18 Best Banks in Indiana for 2024

Banking

Indiana is a hub of industry, attracting households and businesses with its vast farmlands and thriving big cities. So, it’s only natural that various banks have emerged, from branches of large national 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, including several in Richmond, Cambridge City, Connersville, Hagerstown, and Dillsboro, U.S. Bank offers convenient access to banking services, as well as a comprehensive suite of banking products.

U.S. Bank is currently welcoming new applicants in 26 U.S. states with a special online offering:

  • Earn up to $800 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 March 12, 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.

2. Chase Bank

If you’re leaning towards a national bank, Chase is a solid option to consider in Indiana. The bank has a big presence in the state, with many branches and ATMs; in fact, they have over 4,700 branches and 16,000 ATMs all over the country.

Branch locations in Indiana include: Bloomington, Carmel, Elkhart, Fishers, Fort Wayne, Gary, Indianapolis, Mishawaka, South Bend, Valparaiso, West Lafayette, and many more.

New customers who open a checking account with Chase can enjoy special sign-up bonuses, a nice little perk to welcome you to the bank. Plus, if you use direct deposit for your paycheck, you won’t be charged any monthly service fees, helping you save some extra bucks every month.

Apart from the basics, Chase offers a broad range of services including various types of savings accounts, business banking solutions, and guidance on wealth management. It’s a one-stop-shop for many of your financial needs, making banking simple and straightforward in Indiana.

3. Axos Bank

Axos Bank stands out as an online bank that offers competitive interest rates on its free-of-monthly-fees checking and savings accounts.

One of the perks of switching to Axos is the chance to earn up to $300 in bonus cash when you opt for the Rewards Checking, and to earn a high APY of up to 3.30% when you fulfill certain requirements.

You can access your account through the Axos online portal or via its intuitive mobile app. The app not only supports mobile check deposits and fund transfers but also allows for convenient mobile bill pay, putting a range of banking services right at your fingertips.

Additionally, Axos Bank will reimburse you for ATM fees when using your free debit card. Beyond these personal banking offerings, Axos specializes in a variety of loan services. These include new mortgages, mortgage refinancing, and home equity loans, as well as car and personal loans.

4. GO2bank

GO2bank, a subsidiary of Green Dot, provides the best of modern digital banking. Opening a checking account is effortless, and the savings account offers an impressive 4.50% APY, although it’s capped at $5,000.

Managing finances with GO2bank is convenient, thanks to a network of 90,000 retail locations for cash deposits, including CVS Pharmacy, Rite Aid, Walgreens, Walmart, and more.

You also get access to 55,000 fee-free ATMs. Additional perks include free bank transfers and the opportunity to receive your salary or government benefits ahead of schedule.

If you’re concerned about monthly fees, a single direct deposit each month will waive the $5 charge. Moreover, GO2bank offers optional overdraft protection up to $200 for those unforeseen financial emergencies.

For individuals focused on improving their credit, the GO2bank Secured Visa Credit Card acts as a gateway to better credit scores.

5. Fifth Third Bank

Fifth Third Bank is a prominent regional bank with a footprint spanning 11 states, including Indiana. You’ll find their free checking account options quite appealing.

What sets Fifth Third Bank apart is its commendable customer service, which has received recognition numerous times.

The bank also offers a diverse portfolio of products, including checking and savings accounts, CDs, credit cards, foreign currency exchange, and more. However, savings rates at Fifth Third are not as high as what you could find at some online or local banks.

A few more benefits of choosing Fifth Third Bank include no monthly fees or a required minimum balance on their Preferred Checking accounts.

They also have special account options for students and military personnel. Additionally, you’ll have access to a vast network of over 40,000 ATMs, adding to the convenience of banking with Fifth Third.

6. First Financial Bank

First Financial Bank, originally from Ohio, has certainly made its mark as one of the top banks in Indiana, extending its presence to Illinois and Kentucky as well. It offers the full suite of services that big national banks offer, paired with the kind of great customer service you expect from a local bank.

Plus, it brings some notable benefits to the table, like the option to get discounts on loans through certain checking account choices, and impressive interest rates of up to 4.50% on certificate of deposits (CDs).

First Financial also offers a basic savings account, a savings account that earns interest, and a savings account for students.

