Best Banks in Indiana
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
From racetracks to cornfields, cities to suburbs, the people and businesses of Indiana have unique needs when it comes to banking. However, just like people across the U.S., most people in Indiana seek savings accounts with high APYs, friendly service and low-fee Indiana checking accounts. GOBankingRates’ guide breaks down some of the top options in the state for checking, savings and high-yield certificates of deposit (CDs).
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Commitment to Our Readers
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 INDIANA BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Indiana
Here are GOBankingRates’ top picks for the best banks in Indiana for 2025.
Gold Winner: Fifth Third Bank
Fifth Third Bank has locations across Indiana, in major cities like South Band and Indianapolis, as well as in rural areas and suburbs. Rated best for its checking account options in Indiana, Fifth Third has no-fee checking with easy online banking, student checking and a checking account tailored toward military members, veterans and their families.
Best For
Mobile Banking
No Minimum Deposit
Low Monthly Fees
Loan Options
Wealth Management
Resources for All Areas of Your Financial Life
Fifth Third Bank stands out for its Momentum Banking, which helps you set up your new account for direct deposit, gives you a free 90-day overdraft window, and then pays your direct deposit two days early. There's no minimum deposit and no monthly service fee.
Total Branch Locations
Over 1,000
Mobile App Rating
4.8 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, loans and wealth management services
Pros
- Help transfer your old account and set up direct deposit
- Different banking programs for all kinds of needs
- Award-winning mobile app
Cons
- Savings interest rate is low
- Express Checking has a $5 per month fee that can't be waived
Why We Like Fifth Third Bank
First Third Bank is among the top banks because it offers holistic banking services that can help you take charge of your finances. From help transferring your direct deposit to checking and savings accounts that work together, this is a bank that grows with you.
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Silver Winner: Lake City Bank
Lake City Bank offers one of the highest APYs for savings you can find at a brick-and-mortar bank in Indiana. With 54 branches across Indiana and a local legacy dating back to 1872, Lake City Bank is a truly local bank with a tech-forward philosophy today’s consumers will love.
Best For
Digital Banking
Low Monthly Fees
Loan Options
Low Minimum Deposit
Credit Cards
Savings Higher Than the National Average
Lake City Bank rewards big savers with up to APY on balances of $50,000 when you maintain at least $25,000 across four or more eligible accounts. This makes it an appealing option for those who want to maximize returns on higher deposits.
Total Branch Locations
Over 50
Mobile App Rating
4.5 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Savings, checking, credit cards, digital investing
Pros
- Rewards checking account
- Easily waive checking fees
- Send and receive money through Zelle
Cons
- Only 54 branches
- High balance requirements for highest savings interest rates
- $25 minimum opening deposit for checking
Why We Like Lake City Bank
In addition to savings yields more than double the national average, Lake City Bank offers rewards checking accounts to put cash in your pocket each month, as long as you meet the qualifications. Plus, enjoy convenient features like Zelle, ATM fee reimbursement and highly rated apps for mobile banking.
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Bronze Winner: 1st Source Bank
If you’re looking for some of the highest CD rates in Indiana, look no further than 1st Source Bank. This local Indiana bank has been serving customers in the northern Indiana and southwestern Michigan since 1863 and offers a range of checking and savings products. It is the largest locally controlled financial institution in the region.
Best For
Top CD Rates
Low Minimum Deposit
Low Monthly Fees
Loan Options
Mobile Banking
CD APYs up to
1st Source Banks offers an 8-month promotional CD with an APY of , setting the bank apart as one of the best in the state for high CD rates.
Total Branch Locations
79
Mobile App Rating
4.8 on the Apple App Store and 4.7 on Google Play
Other Products Offered
$0
Pros
- High-yield CDs
- Easily waive checking fees
- Interest-earning checking available
Cons
- Website is not transparent
- Only 79 branches in two states
- $25 minimum opening deposit for checking
Why We Like 1st Source Bank
With an emphasis on community involvement for centuries, 1st Source Bank provides simple, straightforward products for Indiana residents. The company’s website includes a wealth of resources, including online financial courses, calculators and challenges to help people manage their money better. This commitment to service shines through in everything the bank provides.
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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 Illinois
National banks typically have more branches, making banking easier for frequent travelers. But as online banking grows, the availability of brick-and-mortar branches becomes less important for many people.
People choosing a bank in Indiana may want to evaluate the following features before making a selection:
- Interest rates on savings products
- Monthly fees and how easily they can be waived
- Personalized service
Final Take
To choose from the best Indiana banks, first determine your priorities. Are you looking for high interest rates for savings? No-fee rewards checking? Personalized service at local branches? You can find a bank in Indiana that will meet your needs. Take a look at the choices above and get started by filling out an online application now.
FAQs About Banking in Indiana
Here's more information to help you find the best Indiana bank for your needs.- What is the best bank for high-yield savings in Indiana?
- Lake City Bank offers a 0.86% APY on savings to customers who qualify with a combined $25,000 across four eligible Lake City accounts.
- Which banks have the most ATMs in Indiana?
- To find a bank with the most ATMs in Indiana, look for a financial institution that is partnered with the AllPoint Network. As the largest ATM network in the US, AllPoint has more than 55,000 ATM locations nationwide. Indiana banks that use the AllPoint network include the Community First Bank of Indiana and Centier Bank.
- Are there any banks in Indiana with no monthly fees?
- Fifth Third Bank, with branches in Indiana, has no monthly fees for its Momentum checking account.
More Resources for Banking
Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
Dawn Allcot contributed to the reporting for this article.
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