KeyBasic Personal Line of Credit Info
The first thing you should know about the KeyBasic line of credit is that once you get it, you have money for up to 10 years. That is, you apply for an amount, pay it back and you can apply for more funds again. Although you do not need any type of collateral, keep in mind that interest is applied immediately.
This financial instrument does not include annual fee, but requires you to have a link with KeyBank, either a savings or checking account. As for the minimum payment, it can be $20 or 1/60th of the principal balance, plus interest and commissions, whichever is greater.
The bank charges a late fee of up to $35 for late payments, but no overdraft fees.
What are the requirements for the KeyBasic line of credit?
- Be 18 years of age or older
- Certify that the information on the application is accurate.
- Live in one of these states: Arkansas, Colorado, Connecticut, Idaho, Indiana, Massachusetts, Maine, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont or Washington.
- Agree to provide additional personal or business information if requested.
- Authorize KeyBank and/or one of the credit bureaus to investigate the information provided.
The KeyBasic line of credit can be a great help when you are having irregular income and need to cover some fixed or sudden expenses. Anyway, almost all banks offer this banking product and you can review their conditions on Busconomico to find the most convenient one.
Español: Línea de crédito KeyBasic de KeyBank