First Financial Bank stands out not just for its products but also for its widespread accessibility in Indiana, having branches well-distributed across the state. Additionally, account holders have the advantage of accessing over 55,000 AllPoint ATMs, making cash withdrawals a breeze, regardless of where you are.

A unique feature of First Financial Bank is its interactive tellers who are on hand to provide personal service, adding a human touch to your banking experience and ensuring that you always have assistance when you need it.

7. First Merchants Bank

First Merchants Bank operates mainly in Central Indiana, extending its reach up to areas like Fort Wayne. Recognized as one of the finest banks in Indiana, it is praised for its exceptional customer service, a strong focus on the community, and a robust mobile banking app for convenience.

The bank attracts customers with its accessible no-fee checking account, which comes with easy-to-meet requirements: maintain a modest balance of just $100, or undertake at least one transaction initiated by the customer during each statement period.

Adding to the list of benefits are the over 40,000 MoneyPass ATMs that you can access, facilitating easy and widespread availability for cash transactions.

In addition, those interested in savings products can look forward to potentially high returns, with up to 4.75% annual percentage yield (APY) on 12-month CDs. It’s a feature that positions First Merchants Bank as a competitive choice for people keen on growing their savings efficiently.

8. Huntington Bank

Huntington Bank holds a significant position as a regional bank with branches in various states, including Indiana, Kentucky, and Ohio among others.

Branches in Indiana include Alexandria, Avon, Brownsburg, Carmel, Danville, Fishers, Franklin, Greenwood, Indianapolis, Lafayette, Lebanon, Noblesville, Plainfield, West Lafayette, Westfield, and Zionsville.

The Asterisk-Free Checking Account is a standout option, with the benefit of having no monthly maintenance fees. You also get access to over 1,600 ATMs owned by the bank.

In addition, Huntington Bank supports its customers with a strong online service platform, featuring an array of digital features to efficiently manage your finances from wherever you are.

One of the distinguishing features of Huntington is the 24-Hour Grace policy, which gives you additional time to take care of overdrafts, potentially saving you from fees.

Besides, the bank maintains a consistent presence in the region with branches that offer personalized service, ensuring that help is at hand whenever you wish to engage in in-person banking.

9. Centier Bank

Centier Bank is a well-regarded local bank that is recognized as one of the best banks in Indiana. Although it focuses on the local market, it has the distinction of being the largest family-owned bank in the state.

You can find its branches in cities like Elkhart, Goshen, Granger, Mishawaka, Plymouth, La Porte, Indianapolis, and more, ensuring that you have easy access to banking services in various parts of the state.

In addition to its own ATMs, it offers nationwide access through affiliations with the AllPoint and Publix Presto! networks, enabling convenient cash withdrawals.

The bank’s savings rates can reach up to 5.00% APY when you link your checking account to your savings account, encouraging a beneficial relationship between your active and savings accounts.

Furthermore, Centier keeps the monthly fees on checking accounts low, making it a budget-friendly option for many customers. This detail, along with its rewarding savings plan, positions Centier as a great choice for people wanting a bank that balances strong community roots with competitive rates.

10. STAR Financial Bank

STAR Financial Bank enjoys a strong local presence, establishing itself as a go-to for many Hoosiers seeking a bank that offers a personal touch.

If a simple banking experience is what you desire, their Basic Checking Account is a great choice, featuring a low monthly fee that can be completely waived if you qualify according to specific criteria.

If you are considering opening a checking account with them, here’s what you need to know: meeting certain conditions means you won’t have to worry about monthly service fees. Plus, the bank’s online and mobile platforms are well-designed, providing an easy way to manage your finances.

Setting up a bank account is fairly accessible too, with a low requirement of just $50 for the initial minimum deposit. This makes STAR Financial Bank a user-friendly option for those taking their first steps into managing their finances with a bank.

11. BMO Harris Bank

BMO Harris Bank has a substantial customer base not only in Indiana but also in several other states, such as Wisconsin, Arizona, and Florida, among others. In Indiana, they have numerous branches, particularly in the Indianapolis and Gary regions.

While the savings account interest at 1.00% APY might seem a bit on the lower side, they offer very competitive CD rates that can go up to a rewarding 4.50% APY.

BMO Harris has an exciting offer for new clients; you have a chance to earn a $300 cash bonus when you open a basic checking account, and a larger bonus of $500 for high-balance checking accounts. Some of them come with no monthly fee or the opportunity for the monthly fee to be waived.

