Unsecured Personal Loan
With lower rates, you may get out of debt faster.2
Combine higher-interest debt into one simple payment with an unsecured personal loan.1 Consolidation can put you in control by making your debt easier to manage, saving you time and money.2 This loan is flexible, so you can use it for just about anything. Applying is easy, either online or in a branch, and you could even have your money as soon as the same day.3
Overview
| Interest Rate |
Fixed |
|---|---|
| Loan Amount | Minimum $2,000, maximum $100,000 |
| Repayment Term | Up to 84 months4 |
| Origination Fee |
$0 |
| Collateral Needed | No |
Features
KeyBank unsecured personal loans can be great for debt consolidation2; unexpected expenses, including medical bills and car repairs; or major life events, like weddings or moving expenses.
- No Fees: No origination fee, no application fee, and no prepayment fee
- Fixed Interest Rate: Interest rates vary depending on loan amount and location. Your rate is fixed after enrollment.
- Manage Online: Access your loan statements, check your balance, and make payments in online and mobile banking.
- Flexible Payment Options: Several term lengths available with ability to lower interest rate.
- Get Funds Fast: Approval in just 1-3 business days, and funds can be available as soon as the same day.3
Application Process for an Unsecured Personal Loan
To apply, you must:
- Be 18 years of age or older
- Have a valid Social Security number
- Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
- Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
- Certify that all information submitted in the application is true and correct
- Authorize the bank and/or a credit bureau to investigate the information on the application
Frequently Asked Questions
An unsecured personal loan does not require collateral, meaning you don't have to use any assets as security for the loan. Instead, the loan approval is based on factors like your creditworthiness and income. A secured personal loan requires collateral, such as a title to an ATV, jet ski, snow mobile, tractor; a KeyBank CD or Savings Account, or a Key Investment Services (KIS) account.
Unsecured personal loans don't require collateral, so you don't risk losing any assets if you're unable to repay. They provide flexibility in terms of loan purposes, and the funds can be used for various personal needs. Unsecured personal loans can help build or improve your credit score if you make timely repayments.
All credit products are subject to credit approval. Income verification, such as pay stubs, tax returns, or personal financial statements, may be needed based on your qualifications. You do not have to disclose income from alimony, child support, or other maintenance unless you want to consider it for obtaining this loan.
Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
Funds may be available as fast as same business day of application under the following conditions: (1) certain underwriting criteria are met including, but not limited to, credit score; (2) loan funding does not require third-party payoff(s); (3) funds are deposited directly into a KeyBank account; and (4) complete loan signing by 2:00 p.m. ET on a day that the bank is open for business. Income verification may be required, which may delay availability of funds. Additional conditions may apply. All credit products are subject to credit approval and other program terms.
The actual rate and payment amount may vary and is determined by the product, term, loan amount and your credit qualifications.
Representative example of repayment terms for an unsecured personal loan: For $12,000 borrowed over 36 months at 11.99% APR, the monthly payment is $399. This example is an estimate only and assumes all payments are made on time. For loan terms greater than 60 months, you must meet additional credit requirements and KeyBank will add 0.25% to the stated APR.
