Best Banks in Utah
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Utah has a blend of traditional banks, credit unions and fintech firms. Many of the banks are focused on technological advancements and community banking. This guide reviews the best banks in Utah for checking, savings and certificates of deposit (CDs), so you can decide which is the best option for you. 
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GOBankingRates' editorial team is committed to bringing you unbiased bank reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our in-depth bank review methodology.
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TOP UTAH BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Utah
Here’s a look at the top banks in Utah for 2025.
Gold Winner: Bank of Utah
The Bank of Utah was founded in 1952. Since then, it has expanded to offer a variety of checking account options, savings accounts and CDs. The bank also offers home, car and RV loans. Clientele with higher incomes can take advantage of their wealth management and investment services, too. 
Best For
Digital Banking
Low Monthly Fees
Loan Options
Investment Services
High CD Rates
Straight-Forward Easy Checking Accounts
Bank of Utah has four different checking accounts with special options for students. Also, the bank offers high APYs on short-term CDs — rates up to .
Total Branch Locations
20
Mobile App Rating
3.3 on the Apple App Store and on Google Play
Other Products Offered
CDs, investments, car loans, home loans and wealth management 
Pros
- Fee-free checking
- Low overdraft fee
- High ratings from customers 
Cons
- Limited branch locations
- Savings rates are lower
- Mobile apps are rated low
Why We Like Bank of Utah
Bank of Utah offers personalized service along with checking accounts that won’t hit you with monthly fees. Beyond the basics, you’ll also find CDs, loans and investment services to help you manage and grow your money.
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Silver Winner: KeyBank
KeyBank has a network of over 1,000 branches as well as over 40,000 ATMs. Customers looking for a new Utah checking account might want to consider KeyBank, as they have four to pick from. In addition, the bank also offers overdraft protection — if your account is overdrawn by $20 or less at the end of the day, no overdraft fee is charged. 
Best For
Mobile Banking
Low Monthly Fees
Personal Loans
Credit Cards
Interest Checking
Low-Fee Savings and No-Fee Checking Accounts
KeyBank stands out for its impressive selection of checking and savings accounts with benefits smaller banks rarely offer. Key Select checking customers enjoy a APY plus a $100 annual bonus with qualifying direct deposits.
Total Branch Locations
Over 1,000
Mobile App Rating
4.7 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, personal loans and lines of credit
Pros
- Comprehensive selection of accounts
- Bonus and rewards programs
- Low- and no-fee options
- Large network of ATMs
Cons
- High fees on some accounts
- Only one interest-bearing checking account
- Branch access is limited
- High overdraft fee
Why We Like KeyBank
KeyBank offers a well-rounded selection of checking and savings accounts with perks like automatic savings, early pay and overdraft forgiveness for overdrafts of $20 or less. Customer service for online and mobile banking is available by phone seven days per week, and you can make an appointment at your local branch to meet face-to-face with a representative.
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Bronze Winner: State Bank of Southern Utah
State Bank of Southern Utah is based in Cedar City and has a comprehensive suite of financial products that focus on individual needs as well as business needs. The bank is particularly interested in the local community and supports business and agricultural lending. 
Best For
Business Banking
Low Monthly Fees
Low Minimum Deposits
Loan Options
Mobile App
Business Banking and Loans
State Bank of Southern Utah offers a full range of products for business banking, in addition to personal accounts. Known for its strong community ties, the bank is especially active in supporting local businesses and agricultural lending.
Total Branch Locations
Over 15
Mobile App Rating
4.8 on the Apple App Store and 4.7 on Google Play
Other Products Offered
Checking, savings, credit cards, CDs, consumer loans, commercial loans, mortgage loans, specialized business and agricultural lending
Pros
- Fee-free checking
- Support for local businesses
- Personalized service 
Cons
- Limited network
- Savings rate is low
- App has mixed reviews
Why We Like State Bank of Southern Utah
State Bank of Southern Utah is an ideal choice for those who value a strong, local relationship with their bank. It offers a no-fee checking account and a commitment to helping local communities and businesses thrive.
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Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Aug. 29, 2025.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Bank in Utah
When it comes to banking in Utah, the right choice depends on your financial goals and how you prefer to manage your money. Here are a few factors to keep in mind as you narrow your options:
- Local vs. national banks: Utah has strong local players like State Bank of Southern Utah, which emphasizes community and business lending, alongside larger institutions like KeyBank that provide national reach and ATM access.
- Digital banking availability: If mobile access matters most, look at app ratings. Decide if the bank’s platform is user-friendly and syncs well with external accounts. 
- Branch and ATM access: How often do you need branch access? If branch and ATM access are essential for you, consider a national bank for your finances. 
- Fee structures and waivers: Some banks make it easy to avoid fees with features like overdraft protection, while others offer low monthly fee options.
- Community involvement: Visit the website to find out about a bank’s community involvement in your area. 
Final Take
Choosing the right bank in Utah depends on your priorities — whether it’s high APYs, local branches or mobile banking. Explore the best banks in Utah for 2025 and start your application today.
FAQs About Banking in Utah
Here's more information to help you find the best Utah bank for your needs.- What is the best bank for high-yield savings in Utah?
- Bank of Utah offers competitive APYs on savings accounts, with rates as high as 2.02%.
- Which banks have the most ATMs in Utah?
- KeyBank provides access to more than 40,000 ATMs nationwide, while Bank of Utah has 20 branches across the state for convenient local access.
- Are there any banks in Utah with no monthly fees?
- State Bank of Southern Utah emphasizes low monthly fees, while KeyBank offers fee-waiver features like overdraft protection when your account is overdrawn by $20 or less.
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Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
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