The Best Fixed Annuity and CD Rates in Kentucky (April 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 AccountUNCLE Credit Union5.26%
N/ASavings AccountCloudbank 2475.26%
12 MonthsCDBread Savings5.25%
5 YearsFixed AnnuityWichita National6.30%

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
Ponce Bank5.25% APY3 Months$1.00
Total Direct Bank5.42% APY3 Months$25,000.00
Western Alliance Bank5.26% APY3 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 RatesRateTermMinimum
American Airlines Federal Credit Union5.50% APY6 Months$1,000.00
My eBanc5.49% APY6 Months$50,000.00
Newtek Bank5.55% APY6 Months$50,000.00

1-Year CD Rates

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

Best 12-Month CD RatesRateTermMinimum
Broadway Bank5.60% APY12 Months$500,000.00
Nex Bank5.40% APY12 Months$25,000.00
Apple Federal Credit Union5.40% 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
Mountain Credit Union5.00% APY24 Months$2,500.00
Eastman Credit Union5.40% APY24 Months$1,000.00
Credit Human4.75% APY24 Months$500.00

3-Year CD Rates

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

Best 3-Year CD RatesRateTermMinimum
Mountain Credit Union5.15% APY36 Months$2,500.00
Hughes Federal Credit Union4.97% APY36 Months$99,000.00
Lafayette Federal Credit Union4.58% APY36 Months$100,000.00

4-Year CD Rates

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

Best 4-Year CD RatesRateTermMinimum
Bread Savings4.15% APY48 Months$1,500.00
NexBank4.45% APY48 Months$10,000.00
Fedchoice Federal Credit Union4.15% 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
Quontic4.30% APY60 Months$500.00
Lafayette Federal Credit Union4.37% 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.

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!

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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