The Best Fixed Annuity and CD Rates in Kentucky (July 2024)

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

From the horse racing heartland of Louisville to the beautiful Appalachian Mountains, Kentucky offers a wealth of opportunities to grow your savings. This comparison is your comprehensive guide as you shop and compare the highest interest rates for certificates of deposit, savings rates, today’s money market rates, and guaranteed annuity interest rates across the Bluegrass State. Whether you entrust your finances to well-established banks, local credit unions, or the increasingly popular online platforms, we aim to demystify Kentucky’s financial landscape and help you navigate toward increased financial prosperity. By imparting critical insights to maximize interest rates and effectively grow your savings, this guide transforms the complex world of finance into an exciting journey toward wealth accumulation in Kentucky.

Our Favorite Rates To Grow Your Money

TermSavings AccountInstitutionAPY
N/AMoney Market AccountHarborstone Credit Union5.25%
N/ASavings AccountWestern Alliance Bank5.27%
12 MonthsCDBread Savings5.15%
5 YearsFixed AnnuityWichita National6.50%

Disclaimer: This is a comparison review. The Annuity Expert is not associated with a bank or credit union. We aim to help you find the highest interest rates for your savings. We may receive a small referral fee if you purchase something using a link in this guide.

The Best Fixed Annuity Rates In Kentucky

Disclaimer: Products are subject to state availability. Please inquire below for details.

The Best CD Rates In Kentucky

3-Month CD Rates

Banks and credit unions have the highest CD rates for three months.

Best 3-Month CD RatesRateTermMinimum
Merrick Bank5.25% APY3 Months$25,000.00
Total Direct Bank5.51% APY3 Months$25,000.00
Banesco USA 5.25% APY3 Months$1,000.00

6-Month CD Rates

The following banks and credit unions have the highest CD rates for six months.

Best 6-Month CD RatesRateTermMinimum
American Airlines5.35% APY6 Months$1,000.00
My eBanc5.45% APY6 Months$50,000.00
Total Direct Bank5.51% APY6 Months$25,00.00

1-Year CD Rates

The following banks and credit unions have the highest CD rates for 12 months.

Best 12-Month CD RatesRateTermMinimum
NexBank5.40% APY12 Months$25,000.00
Eastman Credit Union5.40% APY12 Months$100,000.00
USAlliance Financial5.40% APY12 Months$500.00

2-Year CD Rates

Banks and credit unions have the highest CD rates for 24 months.

Best 2-Year CD RatesRateTermMinimum
Crescent Bank4.90% APY24 Months$1,000.00
Eastman Credit Union5.40% APY24 Months$100,000.00
NexBank4.80% APY24 Months$10,00.00

3-Year CD Rates

Banks and credit unions have the highest CD rates for 36 months.

Best 3-Year CD RatesRateTermMinimum
Credit Human4.65% APY36 Months$500.00
First National Bank4.37% APY36 Months$500.00
Crescent Bank4.80% APY36 Months$1,000.00

4-Year CD Rates

The following banks and credit unions have the highest CD rates for 48 months.

Best 4-Year CD RatesRateTermMinimum
Eastman Credit Union4.65% APY48 Months$1,000.00
Crescent Bank4.50% APY48 Months$1,000.00
Credit Human4.65% APY48 Months$500.00

5-Year CD Rates

Banks and credit unions have the highest CD rates for 60 months.

Best 5-Year CD RatesRateTermMinimum
First National Bank of America4.50% APY60 Months$1,000.00
Eastman Credit Union4.75% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

How Do I Compare The Best Fixed Annuity Rates In Kentucky With The Best CD Rates In Kentucky?

Comparing the best-fixed annuity rates with the best CD rates in Kentucky can be done by taking the following steps:

  1. Determine your investment goals: Before comparing rates, it’s essential to understand your investment goals. For example, do you want a guaranteed return with a low-risk investment? Or are you willing to take on more risk for the possibility of higher returns? Understanding your investment goals will help you determine which investment is suitable.
  2. Research different providers: Insurance companies and banks offer Fixed annuities and CDs. Therefore, it’s essential to research different providers to compare interest rates and terms.
  3. Compare interest rates: The interest rate is one of the most important factors when choosing between a fixed annuity and a CD. Compare rates from different providers and choose the best rate for your investment goals.
  4. Consider the length of term: Fixed annuities and CDs both come with a fixed term, so it’s essential to consider the length of the term when comparing. A longer-term may offer a higher interest rate, but it also means that you’ll be committed to investing your money for a more extended period.
  5. Tax implications: As mentioned earlier, fixed annuities are tax-deferred, while CDs are not. Consider how taxes affect your returns when comparing Kentucky’s best fixed annuity and CD rates.

It’s also a good idea to speak with a financial advisor who can help you compare Kentucky’s best fixed annuity and CD rates and provide personalized advice based on your investment goals and financial situation.

How We Can Help

At The Annuity Expert, we understand that finding the right investment can be overwhelming. With 15 years of experience as an insurance agency, annuity broker, and retirement planner, we’re dedicated to helping you navigate your options to find the best solutions at the lowest costs.

Your Financial Challenge

The core problem we solve is finding secure and profitable savings solutions tailored to your needs. Many savers struggle with low-interest rates and uncertain financial products, which can lead to anxiety and frustration. We recognize these challenges and are here to offer our expertise.

Our Commitment to You

We believe in transparency, reliability, and personalized service. Our goal is to provide you with the highest quality financial products that ensure your money works as hard as you do.

What We Recommend

Step 1: Initial Consultation

  • First Step: Schedule a free consultation with our experts. During this session, we will understand your financial goals and assess your current investment strategy.
  • Main Benefit: Gain clarity on your financial goals and the best path forward.

Step 2: Personalized Recommendations

  • What We Do: Based on your unique needs, we will provide tailored investment recommendations that offer the best returns and terms.
  • Main Benefit: Receive personalized advice that maximizes your investment potential.

Step 3: Secure Your Investment

  • Final Step: We assist you in opening your chosen investment accounts, ensuring all details are handled smoothly and efficiently.
  • Main Benefit: Secure a high-return investment with confidence, knowing you’ve made an informed decision.

Features and Benefits

  • Expert Advice: Personalized guidance to help you select the best investment options.
  • Updated Rates: Access to the latest and most competitive investment products.
  • Convenience: A wide range of investment options in one place.

Addressing Common Objections

  • Objection: “I’m worried about investment risks.”
    Response: We’ll help you choose a diversified portfolio that matches your risk tolerance and financial goals.
  • Objection: “Investment options seem too complex.”
    Response: Our experts simplify the process, providing clear and concise recommendations tailored to your needs.

Without our guidance, you might miss out on the best investment options and returns, potentially impacting your financial growth and stability.

By working with us, you’ll enjoy higher returns on your investments, peace of mind from secure financial products, and the confidence that comes with expert financial advice.

Imagine the relief and satisfaction of knowing your investments are growing efficiently and securely. Our tailored approach ensures you feel valued, supported, and confident in your financial future.

For free advice or a personalized quote, contact The Annuity Expert. Let us help you secure the best investment options and achieve your financial goals.

The Best Fixed Annuity And Cd Rates In Kentucky (Ky)

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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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