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Kentucky Savings Rates 2017

If you have your savings dollars in a bank with low savings rates, then you are losing real money. With the magic of compounding interest, even an interest rate difference under 1% can really add up over time. See our Savings Booster Calculator to see why you should seek out a higher interest rate. The table below has an unbiased list of the savings and money market account rates of FDIC-insured banks that are near your current location (if they aren’t, then change the zip code above). Take a few minutes to explore these options and see how you can boost your savings by more than 6X the national average rate. You may also want to check credit unions near you or online banks by navigating through the tabs above. There is competition for your money. Take advantage of it!

KY - January 17, 2017

Savings Account National Average Rate: 0.13% ?

BANKS APY Vs. Nat'l Av. MIN MILES ?
First National Bank and Trust 2.00% 16.00x $5 -
First Financial Bank, National Association 0.65% 5.20x $5,000 -
Morgantown Bank & Trust Company, Incorporated 0.55% 4.40x $10,000 -
Peoples Bank & Trust Company of Hazard 0.50% 4.01x $2,500 -
Citizens Federal Savings and Loan Association 0.50% 4.00x $500 -
1st Trust Bank, Inc. 0.50% 4.00x $25 -
First Federal Savings and Loan Association 0.50% 4.00x $10 -
Dixon Bank 0.50% 4.00x $2,500 -
Bank of Hindman 0.50% 4.00x $2,500 -
The First National Bank of Russell Springs 0.50% 4.00x $100 -
Bluegrass Community Bank 0.45% 3.60x $10,000 -
Bank of Columbia 0.45% 3.60x $5 -
PBI Bank 0.45% 3.60x $5,000 -
Kentucky Neighborhood Bank 0.41% 3.28x $2,500 -
Bluegrass Community Bank 0.40% 3.20x $1,000 -
United Community Bank of West Kentucky, Inc. 0.40% 3.20x $10,000 -
Bank of Hindman 0.40% 3.20x $10 -
Peoples Bank and Trust Company of Clinton County 0.40% 3.20x $10,000 -
Bank of Jamestown 0.40% 3.20x $100 -
Peoples Bank & Trust Company of Hazard 0.35% 2.80x $10 -
First Security Bank 0.35% 2.80x $25,000 -
Reelfoot Bank 0.35% 2.80x $100 -
United Citizens Bank of Southern Kentucky 0.35% 2.80x $25 -
Bank of Buffalo 0.35% 2.80x $100 -
The First National Bank of Jackson 0.31% 2.48x $1 -
First Farmers Bank and Trust Company 0.30% 2.40x $25,000 -
Bank of Edmonson County 0.30% 2.40x $25,000 -
Eclipse Bank, Inc. 0.30% 2.40x $2,500 -
Winchester Federal Bank 0.30% 2.40x $10,000 -
King Southern Bank 0.30% 2.40x $100 -
Peoples Bank and Trust Company of Clinton County 0.30% 2.40x $1,000 -
Bank of Columbia 0.30% 2.40x $25,000 -
The First National Bank of Jackson 0.26% 2.08x $2,500 -
American Bank & Trust Company, Inc. 0.25% 2.00x $25,000 -
The First Capital Bank of Kentucky 0.25% 2.00x $100 -
Hyden Citizens Bank 0.25% 2.00x $25,000 -
Citizens Bank & Trust Company 0.25% 2.00x $1 -
Edmonton State Bank 0.25% 2.00x $25 -
Bluegrass Community Bank 0.25% 2.00x $1 -
Bank of Edmonson County 0.25% 2.00x $25 -
The Sacramento Deposit Bank 0.25% 2.00x $25,000 -
Peoples Bank of Kentucky, Inc. 0.25% 2.00x $15,001 -
Citizens Bank 0.25% 2.00x $100 -
First National Bank and Trust 0.25% 2.00x $5,000 -
Kentucky Farmers Bank Corporation 0.25% 2.00x $50 -
