There is no shortage of banks in Alabama. So, how do you know which one is right for you? It all depends on your unique needs and preferences. Maybe you’re in the market for a small, local bank with personalized service. Or perhaps you prefer an online bank or a large, national bank you can easily access when you travel.
No matter what your unique needs are, our roundup of the best banks in Alabama is sure to steer you in the right direction.

12 Best Banks in Alabama
1. Navy Federal Credit Union
Since there are five military bases and many current and former military members in Alabama, we had to add Navy Federal Credit Union to our list. Even though it’s technically a credit union, rather than a traditional bank, it offers a variety of perks for military members and their families. As long as you join, you can enjoy fee-free checking and savings accounts with higher than average interest rates that vary based on account type and balance.
Plus you’ll get access to $30,000 free ATMs across Alabama and the U.S. as well as international branches in places like Cuba, Korea, Italy, and Japan. Other benefits of Navy Federal Credit Union include loan options, like mortgage banking services and vehicle loans as well as a convenient mobile app for banking on the go. Navy Federal is one of the top credit unions in the state.
2. First Community Bank of Central Alabama
Based in Wetumpka, Alabama, First Community Bank of Central Alabama is a solid local choice known for delivering exceptional customer service. Since its inception in 2001, the bank has been all about community. It strives to meet the financial needs of the Central Alabama community it serves.
First Community Bank of Central Alabama’s lineup of products includes a free checking account, an interest checking account, several savings accounts, mortgage loans, wealth management accounts, and business accounts for small businesses. Most accounts require a minimum opening deposit of $100 and monthly fees can be easy to wave as long as you maintain a minimum balance of $2,500. The bank also offers free cashier’s checks.
3. CIT Bank
CIT Bank, a division of First Citizens Bank, is another good choice if you’re looking for an online bank in Alabama. It provides numerous banking services, like high-yield savings accounts, money market accounts, no-penalty CDs, and custodial accounts with no monthly maintenance fee.
Additionally, CIT Bank is a great place for mortgages and small business banking. The bank also offers attractive interest rates and no monthly fees. Keep in mind, however, that there are no brick-and-mortar branches in Alabama so you’ll have to do all your banking online or via the mobile banking app.
Rest assured, customer service is available 24/7 through the live chat feature. You can also speak to a customer service representative Monday through Friday, 9 a.m. to 9 p.m. ET, or Saturday from 10 a.m. to 6 p.m. ET.
4. Ally Bank
For a digital bank that serves Alabama residents with checking accounts, savings accounts, CDs, money market accounts, auto loans, and other financial services, Ally Bank is a solid pick. While there are no physical branches in the state, you can lock in competitive interest rates if you feel comfortable with online banking.
Since Ally Bank has minimal overhead costs, it doesn’t charge monthly maintenance fees or overdraft fees. Plus you there are no minimum balance requirements so you can open an account with any dollar amount. You may also download Ally Bank’s highly rated mobile app so you can manage recurring transfers, enroll in online bill pay, deposit checks, and send money with Zelle.
5. PNC Bank
PNC Bank is a national bank that’s a particularly good choice if you’re a student at a college, university, or trade school in Alabama. In addition to traditional products like checking accounts and savings accounts with low monthly maintenance fees, it offers a variety of education loans that can make your education more affordable.
There’s also a Virtual Student Wallet, which you may use to manage all your accounts in one place. In addition, PNC will give you a grace period before you have to pay overdraft fees. Note that there is one PNC branch in Selma, Alabama but online and mobile banking is available. You may also access more than 60,000 fee-free ATMs throughout the U.S.
6. Regions Bank
Regions Bank is a regional bank with more than 25 branches and drive-up ATMs without ATM fees in Alabama. Its greatest perk is its varying rewards programs that come with checking and savings accounts. The bank also offers CDs with flexible terms ranging from 7 to 72 days and minimum deposits of $500. We can’t forget InvestPath, a digital investing platform that provides access to Regional’s skilled team of financial advisors.
In addition, you can take advantage of Regions My GreenInsights, which is a tool to help you set up a budget, monitor your account balances, track spending, and create savings or loan payoff goals. You can also choose from a wide range of credit cards with perks like cash back, travel points, gift cards, and merchandise.
7. Valley National Bank
Valley National Bank serves customers in numerous states, including New York, New Jersey, Florida and Alabama. There are branches in 10 Alabama cities. In addition to its wide range of products, like a basic checking account and savings account, the bank doesn’t have any minimum balance requirements or charge any fees.
If you enroll in direct deposits, you can enjoy cash rewards. While the money market account has a competitive interest rate, it does require a high minimum opening balance of $2,000. Depending on your situation, you might be better off with a longer-term CD that lets you maximize your interest earnings.
8. Wells Fargo
If you’re looking for an Alabama bank with a national presence, Wells Fargo should be on your radar. It has more than 4,700 branches and over 13,000 ATMs across Alabama and the rest of the U.S. This commercial bank offers just about every financial service you can think of, such as checking accounts, savings accounts, certificates of deposit (CDs), credit cards, personal loans, and wealth management services. Business checking accounts and business loans are available as well.
