If you reside in Kentucky and are looking for a good bank you can use for your financial transactions, then it’s your lucky day because Kentucky houses some of the best banks.
One of the steps to wealth creation is having a good bank that encourages you to save by giving you a fair rate.
This is because, when you have an emergency situation, the money you’ve saved up over time can help you solve it. After all, Waren Buffet said, “Don’t save what is left after spending; spend what is left after saving.”
With over 200 banks in Kentucky, selecting the best bank to keep your money, avoid unnecessary bank charges, get a loan, and even open a checking account can seem complicated.
Hence, while choosing a bank, you must know the banks’ interest rates, available account types, and even minimum deposits. These factors are very crucial and contribute to the ranking of the bank.
Conversely, if you’ve had a previous bad experience with your bank, then you can easily change banks to any of those listed below.
So, go through this article to discover the best Kentucky banks suitable for your needs.
The table of content below gives you a time-saving approach to reading the article better.
Table of contents
What Are The Best Banks In Kentucky?
Depending on your financial need and goals, there are good banks in Kentucky that can meet your needs.
Moreover, the best option is to get a bank that offers all the services you need at a satisfactory rate instead of using different banks for different services.
Among these top banks in Kentucky are online banks, traditional brick-and-mortar banks with a few branches, and many others.
So, here are the best banks in Kentucky. Remember that all these banks are FDIC insured, and the rates are on the Savings accounts.
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#1. U.S. Banks
Rate: 0.01%APY
Account Type: Checking, Savings, Credit,CDs
Minimum Deposit: $25
U.S bank is the fifth-largest bank in the country, with more than 70,000 employees and $495 billion in assets as of December 2019. The bank has the most significant number of bank branches in Kentucky, with over 120 branches in 60 cities and towns of Kentucky.
Established in 1863, the US bank has become a sizeable financial institution, giving you access to any banking product you need, loans included. As a matter of fact, it is known as one of the best banks for loans with its low APR (annual percentage rate) of 3.09% per year.
Similarly, the bank offers wealth management services and business banking options. It allows you to invest in securities ranging from stocks to mutual funds.
In Addition, you can manage your accounts when you travel. No matter where you are, you can access multiple online banking features that allow you to deposit checks, monitor account activity, pay bills, and more.
Find out more by clicking the button below.
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#2. Fifth Third Bank
Rate: 0% APY
Account Type: Checking, Savings, and CDs
Minimum Deposit: None
Fifth Third is one of the best banks for checking accounts. The bank has a large footprint in Kentucky, operating in 38 different cities and towns with over 1000 offices in 9 states.
Asides from regular bank accounts (savings and checking), the bank also offers opportunities to in stocks, bonds, or mutual funds. Plus, the bank wouldn’t force you to keep a minimum balance.
Fifth Third Bank offers specialized checking accounts designed for several categories of people in society. This checking account ranges from Preferred Checking, Student Banking, Military Checking, and Fifth Third Express Banking.
The bank allows you to combine your checking account with a savings or money market account. However, it offers low interest on savings.
Find out more about Fifth Third Bank by clicking the button below.
#3. PNC Bank
Rate: 0.01% APY
Account Type: savings, checking
Minimum Deposit: $25
Another one of the best banks in Kentucky is the PNC bank. This bank is perfect for small businesses and uses its wide range of services to make banking more accessible and convenient.
The bank has a vast network of operations, with over 80 branches in 36 different cities and towns in Kentucky and over 2000 offices in 21 states in the US.
PNC bank offers good credit card options, student lending solutions, and a student banking option known as Virtual Wallet Student.
Additionally, you can get Mobile deposit, online banking, text banking, and money transfer, to mention a few other banking tools for free. The bank also offers wealth management services to help you invest in the stock market.
However, the downside to this bank is that it has a low savings account interest rate.
Get to know more by clicking the button below.
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#4. Synchrony Bank
Rate: 0.60% APY
Account Type: IRA, Money market account, and Savings account.
Minimum Deposit: None
Customers who don’t want to go through the hassle of regular brick-and-mortar can decide to use Synchrony bank. Synchrony bank is one of the best online banking systems offering a high savings account yield.
The bank has made banking very easy by giving you access to manage your funds at any time and anywhere you are. You can decide to get their optional debit card which you can use with no fee at any ATM of your choice.
However, the downside is that there are no physical bank branch locations, so you do all your banking online, make complaints, and receive answers online.
Find out more about this online bank by clicking the button below.
#5. Chase
Rate: 0.01%APY
Account Type: Checking, savings and CDs
Minimum Deposit: $25
Chase, which operates under J.P Morgan Chase bank, is a wholly-owned subsidiary of JPMorgan Chase & Co. It is the largest bank in the US, with over 50 branches in 16 different cities and towns of Kentucky, and operates through its over 4000 offices in 31 states of the US.
