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The accounts frequently come with checkbooks and debit cards to make it easy to access funds quickly and easily.
What Is a Money Market Account?
MMAs frequently have minimum balance and minimum deposit requirements.
In addition to higher interest rates, MMAs have another perk for consumers: accessibility.
Does KeyBank Offer Money Market Accounts?
Its also important to determine how much money you want to stash.
Then, transfer or deposit funds that meet the accounts minimum deposit requirements.
What Is the Minimum Opening Deposit for a KeyBank MMA?
KeyBank requires a minimum of $5,000 for the opening deposit of a money market account.
What Is the Interest Rate for a KeyBank Money Market Account?
The interest rate determines how your money will grow as it sits in the account.
The higher the interest rates are, the more money earned.
At KeyBank, interest rates for Money Market Accounts vary by location and by amount of deposit.
Generally interest rates climb with the balance.
When you open an account, you will need to type your ZIP code to see the interest rate.
For example, according to KeyBanks website, the standard rate for ZIP code 44114 can be up toAPY.
Additionally, interest is compounded daily for higher returns.
That variability also means that the interest rate attached to your account could fall.
Are There Withdrawal Limits on KeyBank MMAs?
What Is the Monthly Maintenance Fee?
Are KeyBank Money Market Accounts FDIC-Insured?
That means savers enjoy the same security with an MMA as with other types of bank accounts.
What Is the Best CD Rate at KeyBank?
KeyBank hassavings calculatorto help determine the exact rate.
There may also be higher fees associated with the account.
Additionally, KeyBank MMAs and most MMAs typically have variable interest rates, which comes with risks and rewards.
Information on promotions is accurate as of Aug. 8, 2024.
Additional requirements may apply.
Offers and terms are subject to change.
Rates may vary by region.
To verify rates in your area, check the issuers website for details.
This content is not provided by any entity covered in this article.
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