Best Banks In Kentucky In 2021 | Rates, Account Types, Min. Deposit


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.

More so, 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, it is the money that you’ve saved up over time that 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 to be difficult.

Hence, while choosing a bank, it is important you get to 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 these listed below.

So, go through this article to discover the best banks in Kentucky that is suitable for your needs.

The table of content below gives you a time-saving approach to read the article better.

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 include online banks, traditional brick-and-mortar banks with a few branches, and others with lots of branches.

So, here are the best banks in Kentucky. Bear in mind that all these banks are FDIC insured, and the rates are on Savings account.

#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 asssets as of December 2019. The bank has the largest number of bank branches in kentucky with over 120 branches in 60 cities and towns of kentucky.

Established in 1863, US bank has grown to become a large financial institutuion, giving you access to any banking product that you need, loan 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 gives you the opportunity 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 have access to multiple online banking features that allow you to do deposit checks, monitor account activity, pay bills and more.

Find out more by clicking the button below.

#2. Fifth Third Bank

Rate: 0% APY

Account Type: Checking, Savings, and CDs

Minimum Deposit: None

Fifth Third bank is known as 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 if you want. However, it offers low interest on savings.

Find out more about the 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 easier and more convenient.

The bank has a wide network of operation, with its 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, lending solutions for students, as well as a student banking option known as Virtual Wallet Student.

Additionally, you can get Mobile deposit, online banking, text banking, 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.

#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 using regular brick-and-mortar can decide to use Synchrony bank. Synchrony bank is one of the best online banking systems that offer a high yield on its savings account.

The bank has made banking very easy by giving you access to manage your funds at any time and from 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 to this is that there are no physical bank branch locations, so you carry out 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 known as 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 is packed with 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 from anywhere you are and at any time.

Learn more about the 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 oldest and largest financial institutions in the country. 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.

Additionally, 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 the 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 merger briefly made Key the 10th largest US bank.

As soon as you enroll in Key Bank’s online banking, you gain acces 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 their platforms. You can pay bills, transfer money, and lots more by just using the mobile app.

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 been offering its customers top-notch banking services with a unique blend of high-level expertise.

The bank is a traditional brick-and-mortar bank, so you can expect a physical location, alongside several of its online banking services.

If you’re looking for a stress-free bank, First Financial bank is the best bet for you because its basic checking account has no monthly charge fee.

First Financial Bank gained MainSource bank, and manages $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

Rounding up my list of best banks in kentucky is the Old National bank. 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 largest 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.


Below is a summary of the best banks in Kentucky, as well as their account types, minimum deposits, and savings APY rate.

BankSavings APY RateMinimum DepositAccount Types
U.S. Bank0.01%$25Checking, Savings, Credit, CDs
Fifth Third Bank0%NoneChecking, Savings, and CDs
PNC Bank0.01%$25Savings, Checking
Synchrony Bank0.60%NoneIRA, Money market account, and Savings account.
Chase0.01%$25Checking, Savings, and CDs
Community Trust Bank0.10%$2500Checking, Savings, CDs, IRAs
Citizens Bank0.01%$2500Savings, checking, and CDs
KeyBank0.01%$10Savings, Checking, Investment accounts.
First Financial Bank0.05%$1001Savings, Checking, money market accounts, CDs
Old National Bank0.05%$50Savings, Checking, money market accounts, CDs
best banks in Kentucky
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