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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.
16 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.
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 wide range of banking products.
U.S. Bank is currently welcoming new applicants with a special offering:
Subject to certain terms and limitations. Offer valid through May 6, 2025. 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 stands out as a premier online bank in Indiana, featuring high-yield Checking & Savings accounts. The bank delivers up to 3.80% APY on savings and 0.50% APY on checking, with no monthly fees or minimum deposit requirements.
Customers who set up direct deposit can access their paychecks up to two days early.
Security is a key focus at SoFi, where FDIC insurance safeguards deposits up to $2 million. The bank also offers overdraft protection, covering up to $50 without fees for those with qualifying direct deposits.
New customers at SoFi receive a welcome bonus ranging from $50 to $300, based on the direct deposit amount. Additionally, customers have access to over 55,000 ATMs through the Allpoint® network, enhancing convenience.
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.
Fifth Third Bank is a well-established regional bank with a strong presence in Indiana, including branch locations in Bloomington, Evansville, Fort Wayne, Indianapolis, Lafayette, and South Bend.
Its Preferred Checking account comes with no monthly fees or minimum balance requirements, making it an appealing choice for everyday banking. The bank also offers specialized accounts for students and military members.
Fifth Third’s product lineup includes checking and savings accounts, CDs, credit cards, and foreign currency exchange. While savings rates may fall short compared to online banks, the customer service is frequently praised.
Customers benefit from access to over 40,000 fee-free ATMs nationwide through Fifth Third and the MoneyPass network, helping you avoid unnecessary fees wherever you go.
First Financial Bank, originally from Ohio, has expanded into Indiana, Illinois, and Kentucky, becoming one of the top banks in Indiana.
It combines full-service banking with the personal touch of a local institution. Customers can benefit from loan discounts through select checking accounts and competitive CD rates.
First Financial also offers multiple savings options, including a standard savings account, an interest-earning account, and a student savings account.
With well-distributed branches in Indiana and access to over 55,000 AllPoint ATMs, account holders have convenient cash withdrawal options. A standout feature is its interactive tellers, providing personal service for those who prefer a human touch.
First Merchants Bank has a strong presence across Indiana, with branches in cities such as Anderson, Bloomington, Fort Wayne, Greenwood, Kokomo, Lafayette, Muncie, and Terre Haute.
Known for personalized service and local community involvement, the bank is a solid choice for those who want dependable customer support along with digital convenience.
Its free checking account has simple requirements—either maintain a $100 balance or complete one customer-initiated transaction per statement cycle to avoid fees.
Customers can also access over 40,000 fee-free MoneyPass ATMs, offering easy access to cash across the country.
For savers, First Merchants Bank provides competitive CD options, including strong rates on 12-month terms, giving account holders a reliable way to grow their savings.
Huntington Bank is a regional bank with branches across Indiana, Kentucky, and Ohio.
In Indiana, locations include Alexandria, Avon, Brownsburg, Carmel, Danville, Fishers, Franklin, Greenwood, Indianapolis, Lafayette, Lebanon, Noblesville, Plainfield, West Lafayette, Westfield, and Zionsville.
The Asterisk-Free Checking Account stands out with no monthly maintenance fees and access to over 1,600 Huntington ATMs.
Customers also benefit from a strong online banking platform with digital tools for easy account management.
A key feature is the 24-Hour Grace policy, which provides extra time to cover overdrafts and avoid fees. With a strong branch presence across the state, Huntington offers both digital convenience and in-person service.
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.
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.
1st Source Bank, headquartered in South Bend, Indiana, has been serving communities since 1863.
With a strong presence in Northern Indiana and Southwestern Michigan, the bank operates 69 branches across 35 cities in Indiana.
Branch locations include Elkhart, Fort Wayne, Mishawaka, and South Bend. They also maintain a modest footprint in Florida.
The bank offers various services, including personal and business banking, loans, and wealth management. Their Specialty Finance Group provides financing for aircraft, trucks, and construction equipment, catering to niche markets.
For students, 1st Source Bank offers a checking account with no monthly maintenance fee, making it a practical choice for those pursuing higher education.
Additionally, they provide Health Savings Accounts, allowing individuals to set aside funds for medical expenses.
With a broad spectrum of loan options, customers can find financial solutions tailored to their needs, whether for personal use, business ventures, or specialized equipment financing.
Among the best online banks, Ally Bank distinguishes itself by offering a wide range of digital services.
