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Best Savings Accounts in Kentucky of November 2022

Victoria Daniel

Whether you are saving for an emergency fund, college fund, vacation fund, or for your long-term goals, you need the right high-yield savings account. 

Kentucky is home to some of the best banks in the country. These banks provide residents with a wide variety of high-yield savings accounts to choose from.

Unlike the standard savings accounts, a high-yield savings account will help you grow your funds quicker. They offer a high annual percentage yield (APY), typically many times more than the average savings account interest rate of 0.05%.

While the APY is usually the first consideration, there are other factors to consider to find the most suitable match for you. For example, when you are shopping around, you may find an account that meets your personal preferences better than the others, even if it offers a lower APY. It is crucial to pay attention to the account fees, minimums, digital experience, customer service, and security.

Finding an account that is better suited to you can be very challenging. To help you with this process, we reviewed some of the best savings accounts in Kentucky. We considered multiple factors from customer experience to ease of use to choose our top picks.

Compare these options to find an account that is better suited for your needs today.

Access to checking writing

3.83%

Est. APY

$0

Min. To Earn APY

Overview

UFB Direct comes with check-writing capabilities and a free ATM card with a national network of fee-free ATMs.

What we like

  • Competitive interest rates
  • No minimum deposit
  • No recurring maintenance fees
  • Nationwide fee-free ATMs
  • Check writing capabilities
  • FDIC insured

What we don't

  • No physical branches
  • Account options are limited

Nationwide access to ATMs

3.00%

Est. APY

$0

Min. To Earn APY

Overview

A Discover Online Savings Account can be a great option for the avid saver where you can take advantage of daily compounding.

What we like

  • High APY
  • No minimum deposit
  • No recurring maintenance fees
  • 60,000+ Nationwide fee-free ATMs
  • No insufficient funds fee
  • User friendly mobile app

What we don't

  • Out-of-network ATM fees

Bank online with no monthly fees

3.25%

Est. APY

$0

Min. To Earn APY

Overview

This savings account is unique where you need to deposit $100 a month to get the highest APY. If you don't deposit $100+ a month, then you need to maintain $25,000 in the account. If you don't do either, you won't receive the higher end APY.

What we like

  • No monthly fees
  • FDIC Insured
  • No minimum balance fees
  • Online banking

What we don't

  • Minimum opening deposit
  • No ATM access
  • Tiered APY

Track savings on the mobile app

3.00%

Est. APY

$0

Min. To Earn APY

Overview

Quontic Bank high yield savings account provides you with the opportunity to accrue interest at a rate 15x higher than the national average. Interest compounds daily and is paid into your account every month.

What we like

  • Mobile and online banking
  • Competitive interest rate
  • No monthly service fees
  • Interest compounded daily

What we don't

  • Limited access to physical branches
  • No sign up bonus
  • $100 minimum deposit requirement

No monthly and minimum fees

0.61%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus