Louisiana is a unique state, packed with interesting attractions, delicious food, and beautiful landscapes. But the state is also home to millions of residents in need of banking services. The best banks in Louisiana offer plenty of amenities, including low-fee checking accounts and ATM access where you need it.
10 Best Banks in Louisiana
Whether you’re looking for a national bank or a small regional bank, the best banks depend on the features that matter most to you. Here are some of the top banks in Louisiana to help you narrow down your options.
1. Hancock Whitney Bank
Based in nearby Gulfport, Mississippi, Hancock Whitney Bank has branches in Louisiana, Mississippi, Alabama, Florida, and Texas. If you’re looking for a regional bank with plenty of physical branches, Hancock Whitney could be a great choice. The checking accounts do come with monthly maintenance fees and a minimum deposit, but you’ll get competitive rates on CDs and personalized customer service.
Fees:
- $7 monthly service fee
- No overdraft fees
Balance requirements:
- $25 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at Hancock Whitney ATMs from Florida to Texas
- $2 per out-of-network ATM transaction
Interest on balance:
- Up to 5.00% APY on CDs
Additional perks:
- Great rates on small business loans
- IDProtect ScoreTracker helps you track your monthly credit score
2. Chime
Chime is an online banking option that has no local branches. You’ll get a totally free checking account and an online savings account that pays 2.00% APY. As long as you have at least $200 directly deposited into your account each month, you can qualify for Spot Me, which covers you for up to $200 in overdrafts.
Fees:
- No monthly service fee
- No overdraft fees
Balance requirements:
- No minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at more than 60,000 AllPoint and MoneyPass locations
- $2.50 per out-of-network ATM transaction
Interest on balance:
- Up to 2.00% APY on savings accounts
Additional perks:
- Spot Me covers up to $200 in overdrafts (direct deposit required)
- Build credit with a secured credit card that has no credit check
3. Gulf Coast Bank
Gulf Coast Bank is a local bank with branches in Baton Rouge and New Orleans. You’ll get personalized customer service and a checking account with no monthly fees. You can get fee-free ATM access at any Gulf Coast or Community Cash ATM nationwide.
Fees:
- No monthly service fee
- $35 overdraft fee
Balance requirements:
- $20 minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at Gulf Coast ATMs
- Fee-free at Community Cash ATMs
- $1.50 per out-of-network ATM transaction
Interest on balance:
- Up to 0.60% APY on savings accounts
Additional perks:
- Nearly Virtual Mortgage provides a mostly paperless lending process
- Check your credit score at any time in the Gulf Coast Bank dashboard
4. CIT Bank
CIT Bank is a mobile and online banking option with checking and savings accounts. Although the bank has no branches or ATMs, the interest-bearing checking account offers 0.10% APY on your checking balance, which bumps up to 0.25% APY once your balance reaches $25,000. CIT’s savings accounts and CDs come with impressive rates as well.
Fees:
- No monthly service fee
- No overdraft fees
Balance requirements:
- $100 minimum opening deposit
- No minimum daily balance required ($25,000 to earn higher interest rate)
ATMs:
- No ATMs provided, but no CIT Bank fees for ATM use
- Up to $30 in third-party ATM fees reimbursed monthly
Interest on balance:
- Up to 0.25% APY on checking
- Up to 4.50% APY on savings
- Up to 5.00% APY on CDs
Additional perks:
- Set travel alerts to avoid issues while away from home
- Award-winning customer service
5. Red River Bank
With branches and ATMs across Louisiana, Red River Bank is a great local bank. You’ll get excellent customer service and checking accounts with no monthly fees. Red River offers ATM access at its own ATMs across Louisiana. You can also withdraw cash at Hancock Whitney ATMs in Louisiana and across the U.S.
Fees:
- No monthly service fee
- $34 overdraft fees
Balance requirements:
- $50 minimum opening deposit
- No minimum daily balance is required
ATMs:
- Fee-free at Red River and Hancock Whitney ATMs throughout Louisiana and the U.S.
