Thanks to thriving metropolises like Louisville and Lexington, Kentucky continues to grow, but the city is made up of charming small towns, too. The best banks in Kentucky offer a variety of amenities, while also putting the community first.
From college towns like Bowling Green to Bourbon Trail towns like Bardstown, you’ll find plenty of banks, making it easy to find the bank that’s right for you.
12 Best Banks in Kentucky
Kentucky has a wide range of banks, from large, corporate banks to small community banks. This list of the best banks in Kentucky takes a look at the various types to help you find the best option for your banking needs.
1. Fifth Third Bank
Headquartered in nearby Cincinnati, Fifth Third Bank has branches in Kentucky, Ohio, Florida, Georgia, Illinois, Indiana, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.
The best deal comes with the Fifth Third Bank Momentum Checking account, which is a free checking account with no minimum balance requirements or opening deposit. You’ll get fee-free cash access at Fifth Third Bank ATMs, as well as at more than 40,000 partner ATMs nationwide.
Fees:
- No monthly service fee
- $37 overdraft fee
Balance requirements:
- No opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at more than 40,000 Fifth Third Bank and partner ATMs nationwide
- $3 charge per transaction at out-of-network ATMs
Interest on balance:
- 0.01% APY on savings
- 0.01% APY on money market accounts
- Up to 4.55% APY on CDs
Additional perks:
- Early Pay gives you access to paycheck up to two days early
- MyAdvance offers free cash advance for a fee
2. Chime
If you don’t need a local Kentucky bank branch, an online banking option like Chime may be the best deal. You’ll get all the mobile banking features you’d find with a national bank without the fees. The checking account comes with no monthly maintenance fees or balance requirements.
As long as you have at least $200 directly deposited into your account each month, you’ll qualify for up to $200 in overdraft protection. The automatic savings feature rounds up debit card purchases and puts the money into your savings account, which earns 2.00% APY.
Fees:
- No monthly service fee
- No overdraft fee (with qualifying direct deposit)
Balance requirements:
- No minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at more than 60,000 ATMs nationwide
- $2.50 for each out-of-network ATM transaction
Interest on balance:
- 2.00% APY on savings accounts
Additional perks:
- SpotMe covers up to $200 in overdrafts
- Each purchase on your Visa debit card can be rounded up for automatic savings
3. First State Bank
First State Bank is a Kentucky bank with branches throughout Breckinridge County. If you prefer a community bank, First State is one of the best banks in Kentucky, whether you’re looking for personal or business checking accounts. But where this local bank falls short is in its ATM presence.
Branches and ATMs don’t cross the Kentucky line, although you’ll find ATMs throughout the state. They do make up for it, though, by having a low out-of-network usage fee. You’ll pay only $.75 per transaction on the First State side. Keep in mind, though, that this is in addition to any fees charged by third-party ATM owners, which First State doesn’t refund.
Fees:
- No monthly service fee
- $20 overdraft fee
Balance requirements:
- $25 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at First State Bank ATMs (limited to Breckinridge County)
- $0.75 charge per transaction at out-of-network ATMs
Interest on balance:
- Rates aren’t disclosed
Additional perks:
- Business checking accounts with personalized support
- Heavy branch presence for Breckinridge County-area residents
4. Chase
If you like the amenities of a national bank, Chase has multiple locations throughout Kentucky. You’ll get fee-free access to more than 16,000 Chase ATMs nationwide, as well as solid mobile banking options. Chase is currently offering a $200 bonus for new Total Checking accounts as long as you maintain a $1,500 balance or have at least $500 in direct deposits each month. If you’re looking for wealth management services, Chase offers that through its parent company, JPMorgan.
