Indiana makes a name for itself with the Indianapolis 500, the University of Notre Dame, and the various steel mills and farms that employ hundreds of thousands of workers. It’s also home to several banks and credit unions serving Indiana's hard-working residents.
When it comes to finding the best banks in every state, most people look for a few different features. These may include what types of accounts the bank offers, what fees it charges, and what perks it offers to those who sign up for an account.
Bankrate recently completed a survey and found that 37% of consumers find low or no monthly fees to be the most important. Paying for a bank to manage your money is hardly a sign of a modern bank.
The best banks in Indiana on our list below include several that don’t charge a monthly fee or require a minimum balance. Many offer welcome bonuses and other perks to help earn your business.
Are you ready to learn more about the best banks in Indiana? Let’s get started!
Best Banks in Indiana
If you’re in the market for a new checking account, you’ll find some of the best bank accounts below. These accounts work with you to offer superior service with the perks you need to manage your money more effectively.
1. KeyBank (Our Pick)
Key Smart Checking® from KeyBank is one of the best checking account options available to Indiana residents. With no monthly maintenance fees and no minimum balance requirements, it’s designed for simplicity and convenience.
New customers can earn a $300 bonus by opening an account online by May 16th, 2025, making a $10 minimum deposit, and completing one single eligible direct deposit of $1,000 or more within the first 60 days. This is one of the simplest bank account bonuses to score.
This account offers several perks, including free access to KeyBank and Allpoint® ATMs nationwide, overdraft protection with no transfer fees when your checking account is linked to an eligible KeyBank credit or savings account, and you may be able to get paid up to two days early with Early Pay.
Additionally, the EasyUp® feature can help you build up savings or pay down debt without even thinking about it.
Key Smart Checking® also provides robust online and mobile banking services, allowing you to deposit checks, pay bills, and manage your account securely from anywhere. Enjoy added security and convenience with a KeyBank Debit Mastercard®.
You can find more information about fees and availability on KeyBank's official website.
Key Smart Checking® from KeyBank offers no monthly fees or minimum balance requirements, making it affordable. It provides convenient online and mobile banking features, including mobile check deposit and contactless payments. With a large network of ATMs and overdraft protection options, it's ideal for tech-savvy and budget-conscious users.
2. 3Rivers Federal Credit Union
If you need a second-chance checking account, check out 3Rivers Federal Credit Union. This credit union offers Onward Checking to build positive banking history with a flexible account.
With the Onward Checking account, you must pay an $8 monthly fee, but you don’t have to maintain a minimum balance. The account doesn’t require an opening deposit and offers a free Visa debit card.
If you incur an overdraft fee, 3Rivers Federal Credit Union will pay the first one for you. You’ll also get access to online and mobile banking with bill pay.
3Rivers Federal Credit Union connects to a network of tens of thousands of ATMs. Branches can be found in Bluffton, Decatur, Kendallville, Fort Wayne, and Auburn.
3. Centier Bank
Founded in 1895, Centier Bank is based in Merrillville and operates 60 branches in the state. It offers personal and small business banking products, from checking and savings accounts to small business loans.
Most checking accounts come with the ability to waive the already-low monthly fees. You can also choose from various CDs, IRAs, and investment services.
Centier Bank offers the convenience of online and mobile banking. This family-owned bank is a favorite among Indiana residents.
4. Centra Credit Union
Opportunity Checking account is one of the best checking accounts you can open with Centra Credit Union. However, you’ll first need to open an Opportunity Savings account as part of your membership with this credit union.
The Opportunity Savings account requires $5 to open. With the Opportunity Checking account, you can reduce the $8 monthly fee to $5 if you set up direct deposit.
Centra Credit Union’s Opportunity Checking account includes a free Mastercard debit card, online and mobile banking, bill pay, overdraft protection, and unlimited check writing. This bank operates branches in several cities, including Scottsburg, North Vernon, Indianapolis, Madison, Shelbyville, and Edinburgh.
5. CommunityWide Federal Credit Union
You must submit to a credit check if you want to join CommunityWide Federal Credit Union. This credit union requires $15 to open your account, but you can only earn interest if you have at least $500.
If you’re an employee, retiree, or donor to participating organizations in northern Indiana, you qualify for membership. You can also be eligible if you donate to a nonprofit associated with this credit union, such as the Housing Assistance Office, Hope Rescue Mission, and Goodwill.
