KeyBank

• Comprehensive Loan Options
• Loan Amounts
• Interest Rates and Terms
• Overdraft Protection

Comprehensive Loan Options

If you need more than one kind of loan option, Key Bank is a terrific choice. This is because the bank can approve you for a number of different types of loans as well as no collateral line of credit called their KeyBank preferred credit line. The different loan types offer coverage for a number of categories such as a loans specifically for cars and motorcycles. In addition to these specific loan options, you will also be able to get a traditional secured personal loan or an unsecured personal loan.

A secured personal loan means that KeyBank will give you a loan if you are able to put up some sort of collateral if you default on your loan. An unsecured personal loan allows you to qualify for a loan without any sort of collateral to back it up. Having these flexible options from the same bank makes it easier to find the right kind of personal loan for your needs.

Loan Amounts 

Personal loans are a popular option for customers who want to pay off debt or take care of nagging medical bills without having to use credit cards or installment payments. The amount of money you need could vary considerably depending on the issue and your situation. Luckily, Key Bank will grant you a personal credit line of up to $50,000 and personal loans starting at $5,000 up to $50,000.

If you are in need of a personal loan that is more than $50,000, KeyBank sugests visiting one of its local banks where they may be able to work out a deal for certain, qualified borrowers.

Interest Rates and Terms 

Your interest rate will be dependent upon a few factors. The two most important interest rate factors include:

• Credit history and score
• Loan amount

Loan approval will be contingent upon your credit history. Depending on where you sit, your rates and terms will vary. The good news is, if your credit isn't quite where you'd like it to be, you don't have to be out of luck. You may have a steeper rate with less-than-ideal terms, but struggling credit doesn't mean you can't be approved.

Your loan amount also plays into your interest rate. The higher your loan amount, the lower your interest rate will be. The lower your loan amount, the higher your interest rate will be.

Overdraft Protection

Customers can link their loan accounts to their checking accounts to make payment more feasible and to ensure that money is available to pay off the loans. We love that Key Bank has experience under its belt. It has a seasoned management team that understands the banking industry and has thorough knowledge about lending and borrowing. Plus, the bank has nearly 1,000 branches across the country for customers to use, in addition to its well-built website, key.com. In addition, customers like that they can use Key Bank as a one-stop shop for all their banking and borrowing needs.

• Slower Than Necessary
• Poor Communication

Slower than Necessary

Big and experienced does not necessarily equal fast. This is apparent with Key Bank. The application and approval process is not as swift as other lenders, and wait times for simple questions can be inordinately long. 

Poor Communication

A frequent customer complaint is that customer service agents give people the run-around and fail to resolve issues in a courteous manner. Customer are often frustrated by the perception that agents aren't listening to them or to their questions and concerns.

Also, it's a shame that the bank has some minimum balance and usage rules, some of which are only made known via online means. But not all customers use online banking, thus effectively eliminating them from being apprised of this information. Key Bank has some strict rules and regulations concerning minimum balances and a minimum requirement for using credit cards. Customers are often not aware of these requirements and are then assessed fees by not abiding by them.

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