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To apply, simply print the application, fill out the applicable information requested, and bring to your local Kentucky Bank. Our Retail Bankers will be glad to assist you.
With just a small initial investment, you can open a Kentucky Bank savings account. If you make regular deposits you'll be amazed at how quickly your money grows.
A personal savings account is the perfect way to set aside money for a special purpose like buying a car or taking a trip. Use it to accumulate funds in a higher-yield money market account or certificate of deposit. It is also a great way to start children developing good savings habits.
| Account |
Description |
Minimum to Open |
Interest Bearing |
Savings Advantage
 |
This is a great option for people who want to earn a higher interest rate, but do not want a long term commitment. Earn a higher rate without locking up funds. |
$10,000 |
Yes |
Basic Savings
|
A Kentucky Bank Basic Savings Account is a good way to start a savings program. |
$50 |
Yes |
Health Savings Accounts
|
A H.S.A. is a tax-advantaged medical savings account available to tax payers in the United States who are enrolled in a High Deductible Health Plan (HDHP). It is an individual interest bearing checking account used to pay qualified Health care costs tax-free. Qualified plans can allow any unused funds to roll over from year to year and continue to earn interest tax-free. Click here to view the HSA tutorial. |
$50 |
Yes |
Looney Tunes Savings
|
It's a great way for children to learn the importance of saving. The Looney Tunes Savings Club works very much like a regular savings account. The account is in the child's social security number and it earns the same rate as a regular savings account. |
$50 |
Yes |
Christmas Club
|
A Kentucky Bank Christmas Club Savings account is a good way to save specifically for expenses around the holiday season. It offers an affordable savings method to anyone who wants to systematically save a small to moderate amount of money. |
$5 |
Yes |
College Savers Fund
|
This special fund allows you to prepare for your child's future. The account pays the same rate as the US EE Bond. The rate changes in conjunction with the EE Bond rate every six months. Regular, automatic deposits are encouraged in this account in order to build assets for college. Funds may be withdrawn upon graduation from high school or at the age of 18, without penalty. |
$25 |
Yes |
Individual Retirement Account - IRA
|
A Kentucky Bank Individual Retirement Account (IRA) is a tax-deferred savings plan with a wide range of maturities. An IRA allows individuals to contribute up to $5,000 ($10,000 for married couples with a non-working spouse), annually and possibly deduct their contribution from their current taxes. Individuals who have reached age 50 or older by the end of their taxable year may make catch-up contributions of an additional $1,000. (Consult your tax advisor for eligibility.) |
$100 |
Yes |
Certificate of Deposit - CD
|
A Certificate of Deposit is a guaranteed investment. The return will be the original deposit, plus the interest earned. The interest paid depends on the interest rate and the length of time agreed to leave your money on deposit. |
$2,500 |
Yes |
Savings Advantage
No long-term commitment needed.
| Minimum Opening Deposit $10,000 |
 |
This is a great option for people who want to earn a higher interest rate, but do not want a long term commitment. Earn a higher rate without locking up your money.
- $10,000 minimum deposit to open account
- $10,000 minimum monthly balance to avoid service fees
- $5 quarterly fee if the balance falls below $10,000 within a quarter
- Interest is earned on average collected daily balance
- Interest is compounded and paid monthly
- ATM access
- Monthly statement with images of withdrawals and deposits*
* Monthly statement only applies when there are automatic transfers, ATM transactions or if customer receives a combined account statement.
* Withdrawal limitations: Regulations permit six (6) transfers and withdrawals per statement cycle; up to three (3) transactions may be made by check, draft, or debit card, the remainder may be pre-authorized (automatic) transfers.
Basic Savings
A great way to start a savings program!
| Minimum Opening Deposit $50 |
|
A Kentucky Bank Basic Savings Account is a great way to start a savings program.
- Interest is earned on average daily balance. It is compounded daily and paid monthly.
- ATM access
- Quarterly statement*
- Fees are based on the balance for the calendar month
- If daily balance falls below $100, you will be charged a $2 monthly fee**
- You may make up to 4 withdrawals monthly at no charge.*** Each withdrawal over 4 will be performed at a charge of $2.00 each.
- Variable interest rate
- In the event you overdraw your account, an overdraft fee will be assessed
* Monthly statement only applies when there are automatic transfers, ATM transactions or if customer receives a combined account statement.
** Service fee will be waived for the first month the account is opened. After account has been open for a month and minimum balance is not $100 the $2 service fee will be charged.
*** Withdrawal limitations: Regulations permit six (6) transfers and withdrawals per statement cycle; up to three (3) transactions may be made by check, draft, or debit card, the remainder may be pre-authorized (automatic) transfers.
Health Savings Accounts
Take control of your health savings!
| Minimum Opening Deposit $50 |
|
Potential customers: Individuals who are under the age of 65 and are covered by a High Deductible Health Plan qualify. They cannot be covered by other health insurance or enrolled in Medicare. They cannot be claimed as a dependent on someone else’s tax return. Click here to view the HSA tutorial.
- $50 minimum opening deposit
- No minimum balance required
- No Kentucky Courtesy coverage or overdraft privileges
- Accessible by online banking, bill pay and e-statements
- Unlimited transactions
- Earns a variable rate of interest, compounded daily and paid monthly on collected balances
- Funds can be accessed by debit card, check and bill pay
- $10 set up fee (except blue ribbon clients)
- Monthly fee of $2.75
- Check order fee
- $25 closing transfer/rollover fee
Looney Tunes Savings Club
Children learn the importance of saving.
| Minimum Opening Deposit $50 |
|
With the help of Bugs Bunny and the Tasmanian Devil, our Savings Club is totally tuned to kids. It's a great way for children to learn the importance of saving. The Looney Tunes Savings Club works very much like a Kentucky Bank savings account. The account is in your child's social security number and it earns the same rate as a Kentucky Bank savings account.
