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Savings

Kentucky Bank offers a variety of savings accounts. Use the comparison chart below to determine which savings account best suits your financial needs.

SAVINGS ACCOUNT OPTIONS

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
(tiered)
Basic Savings A Kentucky Bank Basic Savings Account is a good way to start a savings program. $50
(see details for minimum balance requirement)
Yes

.comSavings

 

Apply online for this savings account and earn interest, compounded daily. $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
Triple Crown Savers This unique savings account is geared towards kids. It’s a great way for your children to learn the importance of saving. The account is in the child’s social security number and it earns the same rate as a regular savings account. At account opening you’ll receive a plush, Triple Crown Savers horse named Buck! To open account, please present 2 forms of ID for your child (birth certificate & social security card are best). $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 Funds may be withdrawn upon graduation from high school or at the age of 18, without penalty.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 $5,500 ($11,000 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

 

All Kentucky Bank locations will be closed on Monday, May 29, in observance of Memorial Day. Thank you.

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