The Citizens Bank 0.25% 2.00x $25,000 -
Bank of Columbia 0.25% 2.00x $10,000 -
Commonwealth Community Bank, Inc. 0.25% 2.00x $100 -
South Central Bank, Inc. 0.25% 2.00x $100 -
Dixon Bank 0.25% 2.00x $25 -
The First National Bank of Brooksville 0.25% 2.00x $25,000 -
Citizens Commerce National Bank 0.25% 2.00x $100 -
Peoples Bank and Trust Company of Clinton County 0.25% 2.00x $50 -
City National Bank of West Virginia 0.25% 2.00x $25,000 -
The First National Bank of Russell Springs 0.25% 2.00x $2,500 -
First Federal Savings Bank of Kentucky 0.25% 2.00x $10 -
Citizens Bank & Trust Co. of Jackson 0.25% 2.00x $1 -
Pinnacle Bank, Inc. 0.25% 2.00x $1 -
Farmers Deposit Bank 0.25% 2.00x $25,000 -
First Community Bank of the Heartland, Inc. 0.22% 1.76x $1,500 -
TOWN SQUARE BANK 0.22% 1.76x $25,000 -
West Point Bank 0.21% 1.68x $1,000 -
Magnolia Bank, Incorporated 0.20% 1.60x $200 -
Auburn Banking Company 0.20% 1.60x $25,000 -
River City Bank, Inc. 0.20% 1.60x $1 -
First State Financial, Inc. 0.20% 1.60x $2,500 -
Hyden Citizens Bank 0.20% 1.60x $10,000 -
Eclipse Bank, Inc. 0.20% 1.60x $1,000 -
Winchester Federal Bank 0.20% 1.60x $2,500 -
United Citizens Bank of Southern Kentucky 0.20% 1.60x $25,000 -
Home Savings Bank, FSB 0.20% 1.60x $10 -
Bank of Edmonson County 0.20% 1.60x $2,500 -
The Sacramento Deposit Bank 0.20% 1.60x $50 -
Edmonton State Bank 0.20% 1.60x $2,500 -
First & Farmers National Bank, Inc. 0.20% 1.60x $25,000 -
Clinton Bank 0.20% 1.60x $10,001 -
Kentucky Farmers Bank Corporation 0.20% 1.60x $1,000 -
Security Bank and Trust Co. 0.20% 1.60x $2,500 -
Citizens Bank 0.20% 1.60x $25,000 -
Heritage Bank, Inc. 0.20% 1.60x $25,000 -
First National Bank and Trust 0.20% 1.60x $1 -
Bank of Lexington, Inc. 0.20% 1.60x $25,000 -
Farmers Bank and Trust Company 0.20% 1.60x $2,500 -
The Citizens Bank 0.20% 1.60x $1 -
The First National Bank of Manchester 0.20% 1.60x $25,000 -
The Lincoln National Bank of Hodgenville 0.20% 1.60x $10 -
Peoples Bank of Kentucky, Inc. 0.20% 1.60x $1,001 -
Franklin Bank & Trust Company 0.20% 1.60x $25,001 -
Taylor County Bank 0.20% 1.60x $25,000 -
First Farmers Bank and Trust Company 0.20% 1.60x $1 -
First State Bank, Inc. 0.20% 1.60x $10,000 -
Citizens Bank & Trust Company 0.20% 1.60x $10,000 -
TOWN SQUARE BANK 0.20% 1.60x $50 -
Inez Deposit Bank 0.20% 1.60x $2,500 -
Peoples Bank & Trust Company 0.20% 1.60x $200 -
Citizens Union Bank of Shelbyville 0.20% 1.60x $1,000 -
The First National Bank of Williamson 0.20% 1.60x $25,000 -
Clinton Bank 0.18% 1.44x $25 -
The Citizens Bank 0.18% 1.44x $1 -
TOWN SQUARE BANK 0.18% 1.44x $2,500 -
PBI Bank 0.17% 1.36x $100 -
United Cumberland Bank 0.17% 1.36x $25,000 -
Peoples Bank 0.16% 1.28x $25,000 -
Springfield State Bank 0.15% 1.20x $100 -
Lewisburg Banking Company 0.15% 1.20x $1 -
Bank of Jamestown 0.15% 1.20x $1 -
Hancock Bank & Trust Company 0.15% 1.20x $25,000 -
Auburn Banking Company 0.15% 1.20x $25 -
Farmers Deposit Bank of Middleburg, Inc. 0.15% 1.20x $20,000 -
The First Capital Bank of Kentucky 0.15% 1.20x $1,000 -
The Peoples Bank 0.15% 1.20x $25,000 -
Banterra Bank 0.15% 1.20x $2,500 -
Jackson County Bank 0.15% 1.20x $100 -