CommunityWide Federal Credit Union owns 11 branches in Elkhart, Granger, Plymouth, Goshen, Warsaw, South Bend, and Mishawaka.
6. First Financial Bank
First Financial Bank is known for its customer service and has been around for 100 years. This bank offers major financial services, including checking, savings, and health savings accounts.
Most of First Financial Bank’s checking accounts come with no monthly fees. This bank also offers live chat and high APYs on select accounts.
7. First Merchants Bank
Headquartered in Indiana, First Merchants Bank offers checking and savings accounts, mortgages, wealth management, investment and retirement accounts, trusts, and estate planning. This member-FDIC also caters to business customers with loans, credit cards, and lines of credit.
If you open a First Direct Checking account, you’ll pay a $10 monthly fee. However, there is no minimum opening deposit or transfer fees if you use bill pay.
8. First Trust Credit Union
You can choose from two checking accounts with First Trust Credit Union. The Traditional Checking account has no monthly fees or minimum balance requirements and comes with a free Visa debit card.
Additional account features include unlimited check writing and overdraft protection. You must live or work in the following counties to open an account:
- La Porte
- Porter
- Jasper
- Newtown
- Pulaski
If a close family member is already a member or you work for a community partner, you are eligible for membership. First Trust Credit Union has branches in Michigan City, Valparaiso, La Porte, and Wheatfield.
9. Horizon Bank
Horizon Bank invests fully in the community, offering the following financial products and services to its members:
- Checking accounts
- Savings accounts
- Retirement accounts
- CDs
- Mortgages
- Home equity, personal, and auto loans
- IRAs
- HSAs
- Credit cards
- Wealth management
This bank was founded in 1873 and continues to make a difference in the lives of those in Indiana. Horizon Bank also offers business banking and a Fresh Start checking account for those who want to improve their banking record.
You can also opt for the free investment review from Horizon Bank. Most checking accounts also allow you to waive the monthly fees.
10. Kentland Bank
The Personal Checking account is Kentland Bank’s basic checking account. It requires a $100 minimum opening deposit, and the monthly maintenance fees depend on your account balance.
If you keep your account below $250, you must pay $8 monthly. The more you have in your account, the less you’ll pay in monthly fees.
You can waive the monthly fee if you’re a senior or use less than five checks per month. Kentland Bank operates locations in Rensselaer, Lake Village, Kentland, Lafayette, and Roselawn.
11. Old National Bank
Old National Bank offers one of the best banking apps for Indiana residents. This bank includes online and mobile banking among its services, checking and savings accounts, and wealth management.
While Old National Bank can’t compete with online-only banks that offer higher APYs, it does help you budget and break down your expenses to understand where your money is going. You can also calculate your net worth with the Money Management feature.
Old National Bank lets you link your Visa debit card to a digital wallet. You can add your new debit card to Samsung Pay, Apple Pay, or Google Pay accounts.
This bank also partners with Popmoney to help you send and receive funds from friends and family. Any recipients you send money to don’t have to have a Popmoney account to participate.
12. One Vision Federal Credit Union
With the Rising Star Checking account, you can improve your banking history to open another standard checking account for more perks. This account requires a $15 monthly fee that you can lower to $10 if you meet the following requirements:
- Complete a financial education workshop
- Maintain a minimum balance of $30
- Sign up for direct deposit
You can become a member if you live, work, attend school, or worship in Clark, Floyd, or Harrison Counties. The application process requires a one-time $1 membership fee and opening a Prime Share account with $5.
13. Republic Bank
You must have a Social Security number and government ID to open a Republic Bank account. The Checking Builder Account helps you improve any past issues you had with bank accounts and comes with a $12.95 monthly fee.
You can reduce this fee if you sign up for direct deposit or have 20 transactions posted to your account within a month. There are no minimum balance requirements besides the $50 initial deposit requirement.
Republic Bank’s checking accounts also include free bill pay, unlimited check writing, and free ATM transactions at many major ATM networks nationwide. If you need a second-chance checking account, Republic Bank can help.
14. STAR Financial Bank
This locally-owned bank is known for offering cutting-edge technology services and personalized banking on a business and personal level. In addition to online and mobile banking, STAR Financial Bank provides:
- Checking accounts
- Savings accounts
- Mortgages
- Car loans
- CDs
- Business banking services
You can open a new account online in minutes. If you apply for an auto or home loan online, you’ll have an answer within minutes.
