Best Banks in Indiana for 2023

Indiana is a hub of industry, attracting households and businesses with its vast farmlands and thriving big cities. So, it’s only natural that a variety of banks have emerged, from branches of large corporate banks to small, local banks.

The best banks in Indiana combine minimal checking account fees with competitive rates on savings and CDs. It’s also important to look for a bank that lets you manage your account online while also getting that in-person service when you need it.

Welcome to Indiana

18 Best Banks in Indiana

With so many banks in Indiana, it can be tough to narrow down the options. This list can help you get started.

1. U.S. Bank

U.S. Bank is a top choice for those seeking a blend of national reach and local presence in Indiana. With eight locations in the state, U.S. Bank offers convenient access to banking services, as well as a comprehensive suite of banking products.

One standout offering is the U.S. Bank Smartly Checking account, which is currently offering a $300 sign-up bonus to new customers. This account was designed to provide customers with a simple, low-cost banking experience.


  • U.S. Bank Smartly Checking account offers no monthly maintenance fees and easy mobile banking
  • Eight convenient branch locations in Indiana
  • Access to over 32,000 fee-free ATMs nationwide


  • Limited physical presence compared to some larger national banks
  • Higher-tier checking accounts may require minimum balances or direct deposits to avoid monthly fees

2. Chase Bank

If you prefer the power of a national bank, Chase is worth considering. In addition to online and mobile banking, Chase has branches and ATMs scattered across the state. You’ll find a wide variety of banking products, including savings accounts, personal and business banking, and wealth management services.


  • ATM access at more than 15,000 ATMs and 4,700 branches nationwide
  • Sign-up bonuses on new checking accounts
  • No monthly service fees with direct deposit


  • Only 0.01% APY on savings
  • $3-$5 fee for out-of-network ATM use

3. Fifth Third Bank

Fifth Third Bank is a regional bank with branches in 11 states, including Indiana. You can find fee-free checking accounts with Fifth Third, but savings rates are less competitive than some online and local banks.


  • No fees or minimum balance on Preferred Checking
  • Student and military accounts available
  • Fee-free ATM use at more than 40,000 locations


  • Lower rates on savings accounts
  • Branch locations tend to be near larger cities

4. Chime

Chime is an online bank that offers more conveniences than usual. Your checking account not only gives you fee-free cash access at more than 60,000 ATMs, but you can deposit cash at Walgreens and 75,000+ retail locations. You can manage the rest of your account online, and you’ll get no monthly fees or overdraft charges, as well as automatic savings features.


  • Deposit cash at more than 90,000 retail locations
  • No overdraft fees
  • Credit-builder credit card available with no credit check required


  • No in-person customer service available
  • Withdrawal limits can be low

5. GO2bank

Another online-only option with cash access is GO2bank, which allows fee-free ATM transactions at 43,000 AllPoint locations. You can also deposit cash at any CVS Pharmacy, Rite Aid, Walgreens, or Walmart. Checking accounts come with no monthly fees as long as you have at least one payment deposited directly each month. Direct deposit accounts are also eligible for up to $200 in overdraft protection.


  • 4.50% APY on savings account
  • Fee-free cash access at 43,000 AllPoint ATMs nationwide
  • Deposit cash at CVS Pharmacy, Rite Aid, Walgreens, or Walmart locations


  • No in-person customer service available
  • Savings APY limited to first $5,000 of balance
  • Direct deposit required for fee-free checking

6. First Financial Bank

One of the best banks in Indiana is First Financial Bank, an Ohio-based bank with branches throughout Indiana, as well as in Illinois and Kentucky. You’ll get all the amenities of a national bank with the exceptional customer service that comes with banking locally. Some checking account options offer discounts on loans, and you’ll get rates of up to 4.50% on CDs.


  • Local branches throughout Indiana
  • Fee-free ATM access at 55,000+ AllPoint locations
  • Interactive tellers provide personal service


  • $25 overdraft fee
  • $10 monthly maintenance fees on checking (waived with $500 balance or debit card activity)

7. First Merchants Bank

First Merchants Bank is a local bank that primarily serves Central Indiana. But you’ll find branches as far north as Fort Wayne. First Merchants Bank has been voted one of the best banks in Indiana for its attention to customer service, community focus, and mobile banking features.

