14 Best Banks in Kentucky for 2024

U.S. Bank is currently welcoming new applicants with a special online offering:

• Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account, and complete qualifying activities.
• Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
• Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

The account includes a free debit card that can be locked or unlocked if ever misplaced or stolen. There are no ATM transaction fees at U.S. Bank ATMs and no surcharge fees at over 40,000 MoneyPass® Network ATMs.

The checking account requires a $25 opening deposit and a $6.95 monthly fee. This fee can be waived for those 24 and under, 65 and over, or military members (must self-disclose).

Additionally, the fee can be waived with monthly deposits of $1,000+, an average balance of $1,500+, or holding an eligible U.S. Bank credit card. Qualifying for any Smart Rewards® tier (Primary, Plus, Premium, or Pinnacle) also waives the fee.

SoFi customers enjoy several benefits, including no minimum balance requirements, no monthly fees, and no overdraft fees, making SoFi an affordable option for many users. Plus, there is an opportunity to earn a bonus up to $300 through eligible direct deposits.

The high-yield savings account offers a generous 4.60% APY, while the checking account has a 0.50% APY. These rates that are significantly higher than those of many conventional banks. Moreover, SoFi guarantees safety for your deposits, insuring them up to $2 million through the FDIC.

Customers have the advantage of a vast network of over 55,000 Allpoint® ATMs globally, facilitating trouble-free cash withdrawals whenever necessary. Additionally, setting up a direct deposit means you could receive your paycheck up to two days early.

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.

With this account, you get access to more than 40,000 Fifth Third Bank and partner ATMs nationwide.

Besides checking, Fifth Third Bank also offers savings accounts, CDs, credit cards, mortgages, auto loans, and investment services.

As a fintech entity, Upgrade operates in partnership with Cross River Bank, which ensures that all accounts benefit from FDIC insurance coverage up to $250,000.

The Upgrade Rewards Checking Plus account stands out by removing typical banking hurdles such as minimum deposit requirements, and fees for monthly maintenance, ATMs, and transfers.

Customers enjoy features like early direct deposit, which allows them to access their paychecks up to two days sooner. The account also rewards daily spending with up to 2% cash back on debit card purchases.

For those who occasionally use out-of-network ATMs, Upgrade offers a solution by reimbursing up to five ATM fees each month, contingent upon meeting specific conditions.

Currently, Chase is attracting new customers with a notable promotion: a $200 bonus for those who open a new Total Checking account. To qualify for this bonus, individuals need to maintain a balance of $1,500 or receive total direct deposits of at least $500 each month.

The Total Checking account comes with a monthly fee of $12. However, this can be waived by maintaining the aforementioned balance or meeting the direct deposit requirement. New customers will appreciate that there is no minimum amount required to open the account.

In terms of interest rates, Chase offers a 4.00% APY on CDs, presenting an attractive option for those looking to grow their savings over time.

Among their various bank account options, the Whitaker FREE Checking is especially popular. This account is straightforward, with no hidden fees and no stress about maintaining a certain balance. However, there is a required minimum initial deposit of $100.

Plus, all five checking accounts come with online banking, mobile banking, unlimited check writing, free bill pay, free eStatements, and unlimited debit card transactions. Beyond checking, Whitaker Bank offers a range of solutions tailored to the needs of the local community.

As one of the top-rated banks in Kentucky, First State Bank is committed to understanding the unique needs of the customers it serves. Their diverse range of savings and checking accounts are tailored to suit various objectives.

Opening a checking account is straightforward with a modest $25 minimum initial deposit, no minimum balance requirements, and no monthly maintenance fees.

Clients using this account benefit from the widespread accessibility to their funds through a massive network of 90,000 ATM locations across the nation.

A notable advantage of the Simple Access account is the ability to avoid the $4.95 monthly fee through various simple means. These include conducting at least one monthly direct deposit, using the debit card for a transaction, or completing an online bill pay transaction within a month.

Besides the friendly terms for checking accounts, Republic Bank stands out for its favorable interest rates on savings accounts and CDs, exceeding the average rates offered by many other banks.

This Kentucky bank features a user-friendly free checking account that is suitable for a wide demographic, including students and families, and ensures peace of mind with no minimum balance requirement.

Getting started with a checking account requires a $50 initial deposit, and clients enjoy the benefit of no minimum balance requirements.

Aside from checking accounts, they offer various products including savings plans and loan options, all crafted to cater to the customers’ needs. If you’re looking for a local Kentucky bank that understands the priorities of the Bowling Green community, American Bank & Trust stands out.

To avoid the $6 monthly fee with certain accounts, you’ll need to opt for e-statements and record at least 15 debit card transactions per month.

Besides checking accounts, South Central Bank provides a host of solutions such as savings accounts, personal loans, and wealth management services encompassing investment guidance and retirement planning.

Opening a checking account requires a $100 minimum opening deposit, and there’s no minimum balance requirement, offering ease of banking to all its account holders.

The bank caters to active-duty military personnel and veterans with specially designed checking accounts laden with benefits.

A unique feature of this Kentucky bank is the availability of “ITMs,” or interactive teller machines, allowing for real-time interaction with live tellers.

Moreover, the bank extends its services to meet various needs, including business checking accounts, equipment loans, lines of credit, and agricultural loans.

To open a free checking account, a minimum deposit of $50 is required, and you can enjoy banking without worrying about monthly fees.

Branch locations in Kentucky can be found in cities like Ashland, Campbellsville, Danville, Flemingsburg, Frankfort, Georgetown, Hazard, Lexington, Richmond, Winchester, and more.

The bank offers multiple checking accounts, including a free checking account. You can open a checking account with a $100 minimum deposit, and enjoy the advantage of having no monthly fees.

In addition to checking, Community Trust Bank provides a broad array of products such as savings accounts, money market accounts, CDs, IRAs, persona loans, and mortgages.

But what truly sets Hometown Bank apart is the variety and flexibility of its services. They offer a diverse range of checking and savings accounts tailored to fit different lifestyles.

Particularly popular is the Simply Free checking account, which comes with a free debit card, online banking, and a free “Thank You” gift. It requires just a $50 initial deposit, but has no monthly fees and no minimum balance requirements.

Unique to PNC Bank is the Virtual Wallet, a seamless integration of checking, savings, CDs, and money market accounts that makes banking easier.

The bank also provides an enticing welcome bonus ranging from $50 to $400, depending on the account combination selected.

Besides personal banking, PNC offers business accounts, credit cards, mortgages, auto, personal and student loans, as well as various investment options.