- $50 minimum deposit to open account
- No minimum monthly balance required to avoid service fees as long as the account holder is age 18 or under
- Interest earned on average daily balance
- Quarterly statement
- No service fees
* Withdrawal limitations: Regulations permit six (6) transfers and withdrawals per statement cycle; up to three (3) transactions may be made by check, draft, or debit card, the remainder may be pre-authorized (automatic) transfers.
Christmas Club Savings
Save for the holidays.
| Minimum Opening Deposit $5 |
|
A Kentucky Bank Christmas Club Savings account is a good way to save specifically for expenses around the holiday season. It offers an affordable savings method to anyone who wants to systematically save a small to moderate amount of money. Interest paid only on automatic deposits from a Kentucky Bank account.
- $5 minimum deposit to open account
- $5 minimum monthly balance to avoid service fees
- $5 minimum monthly balance to receive interest
- Interest earned on average daily balance
- Penalty for early withdrwal
- Interest is paid if deposits are made electronically
- Interest rate may change without notice
College Savers Fund
Prepare for your child's future.
| Minimum Opening Deposit $25 |
|
Our College Savers Fund is a special fund that allows you to prepare for your child's future. The account pays the same rate as the US EE Bond. The rate changes in conjunction with the EE Bond rate every six months. Regular, automatic deposits are encouraged in this account in order to build assets for college. Funds may be withdrawn upon graduation from high school or at the age of 18, without penalty.
- $25 minimum deposit to open account
- Semi-annual statement
- Closed account fee is the loss of 6 months interest ($25 minimum)
- No withdrawals by check or pre-authorized transfers
Individual Retirement Account (IRA)
Planning for your future.
| Minimum Opening Deposit $100 |
|
The Kentucky Bank Individual Retirement Account (IRA) offers a wide range of maturities. We offer Traditional and Roth IRAs. An IRA allows individuals to make periodic contributions and possibly deduct their contribution from their current taxes. (consult your tax advisor for eligibility)
- $100 minimum deposit to open savings IRA account
- $2,500 minimum deposit to open certificate of deposit IRA account
- Maturity terms available from 1 year to 5 years
- Maximum annual deposit for working individuals: 100% of earned income or $5,000, whichever is less
- Maximum annual deposit for married couples with a non-employed spouse: total of $10,000, divided between the two individuals with neither annual deposit exceeding $5,000
- All or part of the contribution may be tax-deductible*. 100% of interest is tax-deferred until withdrawal
- Annual statements
- Early withdrawal penalties may apply
- Variable interest rate. Check with your branch CSR for rate information
* Customers should consult their tax advisor concerning deductibility of deposits
Certificates of Deposit
Make your savings grow!
| Minimum Opening Deposit $2,500 |
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Along with our savings accounts, we offer other ways to make your savings grow! A Certificate of Deposit is a safe, flexible account. Your return will be your original deposit, plus the interest earned. The interest paid depends on the rate and the length of time you leave your money on deposit.
- $2,500 minimum deposit to open account
- Maturity terms available from 7 days to 5 years
- Fixed interest rate on daily balance until maturity
- You choose how you want to receive your interest payments. Interest may accumulate in the CD, we will send you a check or we can automatically deposit into your Kentucky Bank checking, savings or money market account monthly, quarterly, semi-annually or annually.
- Additional deposits are not allowed until maturity. Check writing is not permissible
- CD information appears on your Kentucky Bank combined checking statement. Maturity notices are mailed prior to maturity date.
- Early withdrawal penalties apply
- One months interest or $10.00 minimum on terms less than 90 days*
- Three months interest on terms 90 days to 1 year*
- Six months interest on terms longer than 1 year*
* $10 minimum early withdrawal penalty
CDARS
Convenience & Security.
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Almost anyone who wants to combine the convenience of working with one financial institution with the security of FDIC insurance can benefit from CDARS.
- Full Insurance: Using the CDARS service, you can access up to $50 million in FDIC protection on CD investments.*
- One Bank: You work with Kentucky Bank to secure large deposits (from $10,000 to $50,000,000).
- One Rate: You earn one interest rate on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
- One Statement: You receive one regular statement detailing your CD investments. You no longer need to consolidate statements at the end of each month, quarter, or year.
- No Hidden Fees: There are no hidden fees of any kind. You will not be charged annual fees, subscription fees, or transaction fees for using the CDARS service. The rate you see is the rate you get.
- No Collateralization: Because CDARS deposits are eligible for full FDIC protection, you may not need to collateralize your deposits. This eliminates the time-consuming task of tracking collateral values.**
- A Wide Variety of Maturities: You can select from various maturities, ranging from 4 weeks to 5 years (260 weeks), and choose the terms that best suit your investment needs.
- Community Involvement: Your funds can support lending initiatives, including special development projects that strengthen the local community.***
[*] Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with Kentucky Bank.
[**] If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS or a particular CDARS transaction satisfies those restrictions.
[***] Because deposited funds are exchanged on a dollar-for-dollar basis with other banks in the network, the bank through which a depositor places his/her funds can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals/mandates. Alternatively, with a depositor's consent, the bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
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