Deposit and Loan Disclosures
*Annual Percentage Yield (APY)
Deposit information presented on the website of KeySavings Bank is in accordance with the Federal Reserves Truth in Savings Act (12CFR230). Interest rates displayed for deposit products are based on Annual Percentage Yield (APY) and may fluctuate at any time.Annual Percentage Yield (APY) is the amount you actually stand to earn in a year on an account that pays interest, like a savings account or CD. APY adds compound interest to your interest rate to show how much interest you’ll make as your money grows.
*Annual Percentage Rate (APR):
Loan information presented on the website of KeySavings Bank is in accordance with the Federal Reserve Truth in Lending Act (12CFR226). Interest rates displayed for loan products are based on an APR and may fluctuate at any time. The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate. It does not reflect fees or any other charges you may have to pay for the loan.
An APR is a broader measure of the cost of borrowing money than the interest rate. The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan. For that reason, your APR is usually higher than your interest rate.
If you have applied for a mortgage and received a Loan Estimate from one or more lenders, you can find the interest rate on page 1 under “Loan Terms,” and the APR on page 3 under “Comparisons.”
Tip: Take care when comparing loan options to be sure you understand any differences between the terms being offered:
- Take care when comparing the APRs of adjustable-rate mortgage loans. For adjustable rate mortgage loans, the APR does not reflect the maximum interest rate of the loan.
- Be careful when comparing the APRs of fixed-rate loans with the APRs of adjustable-rate loans, or when comparing the APRs of different adjustable-rate loans.
- Be careful about comparing the APR of a closed-end loan, which includes fees, to the APR of a home equity line of credit, which doesn’t. Don’t look at the APR alone in determining what loan makes the most sense for your circumstances.
Home Equity Loan Rate Disclosures:
Fixed Rate Home Equity Loan – Rates and terms subject to change. Normal underwriting guidelines apply. Standard fees at borrower’s expense.
Home Equity Line of Credit – Monthly Payments and Interest Only – Rates are subject to change and are indexed to the Prime rate. [“Prime” means the prime rate as published in The Wall Street Journal.] The rate may increase or decrease and cannot fall below 3.50% or exceed 18.00%. Appraisal or title insurance, if required, at borrower’s expense. Property insurance is required. Flood insurance may be required. Property must be owner-occupied with a maximum loan-to-value of 90%. Normal underwriting guidelines apply.
Mortgage Loan Rate Disclosures:
15, 20, and 30-Year Fixed Rate – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs.
Construction Loan – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs.
Adjustable Rate Mortgage
Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs. Your interest rate cannot change, increase or decrease more than one percentage point at each adjustment.
Copyright Notice and Disclosures
Use of Information
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Descriptions of, or references to, products, services or publications within KeySavings Bank’s web site does not imply endorsement of that product, service or publication. KeySavings Bank makes no warranty of any kind with respect to the subject matter included herein, the products listed herein, or the completeness or accuracy of the information. KeySavings Bank specifically disclaims all warranties, express, implied or otherwise, including without limitation, all warranties of merchantability and fitness for a particular purpose.
This publication could include technical inaccuracies or typographical errors. Changes may be periodically made to the information herein.
Facts, data, & other information presented on KeySavings Bank website pages are provided directly by KeySavings Bank.
KeySavings Bank, our employees, officers, and directors, as well as BankSITE�, are not responsible for typographical errors or errors of omission; and, we cannot guarantee that all information is accurate or complete.