Commercial Bank 0.15% 1.20x $25 -
The Murray Bank 0.15% 1.20x $50 -
The Farmers National Bank of Scottsville 0.15% 1.20x $50 -
Victory Community Bank 0.15% 1.20x $2,500 -
The First National Bank of Manchester 0.15% 1.20x $100 -
Farmers State Bank 0.15% 1.20x $1 -
United Citizens Bank of Southern Kentucky 0.15% 1.20x $2,500 -
Bedford Loan & Deposit Bank 0.15% 1.20x $25,000 -
The Farmers Bank of Milton 0.15% 1.20x $50 -
United Community Bank of West Kentucky, Inc. 0.15% 1.20x $25,000 -
Citizens Bank of Kentucky, Inc. 0.15% 1.20x $25,000 -
Citizens Bank 0.15% 1.20x $10,000 -
Heritage Bank, Inc. 0.15% 1.20x $100 -
Independence Bank of Kentucky 0.15% 1.20x $25,000 -
Citizens Union Bank of Shelbyville 0.15% 1.20x $25,000 -
Kentucky Federal Savings and Loan Association 0.15% 1.20x $100 -
American Bank & Trust Company, Inc. 0.15% 1.20x $2,500 -
Inez Deposit Bank 0.15% 1.20x $100 -
Bank of Lexington, Inc. 0.15% 1.20x $100 -
Bank of the Bluegrass and Trust Company 0.15% 1.20x $10,000 -
The Farmers National Bank of Lebanon 0.15% 1.20x $25,000 -
First Federal Savings Bank of Kentucky 0.15% 1.20x $25,000 -
Town & Country Bank and Trust Company 0.15% 1.20x $25,000 -
Magnolia Bank, Incorporated 0.15% 1.20x $10,000 -
Commonwealth Community Bank, Inc. 0.15% 1.20x $1,000 -
The Farmers Bank 0.15% 1.20x $50 -
Citizens Bank & Trust Company 0.15% 1.20x $2,500 -
The Citizens Bank 0.15% 1.20x $2,500 -
Farmers Deposit Bank 0.15% 1.20x $2,500 -
First State Bank 0.15% 1.20x $5 -
The Casey County Bank, Inc. 0.15% 1.20x $20,000 -
Taylor County Bank 0.15% 1.20x $1 -
Green Bank, National Association 0.15% 1.20x $1 -
Security Bank and Trust Co. 0.15% 1.20x $50 -
First State Bank, Inc. 0.15% 1.20x $1,000 -
Traditional Bank, Inc. 0.15% 1.20x $100 -
River City Bank, Inc. 0.15% 1.20x $500 -
Community Financial Services Bank 0.15% 1.20x $100 -
Peoples Bank of Kentucky, Inc. 0.15% 1.20x $50 -
Bank of Columbia 0.15% 1.20x $2,500 -
First Farmers Bank and Trust Company 0.15% 1.20x $2,500 -
Kentucky Neighborhood Bank 0.15% 1.20x $10,000 -
Wesbanco Bank, Inc. 0.15% 1.20x $1,000 -
Bedford Loan & Deposit Bank 0.13% 1.04x $10,000 -
United Community Bank of West Kentucky, Inc. 0.13% 1.04x $10,000 -
First Federal Savings and Loan Association 0.13% 1.00x $5 -
Fredonia Valley Bank 0.12% 0.96x $2,500 -
United Cumberland Bank 0.12% 0.96x $10,000 -
Whitaker Bank 0.12% 0.96x $10,000 -
Farmers & Traders Bank of Campton 0.12% 0.96x $25,000 -
Peoples Bank and Trust Company of Madison County 0.12% 0.96x $10,000 -
The Lincoln National Bank of Hodgenville 0.12% 0.96x $25,000 -
PNC Bank, National Association 0.11% 0.88x $25,000 -
First Guaranty Bank 0.11% 0.88x $100 -
The Peoples Bank 0.10% 0.80x $10,000 -
Winchester Federal Bank 0.10% 0.80x $100 -
Bank of Clarkson 0.10% 0.80x $25 -
Community Trust Bank, Inc. 0.10% 0.80x $1 -
The Commercial Bank of Grayson 0.10% 0.80x $100 -
The Cecilian Bank 0.10% 0.80x $100 -
Farmers Deposit Bank of Middleburg, Inc. 0.10% 0.80x $50 -
United Cumberland Bank 0.10% 0.80x $1 -
Independence Bank of Kentucky 0.10% 0.80x $50 -
The First National Bank of Grayson 0.10% 0.80x $50 -
FORCHT BANK, NATIONAL ASSOCIATION 0.10% 0.80x $10,000 -