Fees:
- $12 monthly service fee (waived with qualifications)
- $34 overdraft fee
Balance requirements:
- No minimum opening deposit
- $1,500 minimum balance required to waive service charge (or $500 in direct deposits)
ATMs:
- Fee-free at more than 16,000 Chase ATMs nationwide
- $3 charge per transaction at out-of-network ATMs
Interest on balance:
- 0.01% APY on savings accounts
- Up to 4.00% APY on CDs
Additional perks:
- Account options for children and college students
- Overdraft Assist lets you remedy overdrafts before fees kick in
5. GO2bank
Another online banking option is GO2bank, which offers a free checking account and a variety of mobile banking services. But the best feature of GO2bank is its 4.50% APY savings account, which is above what many competitors offer. You can also withdraw cash at more than 55,000 AllPoint locations and deposit cash at nearly 90,000 retail locations nationwide.
Fees:
- No monthly service fee
- $15 overdraft fee
Balance requirements:
- No minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at more than 55,000 AllPoint ATMs nationwide
- $3 for each out-of-network ATM transaction
Interest on balance:
- 4.50% APY on savings accounts
Additional perks:
- Deposit cash at nearly 90,000 retail partners nationwide
- Up to $200 in overdraft coverage
6. Republic Bank & Trust Company
Headquartered in Louisville, Republic Bank & Trust Company is a local account with a variety of checking accounts. Republic Bank has an entry-level account, Simple Access, that has no overdraft fees, but you will have to either have one monthly direct deposit, one debit card transaction, or one online bill pay transaction monthly. Republic Bank has higher-than-average interest rates on CDs and savings accounts, as well as competitive rates on personal loans.
Fees:
- $4.95 monthly service fee (minimum activity required)
- No overdraft fee
Balance requirements:
- $10 minimum opening deposit
- No minimum balance
ATMs:
- Fee-free at more than 90,000 locations nationwide
Interest on balance:
- 0.35% APY on savings accounts
- Up to 4.15% APY on CDs
Additional perks:
- Specialized loans like aircraft financing
- Award-winning customer service
7. Whitaker Bank
Another local bank with plenty of physical branches is Whitaker Bank, a community bank with 34 locations across Kentucky. Whitaker has multiple checking accounts, but the least expensive is Whitaker FREE Checking, which has no fees or minimum balance requirements.
Like many local banks in Kentucky, though, the availability of ATMs could be a problem if you travel. Whitaker charges no fees for its own ATMs or out-of-network ATMs, but you will have to pay third-party fees.
Fees:
- No monthly service fee
- $34 overdraft fee
Balance requirements:
- $100 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at Whitaker Bank locations across Kentucky
- No fees for out-of-network ATM transactions
Interest on balance:
- .01% APY on savings accounts
- Up to .05% APY on money markets
- Up to .50% APY on CDs
Additional perks:
- Multiple ways to bank, including by text
- Free fraud alerts
8. American Bank & Trust
Southern Kentucky is a bustling area of Kentucky, thanks to Western Kentucky University. If you live in the Bowling Green area, American Bank & Trust is one of the best banks in the area.
American Bank & Trust offers a free checking account with no minimum balance required and overdraft fees of only $5 per occurrence. In addition to fee-free access to American Bank & Trust ATMs, the bank also refunds up to $16 in third-party ATM fees.
Fees:
- No monthly service fee
- $5 overdraft fee
Balance requirements:
- $50 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at AMBank ATMs, as well as hundreds of ATMs nationwide
- Up to $16 in third-party ATM fees refunded monthly
Interest on balance:
- .50% APY on savings accounts
- Up to 2.75% APY on money markets
- Up to 4.50% APY on CDs
Additional perks:
- Competitive rates on personal loans
- Bank My Change feature helps you set money aside
9. South Central Bank
With branches across Kentucky, South Central Bank is one of the best banks in Kentucky for friendly service and a variety of banking services. South Central offers multiple checking accounts, including several with no monthly maintenance fee.
With some checking account options, you’ll need to sign up for e-statements and have at least 15 monthly debit card transactions for the $6 fee to be waived. South Central also offers wealth management services, including investing and retirement planning.
