Highest Yielding CD Rates for Kentucky, KY

Includes Online Banks, Local Banks and Credit Unions / Updated December 6, 2023

All rates listed are Annual Percentage Yield (APY).


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12-Month Rates

  • 5.77% Online Rate
    12 Month Jumbo CD - $100,000 Min.

    Early Withdrawal Penalty is 3 months interest.

  • 5.67% Online Rate
    One Year CD - $10,000 Min.

    Warning: Early Withdrawal Penalty is 270 days interest.


  • 5.66% Online Rate
    1-Year CD - $25,000 Min.

    Early Withdrawal Penalty is 30 days interest.


    | May 30, 2023 |

    Thank you to this site for showing this CD rate. I could not find it on the three leading sites (Bankrate, BestCashCow or Nerdwallet). Heck, I couldn't even find it easily on CIBC's own website, but that... More Reviews

  • 5.65% Online Rate
    12 Month CD - $0 Min.
  • 5.65% Online Rate
    1-year CD - $0 Min.

    Early Withdrawal Penalty is 180 days interest.

    | April 1, 2023 |

    Terrible! Their bill pay does not always pay on time. I set payments for a certain date and they did not arrive on the “guaranteed” arrival date. We ended up with late fees for our credit card not once... More Reviews

  • 5.65% Online Rate
    12 Month CD - $1,000 Min.

    Early Withdrawal Penalty is 90 days interest.

  • 5.65% Online Rate
    12-Month CD - $25,000 Min.

    Early Withdrawal Penalty is 6 months interest.


    | June 13, 2023 |

    5% + on a savings rate is attractive, but the phone reps are trained to tell people as a first response to come to a branch to address any inquiries. (Thankfully, I don't live in Florida but I also means ... More Reviews

  • 5.60% Online Rate
    12-Month CD - $1,000 Min.

    Early Withdrawal Penalty is 90 days interest.

    | September 3, 2023 |

    The ACH processes at this bank are terrible. At maturity of my CD, the bank refused an external ACH drawn from an outside bank, in spite of providing assurances that this would not happen together with th... More Reviews

  • 5.60% Online Rate
    12 MONTH - $1,000 Min.

    Early Withdrawal Penalty is 90 days interest.

    | July 20, 2023 |

    This should be a red flag on their CD accounts! "APYs on term deposits assumes reinvestment of principal and interest at maturity, fees may reduce earnings on accounts." More Reviews

  • 5.55% Online Rate
    1-Year CD - $1,500 Min.

    Early Withdrawal Penalty is 180 days interest.

    | November 7, 2023 |

    The rates are good but it was a hassle getting my account set up. The app does not work. I purchased a 5 year CD and I hope I don't have any issues when it's time to cash it out. I wouldn't recommend Bread... More Reviews

18-Month Rates

24-Month Rates

36-Month Rates

  • 5.10% Online Rate
    3 Year CD - $0 Min.

    Early Withdrawal Penalty is 180 days interest.

    | April 1, 2023 |

    Terrible! Their bill pay does not always pay on time. I set payments for a certain date and they did not arrive on the “guaranteed” arrival date. We ended up with late fees for our credit card not once... More Reviews

  • 5.00% Online Rate with branch - View
    3 Year CD - $500 Min.

    Early Withdrawal Penalty is 6 months interest.

  • 5.00% Online Rate
    36 Month CD - $1,000 Min.

    Early Withdrawal Penalty in 180 days interest.

    | June 13, 2023 |

    These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can trans... More Reviews

  • 5.00% Online Rate
    36 Month Online CD - $1,000 Min.

    Early Withdrawal Penalty in 180 days interest.

    | June 13, 2023 |

    These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can trans... More Reviews

  • 5.00% Online Rate
    36 Month CD - $10,000 Min.

    Early Withdrawal Penalty is 365 days interest.


  • 4.95% Online Rate
    36 Month Online CD - $500 Min.

