Kentucky CD Rates 2023

Below are the best one-year CD Rates from banks in Kentucky. One-year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

KY - January 27, 2023

1 Year CD National Average : 0.43% ^?

Banks	APY	MIN	MILES ^?
Sponsored		Advertiser Disclosure
	4.15%	$2,500	-	Learn More on the Discover Bank website
Guaranteed returns. No account fees. Member FDIC.
Ivy Bank	4.85%	$1,000	-	Learn More Reviews
State Bank Of Texas	4.65%	$25,000	-	Learn More Reviews (10)
M.Y. Safra Bank	4.52%	$500	-	Learn More Reviews (6)
Bask Bank	4.45%	$1,000	-	Learn More Reviews
Citizens Bank, National Association	3.25%	$5,000	-	Learn More Reviews (1)
Hingham Institution For Savings	1.65%	$1,000	-	Learn More Reviews
River City Bank, Inc.	1.00%	$10,000	-	Learn More Reviews (2)
United Community Bank Of West Kentucky, Inc.	1.00%	$10,000	-	Learn More Reviews (1)
Bank Of Hindman	0.86%	$10,000	-	Learn More Reviews
Magnolia Bank	0.85%	$500	-	Learn More Reviews (1)
Bank Of Buffalo	0.85%	$10,000	-	Learn More Reviews
The Sacramento Deposit Bank	0.80%	$100,000	-	Learn More Reviews
First State Bank	0.80%	$10,000	-	Learn More Reviews
The Lincoln National Bank Of Hodgenville	0.75%	$10,000	-	Learn More Reviews
The Cecilian Bank	0.75%	$1,000	-	Learn More Reviews
West Point Bank	0.75%	$10,000	-	Learn More Reviews
Eclipse Bank, Inc.	0.75%	$10,000	-	Learn More Reviews
1st Trust Bank, Inc.	0.75%	$100,000	-	Learn More Reviews
Bank Of Clarkson	0.70%	$10,000	-	Learn More Reviews
Bank Of Edmonson County	0.65%	$100,000	-	Learn More Reviews
Heritage Bank, Inc.	0.65%	$500	-	Learn More Reviews
The Citizens Bank	0.65%	$10,000	-	Learn More Reviews
South Central Bank, Inc.	0.65%	$10,000	-	Learn More Reviews
First Federal Savings And Loan Association	0.65%	$10,000	-	Learn More Reviews
Field & Main Bank	0.60%	$10,000	-	Learn More Reviews
South Central Bank, Inc.	0.60%	$10,000	-	Learn More Reviews
1st Trust Bank, Inc.	0.60%	$10,000	-	Learn More Reviews
The Farmers Bank	0.55%	$500	-	Learn More Reviews
The Sacramento Deposit Bank	0.55%	$10,000	-	Learn More Reviews
Franklin Bank & Trust Company	0.55%	$10,000	-	Learn More Reviews
Century Bank Of Kentucky, Inc.	0.55%	$10,000	-	Learn More Reviews
Clinton Bank	0.51%	$10,000	-	Learn More Reviews
The First National Bank Of Russell Springs	0.50%	$10,000	-	Learn More Reviews
Bank Of Edmonson County	0.50%	$10,000	-	Learn More Reviews
Taylor County Bank	0.50%	$1,000	-	Learn More Reviews
Bank Of Cadiz And Trust Company	0.50%	$10,000	-	Learn More Reviews
First Kentucky Bank, Inc.	0.50%	$100,000	-	Learn More Reviews
Independence Bank Of Kentucky	0.50%	$10,000	-	Learn More Reviews
Planters Bank, Inc.	0.50%	$10,000	-	Learn More Reviews
First United Bank And Trust Company	0.50%	$10,000	-	Learn More Reviews
South Central Bank, Inc.	0.50%	$10,000	-	Learn More Reviews
Forcht Bank, National Association	0.50%	$10,000	-	Learn More Reviews
Meade County Bank	0.50%	$10,000	-	Learn More Reviews
The Farmers Bank Of Milton	0.50%	$100,000	-	Learn More Reviews
Home Savings Bank, Fsb	0.50%	$10,000	-	Learn More Reviews
Guardian Savings Bank, A Federal Savings Bank	0.50%	$10,000	-	Learn More Reviews (1)
Peoples Bank	0.50%	$500	-	Learn More Reviews
Citizens Bank & Trust Company	0.50%	$10,000	-	Learn More Reviews
United Citizens Bank Of Southern Kentucky	0.50%	$10,000	-	Learn More Reviews
Peoples Exchange Bank	0.50%	$10,000	-	Learn More Reviews
The First National Bank Of Manchester	0.50%	$100,000	-	Learn More Reviews
Hyden Citizens Bank	0.50%	$10,000	-	Learn More Reviews
The Murray Bank	0.45%	$1,000	-	Learn More Reviews
Bank Of Columbia	0.45%	$10,000	-	Learn More Reviews
Bank Of Jamestown	0.45%	$10,000	-	Learn More Reviews (17)
Springfield State Bank	0.41%	$500	-	Learn More Reviews
First Federal Savings And Loan Association	0.40%	$500	-	Learn More Reviews
Town & Country Bank And Trust Company	0.40%	$10,000	-	Learn More Reviews
First Financial Bank, National Association	0.40%	$10,000	-	Learn More Reviews
Limestone Bank, Inc.	0.40%	$10,000	-	Learn More Reviews
United Southern Bank	0.40%	$10,000	-	Learn More Reviews
South Central Bank, Inc.	0.40%	$10,000	-	Learn More Reviews
Stock Yards Bank & Trust Company	0.40%	$500	-	Learn More Reviews
The Farmers Bank Of Milton	0.40%	$500	-	Learn More Reviews
Bedford Loan & Deposit Bank	0.40%	$10,000	-	Learn More Reviews
First Federal Savings Bank Of Kentucky	0.40%	$10,000	-	Learn More Reviews (6)
First & Peoples Bank And Trust Company	0.40%	$100,000	-	Learn More Reviews
The First National Bank Of Grayson	0.40%	$100,000	-	Learn More Reviews
The Commercial Bank Of Grayson	0.40%	$10,000	-	Learn More Reviews
Citizens Bank Of Kentucky, Inc.	0.40%	$10,000	-	Learn More Reviews
First & Farmers National Bank, Inc.	0.40%	$10,000	-	Learn More Reviews
United Cumberland Bank	0.40%	$10,000	-	Learn More Reviews
Cumberland Valley National Bank & Trust Company	0.40%	$10,000	-	Learn More Reviews
Citizens Guaranty Bank	0.40%	$10,000	-	Learn More Reviews
Jackson County Bank	0.40%	$10,000	-	Learn More Reviews
Commercial Bank	0.40%	$10,000	-	Learn More Reviews
The First National Bank Of Manchester	0.40%	$10,000	-	Learn More Reviews
Peoples Bank & Trust Company Of Hazard	0.40%	$10,000	-	Learn More Reviews (1)
First National Bank Of Kentucky	0.35%	$1,000	-	Learn More Reviews
Banterra Bank	0.35%	$10,000	-	Learn More Reviews
Fredonia Valley Bank	0.35%	$10,000	-	Learn More Reviews
Republic Bank & Trust Company	0.35%	$10,000	-	Learn More Reviews (1)
Commonwealth Community Bank, Inc.	0.35%	$10,000	-	Learn More Reviews
Firstbank	0.35%	$10,000	-	Learn More Reviews
Morgantown Bank & Trust Company, Incorporated	0.35%	$10,000	-	Learn More Reviews
Citizens Commerce Bank	0.35%	$10,000	-	Learn More Reviews
Peoples Bank Of Kentucky, Inc.	0.35%	$10,000	-	Learn More Reviews
First & Peoples Bank And Trust Company	0.35%	$10,000	-	Learn More Reviews
The First National Bank Of Grayson	0.35%	$10,000	-	Learn More Reviews
Citizens Bank	0.35%	$10,000	-	Learn More Reviews
Farmers State Bank	0.35%	$1,000	-	Learn More Reviews
Lewisburg Banking Company	0.30%	$1,000	-	Learn More Reviews (1)
The First National Bank Of Williamson	0.30%	$100,000	-	Learn More Reviews
Auburn Banking Company	0.30%	$10,000	-	Learn More Reviews
American Bank & Trust Company, Inc.	0.30%	$1,000	-	Learn More Reviews
Armed Forces Bank, National Association	0.30%	$10,000	-	Learn More Reviews (2)
Citizens Federal Savings And Loan Association	0.30%	$10,000	-	Learn More Reviews
Whitaker Bank	0.30%	$10,000	-	Learn More Reviews (2)
The First National Bank Of Brooksville	0.30%	$10,000	-	Learn More Reviews
Pinnacle Bank, Inc.	0.30%	$10,000	-	Learn More Reviews
First State Bank Of The Southeast, Inc	0.30%	$10,000	-	Learn More Reviews
Farmers & Traders Bank Of Campton	0.27%	$10,000	-	Learn More Reviews
First Community Bank Of The Heartland, Inc.	0.26%	$500	-	Learn More Reviews
Farmers & Merchants Bank	0.25%	$100,000	-	Learn More Reviews
The Farmers National Bank Of Lebanon	0.25%	$500	-	Learn More Reviews
Kentucky Farmers Bank Corporation	0.25%	$10,000	-	Learn More Reviews
The Monticello Banking Company	0.25%	$500	-	Learn More Reviews
Security Bank And Trust Company	0.25%	$10,000	-	Learn More Reviews
Veritex Community Bank	0.25%	$10,000	-	Learn More Reviews
The Peoples Bank	0.25%	$10,000	-	Learn More Reviews
Traditional Bank, Inc.	0.25%	$10,000	-	Learn More Reviews
The Casey County Bank, Inc.	0.25%	$10,000	-	Learn More Reviews
