A milling tool includes a toolholder having an insert-receiving pocket, a cutting insert having a hole provided therein, the cutting insert being disposed in the pocket and a clamping screw having a male key grip at a first end and zero or more key grips at a second end. The clamping screw extends through the hole in the cutting insert into a threaded hole in the toolholder so that threads on the clamping screw mate with threads in the threaded hole. The male key grip is remote from the cutting insert. The second end of the clamping screw includes an enlarged head including a clamping surface that abuts a clamping surface in the hole of the cutting insert. A clamping screw suitable for a milling tool is also provided.