Fees:
- No monthly service fee
- $30 overdraft fee
Balance requirements:
- $100 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at South Central Bank ATMs in Kentucky and Tennessee
Interest on balance:
- Up to 4.50% APY on CDs
Additional perks:
- $25 for each new account holder you refer
- Small business checking and savings account options
10. Independence Bank
Headquartered in Owensboro, Independence Bank makes the list of best banks in Kentucky due to its competitive rates on CDs and variety of free checking accounts. There are perk-packed checking account options for active-duty military and veterans, as well as branches across the state.
You can also interact with live tellers through select ATMs, which Independence Bank labels “ITMs,” or interactive teller machines.
Fees:
- No monthly service fee
- $34 overdraft fee
Balance requirements:
- $50 minimum opening deposit (waived with direct deposit)
- No minimum daily balance required
ATMs:
- Fee-free at more than 55,000 AllPoint locations nationwide
Interest on balance:
- Up to .01% APY on savings accounts
- Up to 4.80% APY on CDs
Additional perks:
- Interactive ATMs offer enhanced services, including live personal assistance
- Active-duty military and veteran account options
11. Community Trust Bank
Although Community Trust Bank is spread throughout Kentucky, it’s actually one of the many regional banks, with branches and ATMs in Kentucky, Tennessee, and West Virginia. You’ll find multiple checking accounts, including an option with no monthly maintenance fee. If you travel outside the CTB service area, though, you’ll be on the hook for ATM fees.
Fees:
- No monthly service fee
Balance requirements:
- $100 minimum opening deposit
ATMs:
- Fee-free at Community Trust Bank ATMs in Kentucky, Tennessee, and West Virginia
- $2.50 per transaction at out-of-network ATMs
Interest on balance:
- Interest rates not disclosed
Additional perks:
- Prepaid cards available
- Competitive rates on personal loans
12. Hometown Bank
Corbin, Kentucky residents looking for a small Kentucky bank should consider Hometown Bank, a community bank with locations in Corbin, London, Barbourville, and Williamsburg. Hometown has multiple checking and savings account options, including a free option with no monthly maintenance fees or balance requirements.
Fee-free ATM use is limited to the few ATMs within its service area, though, so if you frequently travel, this might not be the best Kentucky bank for you.
Fees:
- No monthly service fee
- $34.50 overdraft fee
Balance requirements:
- $50 minimum opening deposit
- No minimum daily balance
ATMs:
- Fee-free at Hometown Bank ATMs
Interest on balance:
- Interest rates not disclosed
Additional perks:
- Round Up Savings moves funds from debit card purchases to savings account
- Children’s accounts available
With so many banks in Kentucky, there’s a little something for everyone. Whether you prefer national or regional banks or you like the feel of a small community bank, it’s important to find one that has the features that work best for you.
How to Choose the Best Bank in Kentucky
If you’re in the market for a new bank account, it’s essential to first identify the features that are most important to you. Here are a few things to consider as you choose your banking provider.
Online Banking Offerings
Even if you prefer a bank you can visit in person, online banking is worth considering. Chances are, you’ll occasionally want to check your balance online.
The best checking accounts offer mobile baking features like remote deposit capture and funds transfers. Mobile apps have become essential for most financial institutions, so make sure you check out a preview of a bank’s app before signing up.
Checking Account Fees and Requirements
Even small fees can add up over the course of a month. If you can find a fee-free checking account, it could save money.
Some of the best banks in Kentucky offer free bill pay and no monthly fees. If you need paper checks, make sure you add that to your criteria for the best checking account, as well.
Locations
Both local and national banks often excel in providing brick-and-mortar banks that offer that in-person customer service you prefer. But it’s important to make sure the locations are convenient for you.
If you prioritize local branches, make sure you check ATM availability. It’s great to have free ATM withdrawals near your house. However, when you’re traveling, if you need cash and can’t access it, you may end up paying more in fees than if you’d had a checking account with no fees.