15. The National Bank of Indianapolis
This bank is one of the largest locally-owned banks in Indianapolis. It’s been in business for over a quarter of a century and offers personal and business banking services.
The National Bank of Indianapolis offers a 0% APR credit card, competitive interest rates, and many loans. You’ll also receive fee-free ATM access and online and mobile banking.
16. United Fidelity Bank
Open a New Day Checking account with $25 to improve your banking history. There’s no minimum balance associated with this account, but you do have to pay an $8 monthly fee.
If you can go 12 months without putting your bank account into the negative, you can remove the monthly fee. Keep a positive account balance for at least six months, and you can also request a Visa debit card.
United Fidelity Bank offers unlimited check writing and online banking. You can find multiple locations in Evansville and Indianapolis.
17. 1st Source Bank
Based in South Bend and founded in 1863, 1st Source Bank is often recognized for its superior customer service. You can reach the 1st Source Bank team via live chat or email if you can’t visit a local branch.
This bank operates over 100 branches in Indiana. Several financial tools and resources are on its website, from interactive savings calculators to financial advice.
Best Savings Accounts
- APY: 4.00%
- Minimum to Earn APY: $1
- Up to $325 welcome bonus for new accounts
How to Compare Savings Accounts
Between the largest banks in the U.S. and community banks, there are hundreds of savings accounts to choose from. Here are a few features to keep in mind when you’re comparing savings accounts:
- Interest rates (APYs): Most people open a savings account to earn interest on their balance and keep those funds away from their spending account. Many online-only banks offer high APYs on their savings accounts, but local banks can compete with these rates.
- Fees: National banks often limit how many times you can withdraw funds from your savings account. Banks may also charge you a monthly fee if you don’t keep a designated minimum balance.
- Account requirements: Savings accounts often come with a required minimum opening deposit. Credit unions typically require you to open either a checking or savings account to establish your membership.
- Convenience: The best savings accounts not only connect to checking accounts to cover any overdrafts and avoid fees, but they also make it easy to save money automatically when you use your checking account.
Many people open a savings account at the same bank that holds their checking account. However, you can open a savings account at most banks without opening a checking account first.
Best Checking Accounts
- More than 15,000 ATMs and 4,700 physical locations
- New customers can qualify for a $300 intro bonus
- User-friendly online and mobile banking tools
- No minimum deposit to open
- Chase Overdraft Assist and Zero Liability Protection
- Grow your money with the highest APY on your balances
- Member FDIC, up to $2M of additional FDIC insurance
- No account fees or balance minimums
- Earn up to $300 with qualifying direct deposit, terms apply
- No. Fees. Period.
- Get up to $30 in other bank's ATM fees reimbursed per month
- .25% APY on balances over $25K
- Build credit with everyday purchases
- No annual fees
- No credit checks or history required to apply
- Get up to a $500 paycheck advance anytime
- Get paid up to 2 days faster
FAQs
Some of the best banks in Indiana include Horizon Bank, First Financial Bank, Centier Bank, 1st Source Bank, Old National Bank, and STAR Financial Bank. Other banks on our list include United Fidelity Bank, The National Bank of Indianapolis, and Republic Bank.
First Financial Bank and First Trust Credit Union offer free checking accounts with no monthly fees. Other banks not on our list may also offer free checking accounts to Indiana residents.
To open a bank account in Indiana, you must have proof of your identity, a Social Security number, and an opening deposit. Some banks do away with an opening deposit, though sometimes you must set up a direct deposit to waive this requirement.
The Best Banks in the Hoosier State
Indiana often gets lumped together with Iowa, Ohio, and Illinois. However, it offers residents unique bank accounts and partnerships that make it easier to manage their money in this state.
We hope this article helps you find a better bank account or even your new bank account if you live in Indiana. Some of the best banks allow you to take care of your finances without worrying about how you’ll pay for monthly fees, overdrafts, or ATM fees.
Learning about the best banks in Indiana is also a great way to compare banks and find the one that best fits your needs. When you know what interest rates and perks are out there, you can feel more confident in your decision when you make it.
Which of the best banks in Indiana will you choose?
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