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.
Earn The Highest Interest Rates On Savings Today
Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income.
| Term | Insurance Company | APY |
|---|---|---|
| N/A | Money Market Account – Optimum Bank | 5.26% |
| N/A | Money Market Account – FVC Bank | 5.26% |
| N/A | Savings Account – CloudBank 24/7 | 5.26% |
| 12 Months | Bread Savings CD | 5.60% |
| 48 Months | Clear Spring Fixed Annuity | 5.15% |
| 5 Years | Athene Fixed Annuity | 5.30% |
| 10 Years | Equitrust Fixed Annuity | 6.00% |
Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. We aim to help you find the highest interest rates for your retirement 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 Rates | Rate | Term | Minimum |
|---|---|---|---|
| Ponce Bank | 5.30% APY | 3 Months | $1.00 |
| Oklahoma State Bank | 5.35% APY | 3 Months | $1.00 |
| Western Alliance Bank | 5.21% APY | 3 Months | $1.00 |
6-Month CD Rates
The following banks and credit unions have the highest CD rates for six months.
| Best 6-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Western Alliance Bank | 5.41% APY | 6 Months | $1.00 |
| Oklahoma State Bank | 5.40% APY | 6 Months | $1.00 |
| Generations Bank | 5.41% APY | 6 Months | $1.00 |
1-Year CD Rates
The following banks and credit unions have the highest CD rates for 12 months.
| Best 12-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Western Alliance Bank | 5.51% APY | 12 Months | $1.00 |
| Bread Savings | 5.60% APY | 12 Months | $1,500.00 |
| Connexus Credit Union | 5.50% APY | 12 Months | $1.00 |
2-Year CD Rates
Banks and credit unions have the highest CD rates for 24 months.
| Best 2-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Connexus Credit Union | 4.95% APY | 24 Months | $1.00 |
| Idabel National Bank | 4.90% APY | 24 Months | $1.00 |
| Bread Savings | 5.15% APY | 24 Months | $1,500.00 |
3-Year CD Rates
Banks and credit unions have the highest CD rates for 36 months.
| Best 3-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Valley Bank | 5.60% APY | 36 Months | $500.00 |
| Bread Savings | 4.85% APY | 36 Months | $1,500.00 |
| The State Exchange Bank | 4.70% APY | 36 Months | $1.00 |
4-Year CD Rates
The following banks and credit unions have the highest CD rates for 48 months.
| Best 4-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.65% APY | 48 Months | $1,500.00 |
| The State Exchange Bank | 4.50% APY | 48 Months | $1.00 |
| Barclays | 4.45% APY | 48 Months | $0.00 |
5-Year CD Rates
Banks and credit unions have the highest CD rates for 60 months.
| Best 5-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.65% APY | 60 Months | $1,500.00 |
| Barclays | 4.50% APY | 60 Months | $0.00 |
| The State Exchange Bank | 4.35% APY | 60 Months | $1.00 |
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:
- 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.
- 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.
- 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.
- 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.
- 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.
Next Steps
When investing your hard-earned money, it’s essential to research and chooses an option that is right for you. By comparing fixed annuity and CD rates in Kentucky, you can make an informed decision about how to invest and secure your future prosperity. Plus, weighing up the tax implications of each investment type is also essential. So, if investing in fixed annuities or CDs in Kentucky seems the best option, why not contact us today for a free quote? We’ll be ready to provide you with the information and secure financial advice you need to make the right decision. Good luck with reaching your goals!
Next Steps
Kentucky has several top-rated annuity and CD providers, so choosing the right one for your needs can be challenging. That’s where we come in! Our team at The Annuity Expert and CD Rates is dedicated to finding you the best rates for your investment. Contact us today for a free quote and see how much you could save. Thanks for reading!
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.