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Best Banks In Indianapolis

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Finding the Best Banks in Indianapolis

Choosing the best bank in your location is difficult because there are so many banks and they all offer multiple accounts. To help you decide which banks in Indianapolis offer the right accounts for you, SmartAsset created this list of the best banks in the city. Continue reading to see the most accessible banks and to see which banks offer the best accounts.

Bank APY Minimum Deposit Highlights
Chase Bank Chase Bank logo Read More 0.01% $25
  • Best National Bank
  • About 75 branches in the city
Fifth Third Bank Fifth Third Bank logo Read More 0.01% $0
  • Best Regional Bank
Huntington National Bank Huntington National Bank logo Read More 0% $0
  • Best Checking Accounts
PNC Bank PNC Bank logo Read More 0.01% $25
  • Best Savings Account
Regions Bank Regions Bank logo Read More 0.01% $50
  • Best Customer Service
First Financial Bank First Financial Bank logo Read More 0.05% $$50
  • Best Student Accounts

How We Determine the Best Banks in Indianapolis

SmartAsset’s banking experts found the 15 most popular banks in Indianapolis, based on the number of branches in the city. From those banks we selected the best national and regional banks, as well as the best savings and checking accounts. To make our choices, we considered minimum balance requirements, annual percentage yields (APYs), fee structures and overall accessibility.

Best National Bank: Chase Bank


Chase Bank has about 75 branches in Indianapolis. If you need to leave the city, the bank also has more than 5,000 locations across 40 states in the U.S. This large network of branches and ATMs is one of the advantages of working with a major brand like Chase.

Beyond the accessibility of branches, Chase Bank offers all of the financial services and products that a customer could need. There are standard checking and savings accounts. You can open money market accounts (MMAs) and certificates of deposit (CDs).  You can also get credit cards, multiple types of loans and help with investing through a financial advisor.

The downside to working with such a large bank is that you won’t get the highest APYs. No accounts from Chase Bank will offer you significant interest earnings. Even the CD rates aren’t high enough to earn you much.

Best Regional Bank: Fifth Third Bank

Fifth Third Bank

With more than 40 branches in Indianapolis, Fifth Third Bank has a strong presence in the city. Beyond the ease of finding a branch, the bank also offers a variety of accounts. There are savings and checking accounts, including a bare-bones checking account that may appeal to a customer who wants check-writing for no fee. Fifth Third Bank excels at specialized accounts in general. For example, there are accounts tailored to students and military personnel. Savings account, CD and MMA options are similarly diverse. You can also tackle other financial goals through retirement accounts or 529 college savings plans.

Fifth Third Bank’s mobile app is useful with features like an ATM/branch finder, your account history and mobile check deposit. There is also a widget that allows you to check your account balance without logging in.

Best Checking Accounts: Huntington National Bank

Huntington Bank

Huntington National Bank, though based in Ohio, has more than 40 branches in Indianapolis. Only two other banks have more branches, so it’s tough to beat that accessibility. Depending what you’re looking for, you can probably find it with Huntington National Bank. It has multiple standard accounts as well as loans, insurance products and help with investments.

In particular, we’d like to highlight the bank’s range of checking accounts. If you’re looking for a bare-bones checking account, consider the Huntington Asterisk-Free Checking Account. There is no minimum deposit requirement and no monthly fee. You won’t earn interest, but this is common for free accounts.

If you’re looking for a bit more from your account, there’s the Huntington 5 Checking Account. This account requires a minimum deposit of $25, but it earns interest at a rate of 0.15%. You also save some money because Huntington National Bank will waive the first five out-of-network ATM fees if you have this checking account. There is a monthly fee of $5, which you can waive if you have at least $5,000 on deposit with the bank (not necessarily just in this account).

For those who will have more than $25,000 on deposit with the bank, consider the Huntington 25 Checking Account. This account is similar to the Huntington 5 Checking Account but it earns interest at a rate of 0.25%. The bank also waives all out-of-network ATM fees. With all of these accounts, new customers can apply for a debit card.

Best Savings Accounts: PNC Bank

PNC Bank

PNC Bank has two savings accounts available. One is designed for children, but the other, the PNC Standard Savings account, is a solid choice for most customers. It’s base APY is just 0.01%, but you can raise that by linking it to a PNC checking account. If you can do that, the APY goes up to 0.05%. (You can also earn the higher rate by making at least five purchases each month with a PNC credit or debit card.) If you qualify for that higher rate and you have at least $2,500 in your account, you will earn an even higher APY of 0.10%. So while the base APY isn’t great, it isn’t that difficult to earn a higher rate.

In addition to the potentially high rates from the savings account, PNC Bank is a large, national bank that can meet all of your financial needs. There are credit cards, loans, retirement accounts, brokerage accounts and a variety of business accounts. Accessibility shouldn’t be a problem either as PNC Bank has more than 60 branches in Indianapolis and about 2,500 locations across the country.

Best Customer Service: Regions Bank

Regions Bank

Of the Indianapolis banks we considered, Regions Bank has the highest customer satisfaction rating. According to J.D. Power’s U.S. Retail Banking Satisfaction Study, Regions Bank offers one of the best banking experiences in the Midwestern U.S. This study considers multiple factors, including a bank's ability to handle customer issues, the frequency of its branches, its fee schedules and its product offerings.

Regions has more than just strong customer service, though. It offers a full suite of banking services and accounts. That includes everything from standard accounts to help with retirement planning and wealth management. You can also find branches and ATMs even if you travel outside of Indianapolis or Indiana in general. There are locations in 15 states across the South and Midwest.

Best Student Accounts: First Financial Bank


When it comes to finances, one of the biggest priorities for high school and college students is to build savings. This is tough to do with some banks, though, because they charge a variety of fees. However, you can avoid monthly fees with the f1RST® Everyday Student Savings from First Financial Bank. This savings account requires just $25 to open and earns interest at an APY of 0.05%. This rate, in and of itself, is higher than at many banks. Throw in the lack of fees and this account is a great option for young savers. It’s an option that can compete with the best savings accounts for students out there.

You can also take your money on the go by pairing the savings account with the f1RST® Choice Student Checking account. With a $50 opening deposit you get a free debit card and don’t have to worry about monthly service fees.

First Financial Bank also makes it easy to bank online and through its mobile app. You can deposit checks, pay bills and the bank even allows you to receive text (SMS) updates about your account. This is great for a college student who is on the go or even away at college.

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