Highest Kentucky CD (Certificate of Deposit) Rates

Opening a certificate of deposit account in Kentucky will take a few minutes if done through the internet. Yet, keep in mind that just like any other investment tool, not all banks offer the same CDs. Some may have higher restrictions while others offer to higher rates. Many Kentucky banks offer online application for certificates of accounts along with access to KY-Kentucky CD (Certificate of Deposit) Rates of those banks. Here's a listing of the best financial institutions in Kentucky.

Compare the Best CD Rates in Kentucky

Account Type:
Certificates of Deposit
Amount:
Term:



Finding the Ideal Bank with High Kentucky CD (Certificate of Deposit) Rates

Certificates of deposit or CD's are similar to a savings account. Investors or depositors invest on funds in an account called certificates of deposit account and must choose a specific term for the funds. The specific term will be the duration of how long the funds should be left untouched by the depositor. This means that before the expiration of the term chosen, the depositor should not withdraw the funds. This, however, is not an exclusive mandate. The depositor can withdraw the funds, but he will be charged with an early withdrawal fee which is usually a portion of the interests earned by the fund.

Kentucky banks and credit unions provide investors with promising Kentucky CD (Certificate of Deposit) Rates. The rates are provided by the banks and credit unions themselves in their own websites. However, educational websites for finance and banking such as Bankrate.com also displays the APYs of featured banks and credit unions and compares them through a filtering-capable chart. Presently, here are a couple of a Kentucky bank and a credit union in Kentucky that promises certificates of deposit with high rates.

Kentucky Telco Certificate Accounts produce high dividend payouts that are based on credit unions earnings. The terms offered range from 90 days to 60 months. A minimum balance of $500 is required for these accounts. The APR and APY rates of a 90 day certificate of deposit are both 1.00% while the 60 Month Regular certificate of deposit has an APY of 2.90% and an APR of 2.77%.

The online bank, River City Bank, have an equivalent rate of 1.00% on each of the termed certificates of deposit. The CD has a very high APY which accounts to 2.7% for the 48 month CD. The minimum balance required to be initially deposited and maintained for the 91 and 182 day CDs is $1,000. The CDs with a term of one year to 48 months require a minimum opening and maintaining balance of $100.

While local banks and credit unions' certificates of deposit appeal the Kentucky residents, national banks and credit unions also provide high yields on the CDs. In fact, the national banks have beaten the local ones with their higher yields.

Discover Bank is currently the top provider of high earning certificates of deposit. The bank is FDIC insured and is constantly providing rates that are above the national average rate. The bank offers an APY of 0.65% for its 3 month CD and a 3.00% for its five year CD, which are so remarkable and very tempting. Their certificates of deposit also include terms that are beyond five years which earn very high interests, such as the ten year CD who has an APY of 3.50%

Kentucky CD (Certificate of Deposit) Rates remain to be competitive today especially when the national average is on the low. Kentucky investors should try to shop around for more rates or invest on the above mentioned banks. Certificates of Deposit may take time to grow, but at the end, there won't be regrets.

CD Rates by State:

ONLINE SAVINGS ACCOUNT

  • No minimum balance
  • Competitive rates, No risk

MONEY MARKET ACCOUNT

  • High rates, Access to money
  • FDIC Insured

CD Types


CDs Overnight Averages

Product
Yield
+/-
Last week


3 Mo CD
0.11
-
0.11


6 Mo CD
0.17
-
0.17


1 Yr CD
0.26
-
0.26


1.5 Yr CD
0.33
-
0.33


5 Yr CD
1.02
-
1.02


CDs Guides