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Basic Savings

A Kentucky Bank Basic Savings Account is a great way to start a savings program.

Basic Savings Details

  • Interest is earned on average daily balance. It is compounded daily and paid monthly.
  • ATM access
  • $50 minimum deposit to open account
  • 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 service charge**
  • You may make up to 4 withdrawals per month at no charge. Excess withdrawals over 4 will be performed at a charge of $10.00 each. Not included in the four (4) withdrawals are safe deposit box payments, loan payments, check protection transfers, wire transfers, and ATM withdrawals.
  • Variable interest rate

NOTICE: In response to COVID-19, the Board of Governors of the Federal Reserve System has changed Regulation D which limits the number of monthly transactions on savings accounts and money market accounts. From April 24, 2020 to October 31, 2020, savings accounts and money market accounts will NOT be limited to 6 transfers per month. In addition, we will eliminate the Excess Withdrawal Fee of $10 for those account types during this timeframe.


Withdrawal limitations:  Regulation permits no more than six (6) combined withdrawals and/or transfers per month or statement period by means of a preauthorized or automatic transfer (e.g., automatic payments to an insurance company), drafts, telephone or online transfers, debit card, or check (for accounts with check privileges).  Transfers to other Kentucky Bank accounts are counted as part of the six transaction limitation.  Transfers and withdrawals made in person, by messenger, by mail, or at an ATM are unlimited.
*Monthly statement only applies when there are automatic transfers, ATM transactions or if customer receives a combined account statement.
**Service charge will be waived for the first month the account is opened. After account has been open for a month and daily balance falls below $100, the $2 service charge will apply.

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