First State Financial, Inc. 0.10% 0.80x $500 -
West Point Bank 0.10% 0.80x $50 -
The Farmers National Bank of Danville 0.10% 0.80x $10,000 -
Citizens Guaranty Bank 0.10% 0.80x $1 -
The Monticello Banking Company 0.10% 0.80x $50 -
Hancock Bank & Trust Company 0.10% 0.80x $50 -
Citizens Bank 0.10% 0.80x $2,500 -
Stock Yards Bank & Trust Company 0.10% 0.80x $25,000 -
Whitaker Bank 0.10% 0.80x $100 -
City National Bank of West Virginia 0.10% 0.80x $1 -
The Murray Bank 0.10% 0.80x $10,000 -
Citizens Commerce National Bank 0.10% 0.80x $25,000 -
South Central Bank, Inc. 0.10% 0.80x $100 -
Peoples Bank 0.10% 0.80x $1,000 -
The First National Bank of Brooksville 0.10% 0.80x $2,500 -
The Sacramento Deposit Bank 0.10% 0.80x $2,500 -
Sebree Deposit Bank 0.10% 0.80x $50 -
Franklin Bank & Trust Company 0.10% 0.80x $1,001 -
Bedford Loan & Deposit Bank 0.10% 0.80x $100 -
The First National Bank of Williamson 0.10% 0.80x $1 -
Clinton Bank 0.10% 0.80x $2,501 -
Meade County Bank 0.10% 0.80x $15 -
Bank of the Bluegrass and Trust Company 0.10% 0.80x $100 -
Peoples Bank and Trust Company of Madison County 0.10% 0.80x $100 -
The Farmers Bank 0.10% 0.80x $2,500 -
Carrollton Federal Bank 0.10% 0.80x $5,000 -
Heritage Bank USA, Inc. 0.10% 0.80x $150 -
The Citizens National Bank of Lebanon 0.10% 0.80x $15 -
Citizens Deposit Bank & Trust 0.10% 0.80x $25,000 -
First State Bank, Inc. 0.10% 0.80x $25 -
The Casey County Bank, Inc. 0.10% 0.80x $1 -
Kentucky Federal Savings and Loan Association 0.10% 0.80x $5,000 -
Commonwealth Bank and Trust Company 0.10% 0.80x $1 -
First & Farmers National Bank, Inc. 0.10% 0.80x $25 -
Magnolia Bank, Incorporated 0.10% 0.80x $2,500 -
The Farmers National Bank of Lebanon 0.10% 0.80x $1 -
The Citizens National Bank of Somerset 0.10% 0.80x $25 -
First Federal Savings Bank of Kentucky 0.10% 0.80x $1 -
Farmers Bank and Trust Company 0.10% 0.80x $200 -
Hyden Citizens Bank 0.10% 0.80x $1 -
Century Bank of Kentucky, Inc. 0.10% 0.80x $100 -
Guardian Savings Bank, A Federal Savings Bank 0.10% 0.80x $100 -
American Bank & Trust Company, Inc. 0.10% 0.80x $1 -
Auburn Banking Company 0.10% 0.80x $2,500 -
Citizens First Bank, Inc. 0.10% 0.80x $200 -
Heritage Bank, Inc. 0.10% 0.80x $10,000 -
Springfield State Bank 0.10% 0.80x $2,500 -
Field & Main Bank 0.10% 0.80x $2,500 -
Farmers Deposit Bank 0.10% 0.80x $100 -
Citizens Union Bank of Shelbyville 0.10% 0.80x $50 -
The Lincoln National Bank of Hodgenville 0.10% 0.80x $2,500 -
United Community Bank of West Kentucky, Inc. 0.10% 0.80x $1 -
First & Peoples Bank and Trust Company 0.10% 0.80x $25 -
German American Bancorp 0.10% 0.80x $10,000 -
First Harrison Bank 0.10% 0.80x $2,500 -
Banterra Bank 0.10% 0.80x $10,000 -
Branch Banking and Trust Company 0.10% 0.80x $25,000 -
PNC Bank, National Association 0.09% 0.72x $10,000 -
Farmers & Traders Bank of Campton 0.09% 0.72x $10,000 -
The Paducah Bank and Trust Company 0.08% 0.64x $25,000 -
Field & Main Bank 0.08% 0.64x $200 -
Kentucky Neighborhood Bank 0.08% 0.64x $2,500 -
Fredonia Valley Bank 0.08% 0.64x $10 -
The Monticello Banking Company 0.08% 0.60x $10,001 -
Citizens Bank of Northern Kentucky, Inc. 0.07% 0.56x $25,000 -