Apart from the array of deposit accounts available, BMO Harris is ready to assist you with a diverse selection of products including retirement accounts and wealth management services. You’ll also find different types of loans such as mortgage, auto, and personal loans.

A few more perks of working with BMO Harris include free checking accounts, and access to a wide network of over 40,000 AllPoint ATMs. This ensures that cash withdrawals are always convenient, regardless of where you are.

12. 1st Source Bank

1st Source Bank primarily serves customers in Northern Indiana and Southwestern Michigan, although it maintains a modest footprint in Florida.

The bank caters to the younger demographic by offering a student checking account with no monthly maintenance fee. Additionally, they provide Health Savings Accounts, which can be a boon for individuals looking to set aside funds for medical expenses.

They also have a broad spectrum of loan options, making it easier for customers to find a financial solution that fits their needs. In essence, 1st Source Bank delivers a mix of specialized services that can be beneficial for residents within their primary operating regions.

13. Ally Bank

Among the best online banks, Ally Bank distinguishes itself by delivering a broad range of digital services tailored to address the diverse requirements of its customers.

With Ally, customers can enjoy a checking account that comes without no monthly fees or minimum balance requirements and has the added benefit of accruing interest, a feature extended to their savings accounts as well.

Even though banking on a mobile platform can have its downsides, Ally strives to provide convenience through a vast network of 43,000 ATMs spread across the country, including many cities and towns in Indiana.

However, it is important to note that, unlike some other digital banks, Ally does not facilitate cash deposits at retail partners, which could be a limitation for some.

Adding a feather to its cap, Ally gives you the perk of receiving your paycheck up to two days earlier than the standard payday, giving you more flexibility and ease in managing your finances.

Furthermore, Ally attracts savers with appealing rates on CDs and savings accounts, making it a hassle-free and rewarding choice for online banking aficionados.

14. Old National Bank

Old National Bank holds a strong base not just in Indiana but also in numerous other states, including Michigan, Wisconsin, Minnesota, Kentucky, and Illinois.

As a regional bank, it doesn’t shy away from showcasing a plethora of services and amenities often found in larger banks. A case in point is its robust mobile app that offers mobile check deposit and online bill pay right from your smartphone.

Old National Bank offers three savings accounts, a kids saving account, a Christmas Club savings account, and a money market account. It also offers several checking accounts, home, auto, personal loans, credit cards, and much more.

Additionally, clients have the dual advantage of accessing a wide network of ATMs both through Old National and AllPoint nationwide. The bank also takes care of younger customers by offering student checking accounts.

Old National Bank is a reliable option, marrying traditional brick-and-mortar services with modern banking conveniences, aimed at providing a satisfying experience for all customers.

15. First Bank

In Indiana, small business owners in cities including Evansville, Haubstadt, Mount Vernon, Poseyville, Princeton, and Vincennes can find a dependable local banking partner in First Bank.

Catering both to businesses in these Indiana cities and extending its services to Illinois, the bank facilitates seamless business operations through its online and mobile banking solutions.

Even though it operates exclusively online, First Bank grants you the convenience of fee-free withdrawals at over 40,000 MoneyPass ATMs nationwide, ensuring you are never far from a withdrawal point when you need it.

At First Bank, small business owners can explore various financial products tailored to suit their requirements. From business loans to equipment financing, the bank offers solutions to help local businesses thrive. Furthermore, they equip businesses with invaluable cash management tools that can play a pivotal role in maintaining a steady and healthy cash flow.

Members can also benefit from free checking options, a perk designed to help minimize operational costs. Additionally, First Bank extends attractive rates on business and equipment loans, demonstrating its commitment to support the financial prosperity of businesses in the region.

16. Regions Bank

Regions Bank has established a strong presence in the Southern and Midwestern regions of the U.S., including in Indiana, showcasing a vast network with over 1,450 branches and almost 2,000 ATMs spread across 16 states. Holding a noteworthy position as the 25th ranked bank nationwide, it is known for delivering outstanding customer service.

Regions Bank offers a variety of services to help customers achieve their financial goals. Customers can open checking or savings accounts, explore money market accounts and CDs, and apply for credit cards or mortgages.