First Merchants Bank has a low barrier on its fee-free checking account, letting you qualify with only a $100 balance or at least one customer-initiated transaction each statement period.


  • Free checking with $100 balance or one qualifying transaction monthly
  • Fee-free national access at 37,000 MoneyPass ATMs
  • Up to 4.75% APY on 12-month CDs


  • Branches limited to Northern and Central Indiana
  • $37 overdraft fee per transaction

8. Huntington Bank

Although it’s a regional bank, Huntington Bank is headquartered in Columbus, Ohio, so Indiana was an easy fit for its expanded service area. One of Huntington’s premiere features applies to its overdrafts.

Deposit accounts qualify for 24-Hour Grace, which allows you extra time to take action if your account goes into the negative. But if you travel, be aware that Huntington’s ATM access is limited to its service area. You’ll pay $3.50 plus third-party fees for every out-of-network ATM transaction.


  • 24-Hour Grace allows extra time to resolve overdrafts
  • Fee-free ATM access at 1,434 Huntington locations
  • In-person service at branches throughout the service area


  • $3.50 fee for out-of-network ATM transactions
  • Low savings account rates

9. CIT Bank

You won’t find local branches or ATMs, but CIT Bank is a great option for building savings. CIT’s Platinum Savings account offers up to 4.75% APY, and they have a no-penalty CD with rates as high as 4.80%.

Their eChecking product is impressive, as well, with no monthly maintenance fees and up to 0.25% APY on your balance. You can withdraw cash at any ATM and CIT will refund up to $30 in fees every month.


  • Interest rates of up to 4.75% on savings
  • Great rates on no-penalty CDs
  • Up to $30 a month in ATM fee refunds


  • No branches
  • No in-network ATMs

10. Centier Bank

Centier Bank is another local option considered one of the best banks in Indiana. Although it’s local, it’s certainly not small. In fact, it’s the largest family-owned bank in the state.

You’ll find branches from Fort Wayne to Indianapolis, as well as ATMs nationwide through the AllPoint and Publix Presto! networks. Savings rates pay as high as 5% APY when you connect your checking to your savings account.


  • Up to 5% APY on savings account
  • Low monthly fees on checking accounts
  • Fee-free access to Centier, AllPoint, and Presto! ATMs


  • $100 savings balance required to earn APY
  • $50 minimum opening balance

11. BMO Harris Bank

Indiana residents have access to BMO Harris Bank, a regional bank that also services Illinois, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin. You’ll find branches and ATMs across the state, with a heavy concentration in Indianapolis and Gary.

The savings account only offers 1.00% APY, but BMO’s CD rates are competitive, paying up to 4.50% APY. Currently, new BMO Harris customers can earn a $200 cash bonus on basic checking accounts and a $350 bonus on high-balance checking.


  • Fee-free checking accounts
  • Fee-free access to more than 43,000 AllPoint ATMs
  • $200-$350 cash bonus for new customers


  • Only 1.00% APY on savings account
  • $25 minimum opening deposit

12. 1st Source Bank

1st Source Bank is set up to serve banking customers in Northern Indiana and Southwestern Michigan, but it has a small presence in Florida as well. If you regularly travel and need cash, 1st Source Bank might not be the best option, as ATMs are limited to its service area. 1st Source will refund up to four ATM fees on their end each year, but you’ll still pay third-party ATM fees.


  • Student checking option available
  • Offers Health Savings Accounts
  • Variety of loan options


  • Branches are limited to Northern Indiana
  • Rates on CDs aren’t competitive
  • ATMs limited to Northern Indiana and Southwestern Michigan

13. Ally Bank

Another online and mobile banking option is Ally, which has an interest-bearing checking account that currently pays 0.25% APY and has no fees. You can withdraw cash at more than 43,000 AllPoint ATMs nationwide, and if you can’t find an AllPoint ATM nearby, Ally will reimburse up to $10 per statement cycle for out-of-network ATMs.

However, the best thing about Ally is its rates on savings accounts and CDs. Currently, Ally is offering up to 4.80% on CDs and up to 3.75% on your savings account.