Stock Yards Bank & Trust Company 0.07% 0.56x $10,000 -
Farmers Bank & Capital Trust Company 0.07% 0.56x $25,000 -
Heritage Bank USA, Inc. 0.07% 0.56x $10,000 -
Central Bank & Trust Co. 0.07% 0.56x $1 -
Farmers & Traders Bank of Campton 0.07% 0.56x $1 -
Peoples Bank 0.07% 0.56x $1 -
Sebree Deposit Bank 0.07% 0.56x $2,500 -
First Community Bank of the Heartland, Inc. 0.07% 0.56x $1 -
Central Bank of Jefferson County 0.07% 0.56x $1 -
United Bank & Trust Company 0.07% 0.56x $25,000 -
The Cecilian Bank 0.07% 0.56x $25,000 -
First Citizens Bank 0.07% 0.56x $25,000 -
United Cumberland Bank 0.07% 0.56x $25 -
Kentucky Bank 0.07% 0.56x $10,000 -
Commercial Bank 0.06% 0.48x $2,500 -
Cumberland Valley National Bank & Trust Company 0.06% 0.48x $2,500 -
The Paducah Bank and Trust Company 0.06% 0.48x $10,000 -
South Central Bank, Inc. 0.06% 0.48x $25,000 -
First Southern National Bank 0.06% 0.48x $5 -
Kentucky Neighborhood Bank 0.06% 0.48x $100 -
U.S. Bank National Association 0.06% 0.48x $10,000 -
Citizens Bank of Northern Kentucky, Inc. 0.05% 0.40x $1 -
City National Bank of West Virginia 0.05% 0.40x $1 -
Commercial Bank 0.05% 0.40x $2,500 -
Armed Forces Bank, National Association 0.05% 0.40x $100 -
Wilson & Muir Bank & Trust Company 0.05% 0.40x $100 -
Citizens First Bank, Inc. 0.05% 0.40x $2,500 -
The Monticello Banking Company 0.05% 0.40x $2,500 -
Home Federal Bank Corporation 0.05% 0.40x $25,000 -
Hyden Citizens Bank 0.05% 0.40x $100 -
German American Bancorp 0.05% 0.40x $1 -
Cumberland Valley National Bank & Trust Company 0.05% 0.40x $1 -
Citizens Bank of Kentucky, Inc. 0.05% 0.40x $1 -
Hancock Bank & Trust Company 0.05% 0.40x $2,501 -
Farmers Deposit Bank of Middleburg, Inc. 0.05% 0.40x $1,000 -
FORCHT BANK, NATIONAL ASSOCIATION 0.05% 0.40x $1 -
The Murray Bank 0.05% 0.40x $1 -
The Cecilian Bank 0.05% 0.40x $10,000 -
Peoples Bank 0.05% 0.40x $100 -
Branch Banking and Trust Company 0.05% 0.40x $1 -
Independence Bank of Kentucky 0.05% 0.40x $1 -
Commercial Bank 0.05% 0.40x $2,500 -
Carrollton Federal Bank 0.05% 0.40x $1 -
Taylor County Bank 0.05% 0.40x $1 -
Farmers Bank & Capital Trust Company 0.05% 0.40x $100 -
Citizens Commerce National Bank 0.05% 0.40x $1,000 -
The Commercial Bank of Grayson 0.05% 0.40x $2,500 -
First Citizens Bank 0.05% 0.40x $1 -
First Security Bank 0.05% 0.40x $1 -
The Peoples Bank 0.05% 0.40x $100 -
The Citizens National Bank of Lebanon 0.05% 0.40x $25,000 -
Heritage Bank, Inc. 0.05% 0.40x $2,500 -
First Harrison Bank 0.05% 0.40x $1 -
Heritage Bank USA, Inc. 0.05% 0.40x $2,500 -
Hometown Bank of Corbin, Inc. 0.05% 0.40x $25,000 -
The Citizens National Bank of Somerset 0.05% 0.40x $500 -
Cumberland Security Bank, Inc. 0.05% 0.40x $1 -
Traditional Bank, Inc. 0.05% 0.40x $2,500 -
Citizens Deposit Bank & Trust 0.05% 0.40x $10,000 -
Town & Country Bank and Trust Company 0.05% 0.40x $1 -
United Southern Bank 0.05% 0.40x $100 -
Bank of Cadiz and Trust Company 0.05% 0.40x $1,000 -
The Paducah Bank and Trust Company 0.05% 0.40x $300 -
The First National Bank of Brooksville 0.05% 0.40x $5 -
The Casey County Bank, Inc. 0.05% 0.40x $1,000 -
The First Commonwealth Bank of Prestonsburg, Inc. 0.05% 0.40x $100 -
