If you are searching for a money market account in Kentucky, there is a wide range of options available. Kentucky has hundreds of financial institutions that provide both online and traditional banking options for you to select an account.
The focal point for a money market account is the interest rate or annual percentage yield (APY). These accounts help you to grow your savings and achieve your goals faster by offering high APYs. While some banks pay a flat rate for all balances, others offer a tiered rate with higher balances earning more interest. Choose an account that helps you maximize the return, whether you are starting to save or already have a large amount saved up.
APY is not the only consideration because banks vary their rates depending on the prevailing market conditions. Other factors include the account fees, minimum requirements, safety, and ease of access. Look out for accounts that have a high APY, low fees, and potentially waive minimum requirements.
As for the ease of access, this applies for both withdrawals and deposits. Keep an eye out for an account with a debit card, check-writing capabilities, online or mobile access.
We reviewed some of the best money market accounts in Kentucky based on their rates, fees, and other features. Compare our top picks to find the most suitable fit for you today.
This is a great money market account which acts like a checking account in some aspects.
It comes with a debit card and check writing privileges but be careful not to go over the monthly limit of 6 transactions. Per transaction above the limit will be expensive, around $10 per transaction.
This money market account comes with a low intial deposit of $100 to open the account and comes with no monthly fees. Interest is compounded daily and paid monthly.
You'll earn the current APY rate regardless the amount you deposit in the account - there is no tiered system.