Customers get a fee-free checking account with no minimum balance requirements that also earns interest. Savings accounts and CDs offer competitive rates, making Ally a strong choice for those looking to grow their money.
Ally provides access to 43,000 ATMs nationwide, including locations across Indiana. However, it does not support cash deposits at retail partners, which may be a drawback for some.
A standout feature is early direct deposit, allowing customers to receive paychecks up to two days early for added flexibility. With strong digital tools and high-interest savings, Ally is a top option for online banking.
Old National Bank has a strong presence in Indiana and operates in Michigan, Wisconsin, Minnesota, Kentucky, and Illinois.
It combines traditional banking with modern conveniences, offering a mobile app with check deposit and online bill pay.
Customers can choose from three savings accounts, a kids’ savings account, a Christmas Club savings account, and a money market account.
The bank also provides multiple checking options, credit cards, and home, auto, and personal loans.
With access to Old National and AllPoint ATMs nationwide, customers enjoy broad ATM availability. The bank also offers student checking accounts, making it a solid choice for younger customers.
First Bank serves small business owners in Evansville, Haubstadt, Mount Vernon, Poseyville, Princeton, and Vincennes, as well as businesses in Illinois.
It supports local businesses with online and mobile banking, fee-free withdrawals at more than 40,000 MoneyPass ATMs, and tailored financial products.
Business owners can access loans, equipment financing, and cash management tools to maintain steady cash flow.
The bank also offers free business checking and competitive rates on loans, reinforcing its commitment to helping businesses grow.
Regions Bank has a strong presence in the Southern and Midwestern U.S., including Indiana, with more than 1,450 branches and nearly 2,000 ATMs across 16 states.
Ranked as the 25th largest bank in the country, it is known for reliable customer service.
Customers can open checking and savings accounts, explore money market accounts and CDs, and apply for credit cards or mortgages.
The Regions Cashback Rewards program allows account holders to earn rewards on their savings and checking accounts.
The bank’s mobile app makes managing finances easy, providing access to essential banking features. With 24/7 customer support, Regions ensures help is available whenever needed.
Horizon Bank, headquartered in Michigan City, Indiana, serves customers across the state with a mix of modern banking features and personalized service.
With branches in cities like Indianapolis, LaPorte, Merrillville, Lafayette, Attica, and Franklin, it provides convenient access for those seeking both personal and business banking solutions.
The bank offers checking and savings accounts, money market accounts, CDs, IRAs, retirement accounts, mortgages, and credit cards.
Customers can also take advantage of online and mobile banking tools, making it easy to manage accounts from anywhere.
With a strong reputation for reliability, Horizon Bank is a solid choice for those looking for a trusted, community-focused bank with a wide range of financial products.
Bank of America stands out as one of the most accessible banking options in Indiana, offering a combination of physical branches and advanced digital banking tools.
It provides a broad range of financial products for both individuals and businesses, making it a versatile choice for many customers.
The bank offers checking and savings accounts, along with investment and lending solutions, including competitive rates on home equity and auto loans.
Customers can also take advantage of its Preferred Rewards program, which provides benefits such as higher interest rates, cash back, and fee waivers based on account balances.
With its strong mix of in-person service and digital convenience, Bank of America delivers a well-rounded banking experience tailored to various financial needs.
How to Find the Best Bank in Indiana
With national banks, regional banks, and local credit unions, Indiana offers plenty of banking options. Choosing the right one depends on your financial needs and banking habits.
Branch access vs. digital banking: Some prefer in-person service, while others rely on mobile apps. Choose a bank that fits your lifestyle.
ATM availability: Look for banks with a large ATM network or fee reimbursements if you frequently withdraw cash.
Rates and fees: Compare interest rates on savings and CDs, while watching for monthly fees and minimum balance requirements.
Customer service: Reviews and recommendations can help you find a bank with responsive support.
Specialized services: Entrepreneurs, students, and frequent travelers may need specific banking options tailored to their needs.
Community involvement: Some banks actively invest in local initiatives, which may be important if you prefer supporting community-focused institutions.
Security: Ensure the bank is FDIC-insured or, if it’s a credit union, backed by the NCUA for deposit protection.
Weighing these factors will help you find a bank that fits both your short-term and long-term financial goals.
Bottom Line
Indiana has plenty of banking options, whether you want a bank with local branches, a credit union with member benefits, or an online bank with low fees. The best choice depends on what fits your financial needs.
Compare account features, fees, and customer service before making a decision. If a better option comes along, switching banks can help you save money and manage your finances more effectively.
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.