  • Great rates on CDs and savings
  • Fee-free access to more than 43,000 AllPoint ATMs
  • No fees or minimum balance requirements


  • No physical branches
  • No cash deposit option

14. Old National Bank

With branches across Indiana, as well as in Michigan, Wisconsin, Minnesota, Kentucky and Illinois, Old National Bank is a great brick-and-mortar option. Although it’s a regional bank, Old National Bank has plenty of amenities found with national banks, including a full-featured mobile app and cash deposits at select ATMs.


  • Some Old National ATMs accept cash deposits
  • Fee-free cash withdrawals at Old National and AllPoint ATMs nationwide
  • Student checking accounts available


  • Savings account rates lower than some competitors
  • Direct deposits or minimum balance required for free checking accounts

15. First Bank

For Indiana’s small business owners, First Bank is a great local Indiana bank. First Bank serves Indiana and Illinois businesses with online and mobile banking options to help you manage everything.

You’ll find a variety of financial products for small business customers, including business loans, equipment financing, and cash management tools. One downside, though, is that it’s a completely online branch, but you’ll get fee-free cash access at more than 40,000 MoneyPass ATMs nationwide.


  • No-fee checking options available
  • Great rates on business and equipment loans
  • Fee-free ATM use at 40,000+ MoneyPass locations


  • No local branches
  • Only serves Evansville, Haubstadt, Mount Vernon, Poseyville, Princeton, and Vincennes businesses

16. Regions Bank

One of many regional banks with a heavy Indiana bank presence is Regions Bank. You’ll find branches throughout Indiana, as well as in Alabama, Arkansas, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.

Regions Bank’s checking account lacks the amenities of some online-only and national banks, with a $1,500 balance required to eliminate the monthly maintenance fees.


  • Earn rewards on savings and checking through Regions Cashback Rewards
  • User-friendly mobile banking experience
  • 24/7 customer support


  • $1,500 balance to qualify for free checking
  • Branches limited to service area
  • $3 transaction fee for non-Regions ATM

17. Community First Bank of Indiana

If wealth management services are your top priority, consider Community First Bank of Indiana, which offers financial assistance through a dedicated investment services team.

In addition to wealth management services, Community First Bank offers the personalized customer service that’s typical of a local bank. But if you regularly travel outside the area, note that Community First has no nationwide ATM network.


  • Community focus with great customer service
  • Fee-free checking accounts
  • Dedicated investment support team available


  • Only seven branch locations
  • Fee-free ATMs limited to seven branch locations

18. Bank of America

There are benefits to a national bank like Bank of America. Like most national banks, you’ll find branches and ATMs throughout Indiana, but with Bank of America, this is found in towns throughout the country. Bank of America also offers better-than-average rates on home equity loans and auto loans.


  • Automatic savings options
  • Earn rewards with debit card
  • Large ATM and branch presence nationwide


  • Minimum balance or direct deposit required for free checking account
  • Low interest rates on savings

Life can be busy. Managing your financial life can be much easier if you find a bank that fits your needs. Whether it’s a fee-free checking account or help to build your retirement accounts, the right bank can make all the difference.

Finding the Best Banks in Indiana

Whether you’re in the market for a personal checking account or business banking options, there are plenty of FDIC-insured banks in the state. To help you narrow down your options, here are some questions to ask yourself.

How often do you visit your bank right now?

As you’re browsing a list of banks in Indiana, you probably know right away which ones have branches near you. Are you the type of person who visits your local branch frequently? Even the best checking accounts won’t benefit you if you prefer that in-person experience and your new bank doesn’t offer it.

How well do you handle online communication?

Some online, national, and regional banks offer customer service via text chat, video chat, or telephone. If this is sufficient, you’ll likely find your options up open considerably. You may choose an online bank for your checking account while you go with a bank that has a local branch for personal loans.

How often do you need cash?

Some of the smaller banks in Indiana fall short when it comes to ATM access. Having a no-fee checking account but paying $30 monthly in out-of-network ATM fees isn’t ideal. You may be better off going with a bank that charges fees, but gives you fee-free access to cash when you need it.

Stephanie Faris
Meet the author

Stephanie Faris is a professional finance writer with more than a decade of experience. Her work has been featured on a variety of top finance sites, including Money Under 30, GoBankingRates, Retirable, Sapling, and Benzinga.