Interest on balance:
- 0.10% APY on checking
Additional perks:
- Penny RoundUP moves money from each debit card purchase to your savings account
- Wide variety of personal loans
6. GO2bank
Another mobile banking option with competitive offerings is GO2bank. You’ll get a fee-free checking account as long as you have at least one payment directly deposited to your account each month. But the real winner is GO2bank’s savings accounts, which offer 4.50% APY. Unlike other online banks, GO2bank also allows you to deposit cash at retail locations nationwide for a small fee.
Fees:
- No monthly service fee with qualifying direct deposits
- $15 overdraft fee
Balance requirements:
- No minimum opening deposit
- No minimum daily balance required
ATMs:
- Fee-free at AllPoint ATMs nationwide
- $3 per out-of-network ATM transaction
Interest on balance:
- 4.50% APY on savings accounts
Additional perks:
- Cash deposits at nearly 90,000 retail locations nationwide
- Secured credit card that helps you build credit
7. First Horizon Bank
It may have started as First Tennessee Bank, but First Horizon Bank has expanded to locations across the U.S., including Louisiana. It’s one of the best banks in Louisiana for those looking for a free checking account with local branches in 12 states. The interest rates are fairly low, but there is a money market savings account that offers up to 1.75% APY.
Fees:
- No monthly service fee
- $35 overdraft fee
Balance requirements:
- $50 minimum opening deposit
- No minimum balance requirements
ATMs:
- Fee-free at First Horizon ATMs
- $3 per out-of-network ATM transaction
Interest on balance:
- Up to 1.75% APY on money market savings accounts
- 0.30% APY on traditional savings accounts
- Up to 0.10% APY on CDs
Additional perks:
- Wealth management services available
- Account recommender helps you choose between checking accounts
8. Chase Bank
There are some perks that come with a national bank, and Chase Bank is a good example of that. You’ll get a full suite of banking services, including multiple checking options and a free debit card that you can use at ATMs across the nation. If you prefer a bank with in-person service, Chase has 4,700 branches.
Fees:
- $12 monthly service fee (waived with minimum deposit)
- $34 overdraft fee
Balance requirements:
- No minimum opening deposit
- No minimum balance requirement ($1,500 or $500 direct deposits to waive $12 service fee)
ATMs:
- Fee-free at more than 15,000 Chase ATMs
- $3 per out-of-network ATM transaction
Interest on balance:
- 0.01% APY on savings accounts
Additional perks:
- $200 bonus on new checking accounts
- Overdraft Assist gives you extra time to repair overdrafts
9. Regions Bank
One of the best regional banks in Louisiana is Regions Bank, which has branches in Louisiana, as well as Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
The basic checking account’s requirements to avoid monthly service charges include maintaining a $1,500 minimum balance or $500 in direct deposits.
Fees:
- $8 monthly service fee (waived with minimum deposit)
- $36 overdraft fee
Balance requirements:
- $50 minimum opening deposit
- No minimum balance requirement ($1,500 or $500 direct deposits to waive $12 service fee)
ATMs:
- Fee-free at more than 2,000 Regions ATMs
- $3 per out-of-network ATM transaction
Interest on balance:
- Up to .01% APY on savings
- Up to 4.75% on CDs
Additional perks:
- $50 Visa Reward Card for referring new account holders
- 1% annual savings bonus for connected savings account
10. Ally Bank
Ally Bank’s online banking options include an interest checking account that earns 0.25% APY. You’ll also get competitive interest rates on your savings account and CDs. Although there are no physical locations, you’ll have access to ATM withdrawals at 43,000 ATMs. If you regularly need to make cash deposits, though, Ally might not be the best bank for you.
Fees:
- No monthly service fee
- No overdraft fee
Balance requirements:
- No minimum opening deposit
- No minimum balance
ATMs:
- Fee-free at more than 43,000 AllPoint ATMs
- Refund of up to $10 in out-of-network ATM fees per cycle
Interest on balance:
- 0.25% APY on checking
- 3.75% APY on savings
- Up to 4.50% on CDs
Additional perks:
- Advanced investment services including Robo Portfolios
- Spending buckets help you manage your finances
Bottom Line
Whether you’re looking to avoid monthly service fees or enjoy the conveniences of an online bank, it’s important to compare multiple accounts. The best banks in Louisiana may not be the ones that have the lowest fees. Instead, you may find that the convenience of a bank with higher fees makes it worth the extra cost.
