000, and approval is given the same day you apply for the loan. You can access the money through online banking. Rates are competitive and usually less than credit cards.
Secured personal loans have competitive fixed or variable rates. The minimum amount you can borrow is $5,000, and like the unsecured loan, approval is the same day. You can access the money through online banking.
Benefits
Some customers prefer home improvement loans to access money for their home projects. Key Bank offers a home improvement fixed rate loan. They also offer three other finance options: home equity lines of credit, home equity loan, and personal line of credit. The minimum amount you can borrow is $5,000. There is same day approval and you can access the money through online banking
Considerations
- Key Bank customers, who have online banking, may apply for personal loans online. You must submit an application; include your social security number, email address, date of birth, address, employment information, and a form of identification such as a driver’s license. You must be at least 18 years old and live in one of the thirteen states where branch offices are located.