    Early Withdrawal Penalty is 90 days interest.


    | July 18, 2022 |

    And how is this an online bank if they are inundating me with invitations to a customer appreciation free movie showing in some remote location in Utah? More Reviews

  • 4.90% Online Rate
    3-Year CD - $1,500 Min.

    Early withdrawal penalty is 180 days interest.


    | November 7, 2023 |

    The rates are good but it was a hassle getting my account set up. The app does not work. I purchased a 5 year CD and I hope I don't have any issues when it's time to cash it out. I wouldn't recommend Bread... More Reviews

  • 4.86% Online Rate with branch - View
    36 Month Online CD - $500 Min.
  • 4.86% Online Rate with branch - View
    Jumbo 36 Month - $100,000 Min.

    | February 3, 2023 |

    So I financed a camper through this group. The plumbing water sewer black and gray tank fell to the ground 30 days after purchase. It was being “ fixed “ for almost 5 months the dealer assured me I wou... More Reviews

  • 4.85% Online Rate
    36 Month CD - $25,000 Min.

    Warning: Early Withdrawal Penalty is 2% of the account balance.

48-Month Rates

  • 5.20% Online Rate
    4-Year CD - $0 Min.

    Early Withdrawal Penalty is 180 days interest.

    | April 1, 2023 |

    Terrible! Their bill pay does not always pay on time. I set payments for a certain date and they did not arrive on the “guaranteed” arrival date. We ended up with late fees for our credit card not once... More Reviews

  • 4.75% Online Rate
    4 Year CD - $1,000 Min.

    Early Withdrawal Penalty is 1 year interest.


    | June 22, 2022 |

    I've been around this one for a while in all of its forms - including igo, bankpurely, giftsforbanking, etc. They are creative with the market and the customer service is responsive. It just requires too... More Reviews

  • 4.70% Online Rate
    48 Month CD - $25,000 Min.

    Warning: Early Withdrawal Penalty is 2% of the account balance.

  • 4.65% Online Rate with branch - View
    48 Month - $1,000 Min.
  • 4.65% Online Rate
    48 Month CD - $10,000 Min.

    Early Withdrawal Penalty is 365 days interest.


  • 4.61% Online Rate with branch - View
    Jumbo 48 Month - $100,000 Min.

    | February 3, 2023 |

    So I financed a camper through this group. The plumbing water sewer black and gray tank fell to the ground 30 days after purchase. It was being “ fixed “ for almost 5 months the dealer assured me I wou... More Reviews

  • 4.54% Online Rate
    4-Year CD - $1,000 Min.

    Early Withdrawal Penalty is 360 days interest.


  • 4.50% Online Rate
    4 Year CD - $0 Min.

    | April 1, 2023 |

    Terrible! Their bill pay does not always pay on time. I set payments for a certain date and they did not arrive on the “guaranteed” arrival date. We ended up with late fees for our credit card not once... More Reviews

  • 4.50% Online Rate
    48 Month Online CD - $500 Min.

    Early Withdrawal Penalty is 90 days interest.


    | July 18, 2022 |

    And how is this an online bank if they are inundating me with invitations to a customer appreciation free movie showing in some remote location in Utah? More Reviews

  • 4.50% Online Rate
    4-Year CD - $500 Min.

60-Month Rates

  • 4.75% Online Rate with branch - View
    5 Year CD - $500 Min.

    Early Withdrawal Penalty is 6 months interest.

  • 4.70% Online Rate with branch - View
    60 Month Online CD - $500 Min.
  • 4.70% Online Rate
    5 Year CD - $10,000 Min.

    Early Withdrawal Penalty is 730 days interest.


  • 4.65% Online Rate
    60 Month Online CD - $25,000 Min.

    Warning: Early Withdrawal Penalty is 2% of the account balance.

  • 4.59% Online Rate
    5-Year CD - $1,000 Min.

    Early Withdrawal Penalty is 360 days interest.


  • 4.55% Online Rate with branch - View
    60 Month - $1,000 Min.
  • 4.50% Online Rate
    60 Month CD - $0 Min.