Bank Of The Bluegrass And Trust Company	0.25%	$500	-	Learn More Reviews
Hometown Bank Of Corbin, Inc.	0.25%	$10,000	-	Learn More Reviews
The First National Bank Of Williamson	0.20%	$10,000	-	Learn More Reviews
Commercial Bank	0.20%	$500	-	Learn More Reviews
Wilson & Muir Bank & Trust Company	0.20%	$10,000	-	Learn More Reviews
First Harrison Bank	0.20%	$2,500	-	Learn More Reviews (1)
Fifth Third Bank, National Association	0.20%	$100,000	-	Learn More Reviews (5)
German American Bank	0.20%	$10,000	-	Learn More Reviews
Wesbanco Bank, Inc.	0.20%	$10,000	-	Learn More Reviews
Central Bank & Trust Company	0.20%	$10,000	-	Learn More Reviews (1)
Cincinnati Federal	0.20%	$10,000	-	Learn More Reviews
City National Bank Of West Virginia	0.20%	$10,000	-	Learn More Reviews
Security Bank And Trust Co.	0.20%	$10,000	-	Learn More Reviews
Bank Of Maysville	0.20%	$10,000	-	Learn More Reviews
Pbk Bank, Inc.	0.20%	$10,000	-	Learn More Reviews
Cumberland Security Bank, Inc.	0.20%	$10,000	-	Learn More Reviews
Bank Of Lexington, Inc.	0.20%	$10,000	-	Learn More Reviews
Home Federal Bank Corporation	0.20%	$10,000	-	Learn More Reviews
Citizens Bank & Trust Co. Of Jackson	0.20%	$10,000	-	Learn More Reviews
The Paducah Bank And Trust Company	0.18%	$5,000	-	Learn More Reviews
The Citizens National Bank Of Somerset	0.15%	$1,000	-	Learn More Reviews (1)
Farmers Bank And Trust Company	0.15%	$500	-	Learn More Reviews
Fnb Bank, Inc.	0.15%	$1,000	-	Learn More Reviews
Woodforest National Bank	0.15%	$10,000	-	Learn More Reviews (2)
Old National Bank	0.15%	$10,000	-	Learn More Reviews (2)
The Peoples Bank	0.15%	$10,000	-	Learn More Reviews
The Farmers National Bank Of Danville	0.15%	$10,000	-	Learn More Reviews
Pnc Bank, National Association	0.12%	$100,000	-	Learn More Reviews (1)
Sebree Deposit Bank	0.10%	$500	-	Learn More Reviews
Regions Bank	0.10%	$10,000	-	Learn More Reviews
U.s. Bank National Association	0.10%	$10,000	-	Learn More Reviews (1)
First Kentucky Bank, Inc.	0.10%	$10,000	-	Learn More Reviews
BB&T	0.10%	$10,000	-	Learn More Reviews (6)
First Southern National Bank	0.10%	$10,000	-	Learn More Reviews
Pnc Bank, National Association	0.10%	$10,000	-	Learn More Reviews (1)
First Financial Bank	0.10%	$10,000	-	Learn More Reviews
Peoples Bank	0.09%	$10,000	-	Learn More Reviews (1)
The Citizens National Bank Of Lebanon	0.08%	$10,000	-	Learn More Reviews
Pnc Bank, National Association	0.07%	$10,000	-	Learn More Reviews (1)
The Huntington National Bank	0.05%	$10,000	-	Learn More Reviews (1)
Fifth Third Bank, National Association	0.02%	$10,000	-	Learn More Reviews (5)
Jpmorgan Chase Bank, National Association	0.01%	$10,000	-	Learn More Reviews (18)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

See rates for Online Banks →

See rates for Credit Unions →

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2023

A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

CD Terms

The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.

CD Risk

Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.

Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.

How Interest is Paid

The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.

Interest Rate

Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch bank are:

Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
CDs provide a predictable, set rate of return.
Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of branch-based CDs are:

The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.
One year CDs from branch banks often pay less interest than from online banks. Please see those rates here.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.