Green Bank, National Association 0.05% 0.40x $1 -
Farmers State Bank 0.05% 0.40x $50 -
Morgantown Bank & Trust Company, Incorporated 0.05% 0.40x $1,000 -
FNB Bank, Inc. 0.05% 0.40x $1 -
Citizens Guaranty Bank 0.05% 0.40x $2,500 -
The Salyersville National Bank 0.05% 0.40x $100 -
Banterra Bank 0.05% 0.40x $100 -
United Bank & Trust Company 0.05% 0.40x $1 -
Wesbanco Bank, Inc. 0.05% 0.40x $300 -
Woodforest National Bank 0.05% 0.40x $1 -
Kentucky Bank 0.05% 0.40x $1,000 -
South Central Bank, Inc. 0.05% 0.40x $100 -
U.S. Bank National Association 0.05% 0.40x $10,000 -
Citizens Union Bank of Shelbyville 0.05% 0.40x $2,500 -
Century Bank of Kentucky, Inc. 0.05% 0.40x $15,000 -
Fifth Third Bank 0.05% 0.40x $25,000 -
First Guaranty Bank 0.04% 0.32x $2,500 -
Old National Bank 0.04% 0.32x $2,500 -
The Farmers National Bank of Danville 0.04% 0.32x $1 -
PBK BANK, INC. 0.04% 0.32x $25,000 -
Branch Banking and Trust Company 0.04% 0.32x $10,000 -
First United Bank and Trust Company 0.04% 0.32x $1 -
Hometown Bank of Corbin, Inc. 0.04% 0.32x $10,000 -
The Peoples Bank 0.04% 0.32x $25,000 -
South Central Bank, Inc. 0.04% 0.32x $10,000 -
Kentucky Bank 0.04% 0.32x $50 -
U.S. Bank National Association 0.04% 0.32x $1,000 -
Farmers & Traders Bank of Campton 0.04% 0.32x $1 -
Century Bank of Kentucky, Inc. 0.03% 0.24x $1 -
Branch Banking and Trust Company 0.03% 0.24x $1,000 -
The Farmers National Bank of Danville 0.03% 0.24x $1 -
Home Federal Bank Corporation 0.03% 0.24x $500 -
The Paducah Bank and Trust Company 0.03% 0.24x $2,500 -
Stock Yards Bank & Trust Company 0.03% 0.24x $1 -
First Kentucky Bank, Inc. 0.03% 0.24x $25,000 -
South Central Bank, Inc. 0.03% 0.24x $100 -
Armed Forces Bank, National Association 0.03% 0.24x $1 -
United Community Bank of West Kentucky, Inc. 0.03% 0.24x $2,500 -
The Bank of Harlan 0.03% 0.24x $250 -
PNC Bank, National Association 0.03% 0.24x $1 -
The Citizens National Bank of Lebanon 0.03% 0.20x $2,500 -
First Southern National Bank 0.02% 0.16x $2,500 -
Republic Bank & Trust Company 0.02% 0.16x $1 -
Home Federal Bank Corporation 0.02% 0.16x $10,000 -
The Huntington National Bank 0.02% 0.16x $2,500 -
PBK BANK, INC. 0.02% 0.16x $100 -
Bank of Maysville 0.02% 0.16x $1 -
MainSource Bank 0.02% 0.16x $1,000 -
Citizens Deposit Bank & Trust 0.02% 0.16x $25 -
Hometown Bank of Corbin, Inc. 0.02% 0.16x $1 -
Fifth Third Bank 0.02% 0.16x $10,000 -
The Peoples Bank 0.02% 0.16x $1 -
Branch Banking and Trust Company 0.02% 0.16x $1,000 -
First Kentucky Bank, Inc. 0.02% 0.16x $10,000 -
Farmers Bank and Trust Company 0.02% 0.16x $1 -
South Central Bank, Inc. 0.02% 0.16x $1,000 -
Fifth Third Bank 0.01% 0.08x $1 -
First Financial Bank, National Association 0.01% 0.08x $1 -
MainSource Bank 0.01% 0.08x $10,000 -
First Kentucky Bank, Inc. 0.01% 0.08x $1 -
Branch Banking and Trust Company 0.01% 0.08x $1 -
Planters Bank, Inc. 0.01% 0.08x $25 -
Old National Bank 0.01% 0.08x $1 -
Peoples Exchange Bank 0.01% 0.08x $1 -
U.S. Bank National Association 0.01% 0.08x $1 -
Regions Bank 0.01% 0.08x $2,500 -
JPMorgan Chase Bank, National Association 0.01% 0.08x $1 -
PNC Bank, National Association 0.01% 0.08x $2,500 -


