Key Bank Logo
star star_border star_border star_border star_border
LAST UPDATED: April 23rd, 2021
Key Bank started in 1825 but they are definitely not old fashion. Their company offers new technology like Apple Pay for their mobile banking. They also have options for all your banking needs like savings, CDs, loans, investing, insurance, and rewards programs. They have many account options and have excellent loan calculators for your vehicle loan. Key Bank has over 1,000 branches in 31 states.

Top Ranked Companies


The Good

  • Flexible terms
  • Financial tools
  • High loan cap

Great Services

Key Bank auto loans provide flexible terms, quick approval, and convenient online access. Their website is programmed with a payment calculator so when you view their interest rates you can personalize the payments to your individual plan. Its very simple, you enter your loan amount, term, credit rating, and purchase type - your monthly payments and APR are laid out conveniently for you.


  • No mileage limit
  • Loans from $5,000 up to $25,000
  • Fixed rate loan
  • Free application
  • Extended term length 24 months up to 72 months
  • Reward points offered for opening a new auto loan
  • Go Green bonus

Go Green Bonus

Our favorite part is the Go Green bonus. You can receive .25 percent off the standard APR when you purchase a qualifying fuel-efficient vehicle. This program will also enroll you in paperless billing. So if you're getting a fuel-efficient car, this might be the place for you. Key Bank also has a convenient online application with quick response. Not only can you apply for your auto loan online, but Key Bank is also willing to provide loans for boats, and recreational vehicles.

The Bad

  • Various fees
  • No free credit score
  • Lack of transparency


Key Bank has a free application; however, if you accept a loan offer from them you're looking at a $125 origination fee. They also do not offer a free credit score check. Another thing to keep in mind, Key Bank offers an online payment calculator that calculates your monthly payments based off your agreed term. However, this program makes it so you can't see your monthly payments displayed for each term option. It just makes it harder to compare your potential payments. Also, Key Bank doesn't have the best customer service ratings and they don't offer online customer service features. That being said, customer service won't affect your APR so that might not be as important to you.

Lack of Transparency

Another issue we have with Key Bank is the lack of transparency on their website. Customers should be provided with pertinent information before applying while they are shopping around for the right company for their needs. It also makes it difficult for our team to rank their services compared to other companies in the industry. We would like to see Key Bank provide information regarding term lengths for used cars, mileage limits, early-pay penalty fees, and bad credit loan options.

The Bottom Line

We would recommend Key Bank as a reliable source for an auto loan. With flexible term options you can find a loan at Key Bank that fits your financial schedule. We don't like the origination fee or the lack of transparency, but they make up for it with the Go Green auto loan that helps you save money on your APR.
Was this content helpful?
thumb_up Yes thumb_down No

Star Rating


star star_border star_border star_border star_border

1 Reviews

Review Breakdown

5 grade


4 grade


3 grade


2 grade


1 grade


Sentiment Criteria


star star_border star_border star_border star_border


star star_border star_border star_border star_border


star star_border star_border star_border star_border


star star_border star_border star_border star_border

Filter by:


Sort by:

star star_border star_border star_border star_border

Shawn O'Fallon Anchorage, AK

It seems to me that when applying for a loan the bank and its customer are entering in a kind of unspoken contract. The bank has agreed to loan the requested money to the customer under the qualifying circumstances and the customer agrees to take the loan if they qualify. This unspoken contract is to ensure that each party is not wasting each others time and not putting the other in a bad situation. Key Bank violated that understanding. We qualified but for some reason they did not want to do the loan. We provided all the documentation to prove we qualified but the bank kept dragging things out and then further. We applied for a boat loan. We gathered all the documents together to prove we qualified, not a small amount of work at that. After almost three weeks Key Bank asked for something that was kind of outrageous. They wanted to know how much Alaska Mining and Diving paid for the boat we were purchasing. The only thing the bank should be concerned with is how much the boat could be sold for if we defaulted. It seems clear now what Key Bank was trying to do was create circumstances in which the loan could be denied because not many dealers would be willing to provide such documentation and for understandable reasons. Unfortunately for Key Bank Alaska Mining and Diving did provide the documentation. Almost immediately after AMDS provided the documentation we got a disturbing call from our loan officer, luckily. Angelina is the kind of person you want as a loan officer. She told us that after almost three weeks of work and working exclusively with Key Bank, keeping with our side of the contract, the Bank was going to take at least two more weeks to decide if we got the loan. Based on her tone of voice, apologetic and embarrassed, and answers to my question it was apparent that the Bank did not want to do the loan for some reason but could not deny us based on our qualifications. In essence they were telling us to to away but could not muster up the courage, integrity, or legitimate reasons for doing so. Instead they were putting us in a situation in which we could be denied the loan just a couple of weeks before we were to take delivery. We were forced to go elsewhere and are now scrambling just a month before we are to take delivery to get financing elsewhere. Almost nine months before we had been insured by Jake that we were qualified and would get a loan, unless, of course, we were lying about our income and so forth. Luckily we applied much earlier than Jake recommended. Jake was not our loan officer but a manager as I understand it. We were lied to. Key Bank is not an institution of integrity. Legitimate businesses simply do not treat customers like this. Managers do not lie to customers and under circumstances like this would at least go to bat to make things right. Have not heard a word from Jake. Have only had profuse apologies from Angelina. Skip this bank and save yourself the headache.

3 years ago