To enhance the banking experience, Regions Bank presents the Regions Cashback Rewards program, where account holders have the opportunity to earn rewards on their savings and checking accounts, adding value to their banking transactions.

Coupled with a user-friendly mobile app, managing your finances becomes a breeze, allowing you to have control over your money at your fingertips.

In addition, they offer round-the-clock customer support, ensuring assistance is available anytime you need help or have queries, solidifying its reputation as a bank that prioritizes customer satisfaction.

17. Horizon Bank

Indiana residents seeking a balance between contemporary banking features and time-honored services can turn to Horizon Bank. Situated in Michigan City, it has remained community-focused since its inception in 1873, adapting over the years to serve the community.

Horizon is known for providing a wide array of financial products to suit different preferences and goals. From various checking and savings accounts to money market accounts and CDs, the bank has it covered. They also offer IRAs, retirement accounts, mortgage options, and credit cards.

One of Horizon’s strengths is its long-standing reputation among area residents, a testament to its reliable and consistent services over the decades. It serves as a go-to option for many because of its comprehensive services encompassing personal and business banking, as well as mortgage solutions.

Additionally, the bank facilitates easy and convenient banking through its online and mobile banking features, allowing you to manage your finances efficiently from wherever you are.

18. Bank of America

Among Indiana’s most trusted national bank options is the venerable Bank of America. With its expansive reach across the state, it provides Hoosiers with convenient access to banking services, be it through its numerous brick-and-mortar branches or advanced online and mobile banking platforms.

Bank of America is renowned for its diverse suite of financial solutions designed for both individual and business customers.

From standard checking and savings accounts to sophisticated investment and loan options, it caters to a wide spectrum of financial requirements. The bank also offers better-than-average rates on home equity loans and auto loans.

One notable perk is the bank’s Preferred Rewards program. It offers plenty of benefits like interest rate boosts, cash back, and no-fee banking services based on your account balances.

How to Choose the Best Banks in Indiana

Finding the best bank or credit union in Indiana can be a challenging task. From large national banks and regional banks with branches dotted across the state to local credit unions deeply embedded in their communities, Indiana offers a wide variety of banking options. But how do you determine which bank is the best for your needs? Here’s a guide to help you in your search:

  • Identify your needs: Before diving in, figure out what you prioritize in a bank. Are you looking for the best checking accounts, high-interest savings accounts, or robust wealth management services? Your specific needs will influence your decision.
  • Physical branches vs. digital services: With the rise of online banking, not everyone requires a physical branch anymore. However, some still prefer the personal touch and face-to-face interactions. Determine if you want a bank with multiple local branches or if you’re content with robust digital services.
  • ATM access: If ATM withdrawals are frequent in your routine, consider banks or credit unions that offer a wide ATM network or reimbursement for ATM fees. Some institutions in Indiana are part of larger ATM networks, giving you surcharge-free access across the state or even nationally.
  • Rates and fees: Compare interest rates for savings accounts, CDs, and loans. At the same time, be wary of hidden fees. Some banks might offer higher interest rates but come with monthly maintenance fees, minimum balance requirements, or other costs.
  • Customer service: Good customer service can make a difference, especially during challenging financial situations. Look for banks with a reputation for being responsive and supportive. Online reviews, testimonials, and word of mouth can be great resources.
  • Specialized services: If you’re an entrepreneur or run a business, you might want banks that offer dedicated business accounts, merchant services, or business loans. Similarly, students might want banks that offer student-specific accounts or services.
  • Community involvement: Many people prefer banks or credit unions that invest back in the local community, whether through charitable endeavors, local sponsorships, or local events. If this matters to you, research the bank’s involvement in the community.
  • Safety and security: Ensure that your chosen bank or credit union is insured by the FDIC (for banks) or the NCUA (for credit unions). This guarantees that your deposits are protected up to the insured amount.

Bottom Line

Selecting the right bank is a crucial decision that can affect your financial life in numerous ways, from the ease of daily transactions to the growth of your savings. Indiana is home to a variety of banking options to suit every need, whether you’re seeking a traditional brick-and-mortar bank, a versatile regional bank, or an online-only platform with high yield rates.

As you weigh your options, consider what factors are most important to you. Your perfect banking partner should not only meet but exceed your financial expectations, offering convenience, low fees, and value-added services to help you reach your financial goals.

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.