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PRODUCT INFORMATION


Local Savings Accounts 2017

Savings accounts offer depositors flexibility along with the stability of FDIC insurance (assuming your deposit amounts are within FDIC limits – see below). Savings accounts are a good place to keep money for unforeseen expenses, as well as money that you may be preparing to use and want to keep safe. Individuals often use savings accounts for a home down payment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures. However, if you have cash that you do not believe you will need for at least a year, you may want to consider investing in a certificate of deposit.

While online savings account have grown in popularity and usage dramatically over the past fifteen years, some consumers prefer opening an account in a branch and having a personal relationship with the people who safeguard their money. Physical branches also provide an easy way to get cash instantly, to deposit checks, to access to notaries, and sometimes to get free coffee and donuts.

You will find a map with all banks that are close to you here.

FDIC Insurance

BestCashCow strongly recommends that when depositing money, you stay within the insured limits of the Federal Deposit Insurance Corporation (“FDIC”). You should not deposit over $250,000 at a single bank across all products (savings or share certificates, certificates of deposit or time deposits, etc.) unless these deposits are made across different product types (individual, joint, etc). Learn more about FDIC insurance and different product types here. If you are still uncertain whether you are within FDIC limits, you should visit the FDIC's website to determine your coverage limits based on your circumstances.

Advantages of Local Savings or Money Market Accounts:

  • Higher interest rate than a checking account, usually.
  • Personal service and interaction. Unlike an online account you are building a relationship with your banker by opening it in a branch.
  • Online access. Often, depending on the size of the bank, banks enable transactions and deposits to be performed online or through a mobile application.
  • Liquidity. Depositors can withdraw their money at any time.

Disadvantages:

  • A variable interest rate. Rates can change at any time. In a falling rate environment, this is a negative. In a rising rate environment, this is a positive.
  • A lower rate than an online bank. Branches are expensive and non-online banks often can't afford to pay as much interest as an online bank.

FREQUENTLY ASKED QUESTIONS ABOUT LOCAL SAVINGS RATES


Why do savings rates vary so much?

Even though rates are at levels that are historically very low, there is competition for your money. Like any active marketplace, there are buyers and sellers of goods and services at different prices. Banks have different cost structures and they also have different needs for capital. This leads to different rates.

BestCashCow’s surveys show that online banks offer higher savings and CD rates because they have lower expenses from not having to maintain brick-and-mortar locations. Therefore, we strongly recommend that all depositors consider the rates at online banks as savings and money market accounts online can easy be set up to enable quick transfers to your favorite local bank.

What is the difference between a savings account and a money market account?

The differences between a savings account and a money market account are largely arcane. Some money market accounts offer more ways access deposits by issuing checks and debit cards, but prudent consumers will compare the two interchangeably, focusing primarily on rates and service among FDIC-insured banks (or NCUA-insured, for credit unions). Most savvy consumers who plan their expenses and financial needs ahead find the additional functionality offered by money markets to be of little value and will choose whichever account (savings or money market) has the higher rate.