While some accounts do come with monthly maintenance fees, they’re easy to waive. All you have to do is meet certain minimum balance requirements. Wells Fargo bank also offers other perks, like bonuses for opening certain accounts, credit score monitoring, and mobile banking apps with easy transfers, mobile deposit, account alerts, and more.
9. Peoples Bank of Alabama
Peoples Bank of Alabama is worth exploring if you’re an individual or small business owner in search of a local community bank in Alabama. Headquartered in Cullman, its product lineup includes checking accounts, money market accounts, certificates of deposit, loans, lines of credit, and more.
The myEasyAdvisor program is an automated program that offers personalized financial advice to help you improve your finances. You can find local branches and ATMs in four different regions in Alabama, including the Central region, Coosa Valley region, Metro Central region, and the Tennessee Valley region.
10. Redstone Federal Credit Union
Redstone Federal Credit Union caters to Alabama residents who qualify for membership through government employment, military service, or by being a part of one of over 1,500 partner organizations and businesses.
By offering a wide range of services, including checking, savings and money market accounts, CDs, mortgages, personal loans, and credit cards, Redstone aims to meet all of its members’ financial needs under one roof. The Brighter Day savings account offers an attractive 3.03% annual percentage yield (APY) on balances up to $2,500, and 0.45% APY on balances over $2,500.
Additionally, Redstone’s Visa Signature credit card provides generous cash back rewards, with up to 5% on restaurant and gas purchases, 3% on groceries, discount stores, wholesale clubs, utilities, phone and streaming services, and 1.5% on all other purchases.
11. Liberty Bank
Liberty Bank is another local option that’s headquartered in Geraldine and has branch locations in Collinsville, Crossville, Sardis City, Altoona, and Albertville. Its personal banking services include checking accounts, savings accounts, debit cards, traditional credit cards, secured credit cards, CDs, IRAs, and other deposit accounts.
The bank also offers business banking and bank properties for sale. One of its most noteworthy perks is Overdraft Privilege, which allows you to overdraft your account up to a certain amount so you can cover a transaction.
12. Bryant Bank
Bryant Bank is a small community bank with 15 branches throughout the Cotton state. It’s known for its personalized service and long list of services, such as personal, business, and mortgage products.
In recent years, the bank became more tech savvy and began to offer online banking. One of Bryant Bank’s most popular products is the Basic Savings Account, which you can open with a small minimum deposit of only $100. You can also make six monthly withdrawals for free.
How to Choose the Best Bank In Alabama
As you browse this list, you’ll find that not all Alabama banks are created equal. To hone in on the ideal option for your unique option, consider the following:
- Types of accounts: The types of accounts you should look for depend on your unique goals. If you’d like a place to park your cash for emergencies, for example, a high-yield savings account is likely your best bet. If you have a savings goal you’d like to meet within the next few years, you might want to look for CDs.
- Fees: In a perfect world, banking fees wouldn’t exist. The reality, however, is that most banks charge fees. The good news is some banks, like online banks, are known for low fees due to their lower overhead costs. You may also be able to waive certain bank fees if you keep a certain amount of money in your account.
- Physical branches vs. online banking: If you prefer in-person banking, it’s a good idea to prioritize banks with brick-and-mortar locations. On the other hand, if you like to perform your banking online, focus on banks with robust online banking programs. Ideally, you’d find a bank that gives you the option to bank online or in-person.
- Unique perks: Some banks go above and beyond for customers and provide a variety of benefits you might not expect. These include free financial advice, budgeting tools, and credit score monitoring.
- Reputation: Before you take the plunge and open an account at a new Alabama bank, make sure it’s reputable. To do so, check out customer reviews and ratings on sites like the Better Business Bureau (BBB).
- Customer Service: Chances are you’ll have a question or concern about your bank account(s) at some point in time. For this reason, opt for a bank that offers exceptional customer service via chat, phone, email, and in-person guidance.
- FDIC Insurance: Be sure to opt for an Alabama bank that is insured by the Federal Deposit Insurance Corporation or FDIC. This will protect you and your hard earned money in the event it fails.
Bottom Line
With our list of the best banks in Alabama, you’re sure to discover the right option for your needs and preferences. Remember, you don’t have to stick to a bank and can always try several until you figure out which financial institution truly checks off all your boxes. Best of luck in your search for the best bank in Alabama.
Frequently Asked Questions
What is the best bank in Alabama?
There is no hard and fast answer to this question. The best bank in Alabama is based on your unique situation. However, some of our top picks include financial institutions Wells Fargo, Ally Bank, CIT Bank, BBVA, and Peoples Bank of Alabama.
How many banks are there in Alabama?
Currently, there are more than 100 banks in Alabama. These are local banks, regional banks, and national banks. Each bank comes with its own benefits and drawbacks that are important to consider.
What’s the most popular bank in Alabama?
Regions Banks has more than 220 branches in Alabama. Therefore, it has the most widespread presence in the Cotton state.
How many bank accounts should I open in Alabama?
The right amount of bank accounts depends on your particular financial goals. Be mindful of how many you open and make sure you can manage all of them. Otherwise, you might steer yourself into financial trouble.
What are some good online banking options in Alabama?
If you’re a fan of online banking, we recommend Ally Bank and CIT Bank. Both options come with a wide range of products and low fees.