Chase online lets you manage your Chase accounts, view statements, monitor activity, pay bills, or transfer funds securely from one central place. The bank is well known for its diverse credit cards.
The bank offers 27 rewards credit cards in total that are broadly categorized into travel, business, cash back, no annual fee, airline, and hotel. Each category has benefits and can save you a lot of money if used well.
Find out more by clicking the button below.
#6. Community Trust Bank
Rate: 0.10%APY
Account Type: Checking, Savings, CDs, IRAs
Minimum Deposit: $2500
Community trust bank is one of the banks that has been around for a long time. Founded in 1903, Community Trust bank has been serving the people of Kentucky with easy and convenient banking tools through its over 70 branches in 41 different cities and towns of Kentucky.
Throughout its 112 years in the banking industry, the Community Trust bank has been providing excellent banking services. Its mobile banking option allows you to carry out financial transactions anywhere and anytime.
Learn more about Community Trust bank by clicking the button below.
#7. Citizens Bank
Rate: 0.01%APY
Account Type: Savings, checking, and CDs
Minimum Deposit: $2500
Citizens financial group is one of the country’s oldest and largest financial institutions. Established in 1828, the bank offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions.
Citizens bank is a $132 billion commercial bank holding company with more than 1,500 branches, $179 billion worth of assets, approximately 3,900 ATMs, and more than 20,900 employees.
It also offers a wide variety of services and solutions in consumer banking and commercial banking.
Find out more by clicking the button below.
#8. Key Bank
Rate: 0.01% APY
Account Type: Savings, Checking, Investment accounts.
Minimum Deposit: $10
Another one of the best banks in Kentucky is KeyBank. KeyBank is the primary subsidiary of KeyCorp, which was formed in 1994 through the merger of Society Corporation of Cleveland (“Society Bank”) and KeyCorp (“Old KeyCorp”) of Albany, New York. The union briefly made Key the 10th largest US bank.
As soon as you enroll in Key Bank’s online banking, you gain access to the “HelloWallet” feature. This financial platform helps you manage your finances at one glance, thereby preventing you from making unnecessary expenses and saving more.
Since the banking industry is expanding, KeyBank has modified its banking services by providing technological tools through its platforms. Using the mobile app, you can pay bills, transfer money, and much more.
Get to know more outstanding features of KeyBank by clicking the button below.
#9. First Financial Bank
Rate: 0.05% APY
Account Type: Savings, Checking, money market accounts, CDs
Minimum Deposit: $1001
First Financial Bank is one of the oldest and largest banks in the country. Established in 1863, it has offered its customers top-notch banking services with a unique blend of high-level expertise.
The bank is a traditional brick-and-mortar bank, so that you can expect a physical location alongside several online banking services.
If you’re looking for a stress-free bank, First Financial bank is your best bet because its basic checking account has no monthly charge fee.
First Financial Bank gained MainSource bank and managed $9 billion in assets and $7 billion in deposits, making it a large bank and one of the best banks in Kentucky.
Learn more about this bank by clicking this button.
#10. Old National Bank
Rate: 0.05%APY
Account Type: Checkings, savings, Money Market Accounts, and CDs
Minimum Deposit: $50
The Old National bank is rounding up my list of best banks in Kentucky. The bank is a regional bank with about 200 retail branches operated by Old National Bankcorp.
In addition, Old National Bank is one of the most significant financial bank holdings, with assets at $20.5 billion. The bank offers cash management services, lease financing, debit cards, online banking, and other electronically accessed banking services.
Through its partnerships with other subsidiaries, the bank provides various services, including investment advisory and wealth management, investment and brokerage, investment consulting, and insurance agency services.
Get to know more about this bank by clicking the button below.
Conclusion
Below is a summary of the best banks in Kentucky, their account types, minimum deposits, and savings APY rates.
| Bank | Savings APY Rate | Minimum Deposit | Account Types |
| U.S. Bank | 0.01% | $25 | Checking, Savings, Credit, CDs |
| Fifth Third Bank | 0% | None | Checking, Savings, and CDs |
| PNC Bank | 0.01% | $25 | Savings, Checking |
| Synchrony Bank | 0.60% | None | IRA, Money market account, and Savings account. |
| Chase | 0.01% | $25 | Checking, Savings, and CDs |
| Community Trust Bank | 0.10% | $2500 | Checking, Savings, CDs, IRAs |
| Citizens Bank | 0.01% | $2500 | Savings, checking, and CDs |
| KeyBank | 0.01% | $10 | Savings, Checking, Investment accounts. |
| First Financial Bank | 0.05% | $1001 | Savings, Checking, money market accounts, CDs |
| Old National Bank | 0.05% | $50 | Savings, Checking, money market accounts, CDs |