What does annual percentage yield (APY) mean?

Savings rates are displayed in terms of APY to indicate the effective annual-interest return, including the compounding of interest, of the course of a single year. $100,000 deposited in a savings or CD account with a 1.20% APY will earn $1,200 in the course of the year, but monthly interest in the first few months may be less than $100 a month (this also depends on the number of days in the month). Hence, the APY rate is ordinarily a couple of basis points above the real interest rates. Unlike with a Certificate of Deposit, your actual APY in a savings may vary if the rate changes.

How do I choose the right savings account and should I consider CDs?

Begin your search with the table here on BestCashCow.com that you have found. In addition to checking online savings rates, you should also check local bank rates and local credit union rates. If you are unlikely to require access to your cash for some time, you may also consider certificates of deposit (CDs). While CDs have penalties for early withdrawal that may even eat into your principal, the rates on 2, 3, 4 and 5 year CDs are ordinarily significantly higher than savings rates. Several other sections and articles on BestCashCow can also help you to identify your proper cash allocation between savings and CDs. Access these below. You should also familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.

8 POINT CHECKLIST FOR A GREAT BANKING RELATIONSHIP WITH YOUR LOCAL BANK

  • Find a bank with a location convenient to you. Location counts.
  • Choose a bank with good rates. Rates are important to get continued growth of your capital.
  • Choose a bank with an extensive network of fee-free ATM machines or which reimburses out-of-network ATM fees, if you still need to regularly access cash.
  • Avoid fees. Choose a bank which doesn’t have service fees provided you maintain a certain balance, which doesn’t charge for ACH inbound and outbound transfers, and which has low fees for things like international wire transfers and bounced checks.
  • Choose a healthy bank. If you click on a bank above, you’ll be taken to the bank’s financial detail. A healthy bank has happy employees and provides loyal service to its customers. No matter how healthy your bank is, stay within FDIC insurance limits.
  • Find something of value to offset what may be slightly lower rates than online accounts offer. Develop personal relationship with your bankers. Personal relationships can help you to get appropriate financial advice, and to navigate financial challenges and needs in the future. (Be careful with the financial advice you and be sure it is appropriate. Inappropriate financial advice is worth a lot less than no financial advice.) They can also put you in touch with others in your community who could be valuable personally and professionally to know. If you don't use your local savings account as an opportunity to build these relationships, you may find that you are better of banking online.
  • Choose a bank that is going to let you access your cash when you need. The great benefit of savings accounts over any other financial product (including CDs) is that you have absolute liquidity. If your bank in creating impediments to accessing your cash (paperwork, fees, etc.), then you need another bank.
  • Be aware that you can have more than one account. Having a great local savings account at a large or small bank near you can be great, but it doesn't need to stop you from opening one or more online savings accounts, or even developing a relationship with another local bank or credit union.

SAVINGS & CD BOOSTER CALCULATOR

Find out how much extra money you can earn by moving your bank money into an account that pays more.

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  • george koshefsky

    April 21, 2015

    Where is the list of the worst online banks to bank with or the States to avoid

  • ctyank January 19, 2015

    January 19, 2015

    Liberty Bank...Hamden, CT...new branch opening...special savings rate, 1.50% up to $100,000.00 through 2016...do not beleive it is available to om-line customer(s)...checking account linked, free...

  • Sol @ Travis

    September 29, 2013

    @ Travis

    In many cases we do provide this information. For example, the Belmont Savings Bank rate you list above comes with a clear disclaimer if you click the Learn more button. We're always trying to improve though and will certainly continue to gather additional information. Thanks for your comment.

  • Travis MacDonald

    September 29, 2013

    I find the numbers decieving. Some of your banks listed with the highest APR have many restrictions and requirements. I feel that these should be listed on your site in the "details" section to avoid any "bait-and-switch" claims. For instance, Belmont Savings Bank in Belmont, MA is listed as having a 1.00% APR, but the savings account requires a companion checking account with a daily average balance of 250,000. Another example is Salen Five cents Bank under the online banks. The account listed is not available on their website. When I inquired about it, they told me that particular savings product was reserved as an add-on for accounts with daily balances in excess of $10,000. It seems alot of research went into the details pages in terms of company financials and whatnot. Seems like a little more research could be done on the savings and checking products themselves.

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