    Early Withdrawal Penalty is 180 days interest.

    | November 9, 2021 |

    Higher rate but same old bank. Still engages in a process of not crediting deposits for two days after they are drawn. As a result, any transfers initiated after Wednesday will miss earning interest over t... More Reviews

  • 4.50% Online Rate
    5 Year CD - $0 Min.

    | April 1, 2023 |

    Terrible! Their bill pay does not always pay on time. I set payments for a certain date and they did not arrive on the “guaranteed” arrival date. We ended up with late fees for our credit card not once... More Reviews

  • 4.50% Online Rate
    5-Year CD - $1,500 Min.

    Early withdrawal penalty is 365 days interest.


    | November 7, 2023 |

    The rates are good but it was a hassle getting my account set up. The app does not work. I purchased a 5 year CD and I hope I don't have any issues when it's time to cash it out. I wouldn't recommend Bread... More Reviews

  • 4.45% Online Rate
    5-year CD - $5,000 Min.

    Early Withdrawal Penalty is 6 Months' Interest.

All rates listed above are Annual Percentage Yield (APY).

CERTIFICATE OF DEPOSIT (CD) QUESTIONS AND ANSWERS

What are Certificates of Deposit (CDs)?

CDs, often also called time deposits, are a savings vehicle similar to a savings or money market account, but guaranteeing a fixed rate in return for a consumer’s commitment to keep the money deposited until a specified date (the maturity date). Only in rare circumstances, and with the payment of a penalty, can the money be withdrawn early, and then it is at the bank’s discretion.

What are advantages and disadvantages of certificates of deposit compared to a savings account?

Since the rate is fixed, you avoid the risk of falling savings rates. You take on the risk of rising rates. Rates are above savings rates to compensate you for the risk of rising rates and to provide you with a premium for agreeing to keep your money on deposit until maturity. You should consider the rates above carefully in comparison with the best savings rates that may be available to you. Depending on your view of the direction of rates and the trajectory at which you believe they will rise, you may be more inclined to stick with shorter maturities (1-year) or you may find that that the premium of any CDs over savings rates does not provide adequate compensation.

What are the top current CD rates?

The table above lists best CD rates currently offered for several different maturities (lengths). Rates on longer maturities are ordinarily higher as they provide greater compensation for the risk of rising rates and provide you with a greater premium of depositing your money for a longer time.

Are the funds in certificates of deposit insured?

CDs in FDIC-insured or NCUA-insured institutions are insured so long as you remain within relevant insurance limits, ordinarily to a maximum of $250,000 within an ownership category. If you hold a CD that is accruing interest during the course of CD, you may wish to consider depositing no more than such amount that will, when combined with any other accounts you have at the bank or credit union, exceed $250,000 at maturity.

What is a reasonable Early Withdrawal Fee?

An Early Withdrawal Fee (also called an Early Termination Fee) is the fee charged by a bank for early termination of a CD (termination before maturity). This fee is ordinarily expressed by the bank in terms of months of interest, rather than as a flat fee, and if the CD is cancelled before that period has passed may reduce principal. A reasonable fee for early withdrawal from a CD (early termination of a CD) is said to make the CD more liquid. Rates & Info believes that a reasonable early withdrawal fee for a CD of less than one year is 3 months’ interest and a reasonable early withdrawal fee for a CD of 18 months to 5 years is 6 months’ interest. In a rising interest rate environment or one where you require liquidity, you should avoid CDs with more onerous Early Withdrawal Fees. Under any circumstance, you may wish to also favor No Penalty CDs. You may wish to read this important article in a competing website which indicates that banks may retain the right not to allow early termination even with payment of this fee.

Should I invest in CDs?

Your own risk tolerance level and personal situation determines your allocation to cash versus risk assets. Cash can be apportioned between savings accounts and CDs. However, if you feel interest rates will rise quickly, you should keep all of your cash in high-interest savings accounts.


The graph above shows how the average rates for CD accounts have trended over the last several years.


The graph above shows the difference in rate between average 5-year CD rates and average 1-year CD rates.

Compare Savings and CDs

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