The Best Fixed Annuity and CD Rates in Kentucky (September 2023)

Shawn Plummer

CEO, The Annuity Expert

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.

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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.

TermInsurance CompanyAPY
N/AMoney Market Account – Optimum Bank5.26%
N/AMoney Market Account – FVC Bank5.26%
N/ASavings Account – CloudBank 24/7 5.26%
12 MonthsBread Savings CD5.60%
48 MonthsClear Spring Fixed Annuity5.15%
5 YearsAthene Fixed Annuity5.30%
10 YearsEquitrust Fixed Annuity6.00%
*Fixed annuities are only for saving money to use in retirement.

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.

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Find the highest interest rates for your savings, ranging from 3 months to 10 years, all in one place.

The Best Fixed Annuity Rates In Kentucky

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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 Bank5.30% APY3 Months$1.00
Oklahoma State Bank5.35% APY3 Months$1.00
Western Alliance Bank5.21% 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
Western Alliance Bank5.41% APY6 Months$1.00
Oklahoma State Bank5.40% APY6 Months$1.00
Generations Bank5.41% APY6 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 RatesRateTermMinimum
Western Alliance Bank5.51% APY12 Months$1.00
Bread Savings5.60% APY12 Months$1,500.00
Connexus Credit Union5.50% APY12 Months$1.00

2-Year CD Rates

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

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union4.95% APY24 Months$1.00
Idabel National Bank4.90% APY24 Months$1.00
Bread Savings5.15% APY24 Months$1,500.00

3-Year CD Rates

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

Best 3-Year CD RatesRateTermMinimum
Valley Bank5.60% APY36 Months$500.00
Bread Savings4.85% APY36 Months$1,500.00
The State Exchange Bank4.70% APY36 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 RatesRateTermMinimum
Bread Savings4.65% APY48 Months$1,500.00
The State Exchange Bank4.50% APY48 Months$1.00
Barclays4.45% APY48 Months$0.00

5-Year CD Rates

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

Best 5-Year CD RatesRateTermMinimum
Bread Savings4.65% APY60 Months$1,500.00
Barclays4.50% APY60 Months$0.00
The State Exchange Bank4.35% APY60 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:

  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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Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

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

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