Below are the highest yielding money market account rates serving citizens of the state of Kentucky.
If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.
After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Kentucky, we have found that in some instances you may be able to lock in more competitive rates with national institutions rather than local ones. Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market accounts.
Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.
Top 2 MMA (money market account) rates in Kentucky:
(click on the institution for more information)
- South Central Bank of Hardin County: Elizabethtown, KY. “Monster Money market account” yielding 2.17% APY with a minimum balance of $10,000. South Central Bank has 5 locations throughout the county with branches in Bowling Green, Elizabethtown, Glasgow, Owensboro, and Tomkinsville. They were first chartered in 1889 and know manage roughly $800 million in assets. Their product offerings include a wide range of savings products (CD’s, money market accounts, health savings account, and more). They also offer a number of loan products as well as many online banking options. Contact: (270) 763-6898
- Citizens Bank and Trust Company: Campbellsville, KY. Money market account yielding 1.76% APY with a minimum deposit of $10,000. This interest rates associated with this account are set up in tiers based on your minimum balance. If your account dips below the $10k mark, you will yield a lower interest rate and if your account dips below $2,500 you will incur a $10 fine. You are limited by Federal Law to 6 pre-authorized transactions per month (check, wire, or ACH transfers) and only 3 may be payable to a third party. Additional withdrawals are $10.00 and excessive withdrawals may require that the account be closed. Contact: (270) 465-8193
Both of the above institutions are federally insured by the FDIC. If you live in Kentucky and know of a better money market rate offered through your local institution, please share by leaving a comment.