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Best Banks in Mississippi

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Finding the Best Banks in Mississippi

Mississippi is mostly home to various regional banks rather than big, national names. Still, these regional banks provide a ton of branches throughout the state for easy in-person access. In addition to convenience, we look at each bank’s account offerings to help you find the best savings accounts, checking accounts and more from banks in your area.

Bank APY Minimum Deposit Highlights
Ally Bank Ally Bank logo Read More 2.20% $0
  • The Top Savings Account
  • High APY
Regions Bank Regions Bank logo Read More 0.01% $50
  • Best National Bank With Branches in Mississippi
  • Best Customer Service
  • 126 locations throughout Mississippi
Trustmark Bank Trustmark Bank logo Read More 0.10% $50
  • Best Regional Bank
  • 124 locations throughout Mississippi 
CIT Bank CIT Bank logo Read More 2.45% $100
  • Best Savings Account Rate
  • One of the best APYs on the market
Renasant Bank Renasant Bank logo Read More 0.96% $50
  • Runner-up for Best Savings Account Rate
  • Benefits lower balances
Community Bank of Mississippi Community Bank of Mississippi logo Read More 0.00% $50
  • Best Free Checking Account
  • Unlimited check-writing 
Renasant Bank Renasant Bank logo Read More 1.51% $50
  • Best High-Yield Checking Account
  • Benefits lower balances 
Regions Bank Regions Bank logo Read More 0.01% $50
  • Best for Students
  • No monthly fee

How We Determined the Best Banks in Mississippi

To find the best banks in Mississippi, we started with the top 15 banks ranked by branch numbers. The bank with the most branches in the state ranked first. Then we collected account and bank data on each of these banks, including rates, fees, minimum balance requirements and more. We used this information to determine the best banks and accounts for Mississippi residents. 

Ally Bank: The Top Savings Account

Ally Online Savings
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Our Rating: 5/5
How we calculated this rating

If you’re in the market for a savings account, Ally’s Online Savings Account has done more to separate itself from the pack than most. For starters, account holders will avoid all fees and minimums entirely. The headlining benefit of this account, though, is its 2.20% APY, which compounds daily. At this rate, you could stand to gain $900 in interest on a $10,000 deposit, if you were to let it mature for four years.

Checking accounts aren’t usually known for their interest rates, but the Interest Checking Account from Ally breaks that stereotype. If your minimum daily balance is lower than $15,000, your rate will be 0.10%. Should you get above that benchmark, your rate will consequently jump to 0.60%. Every new account comes with a free debit card you can make purchases with. When it comes to cash withdrawals, though, use your card at any of the Allpoint ATM network’s 55,000 machines, for free.

Ally’s mobile app has a plethora of perks that customers will likely find extremely beneficial. Principal among these are mobile check deposit, online account statements and an ATM locator. You can even send and receive money from friends and family through Zelle®. Between the Apple and Android reviews of the app, it has been rated 4.35 stars out of 5.

Best National Bank With Branches in Mississippi & Best Customer Service: Regions Bank

Regions Bank

Regions Bank can offer Mississippi residents the easiest access to a branch with 126 locations throughout the state. The bank maintains locations in 14 other states as well: Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Missouri, North Carolina, South Carolina, Tennessee and Texas. So when you’re visiting nearby states, you can still bank in-person. 

You can open a variety of Regions bank accounts if you live in its service areas. The bank offers three different savings accounts, certificates of deposit (CDs) ranging all the way to 72 months, two money market accounts and six checking accounts. With all these options, you can find an account that works best with your finances whether you’re looking for a free checking account or a long-term CD. Just be careful of the bank’s low interest rates, as they won’t boost your savings too much. 

Regions Bank also offers some of the best customer service in the Southeastern region, as well. If you need to contact the bank, you can find different phone numbers for different departments and needs. That way, you can more quickly speak to the correct representative rather than going through an automated phone tree. You could also contact the bank over email, social media and live chat. Just be careful about sending personal and account information over these methods of communication. 

Best Regional Bank: Trustmark Bank

Daily Interest Savings

For the next best access to your bank branch, you can turn to smaller bank Trustmark. The bank has 124 locations in the Magnolia State with more locations in nearby Alabama, Florida, Tennessee and Texas. You’ll also be able to access your accounts online and on mobile through your internet browser or Android®, iPhone® and iPad® apps. 

Trustmark offers an incredible variety of accounts. For starters, you can choose from six different checking accounts including a student account. As for savings accounts, there are two basic savings accounts, two money market accounts and even a health savings account. That gives you plenty of options for finding the right kind of account for you and your finances. Plus, while not the best rates in the industry, Trustmark offers higher rates than most big banks can offer. 

Best Savings Account Rate: CIT Bank Savings Builder Account

CIT Savings Builder

The CIT Savings Builder account is a great option regardless of whether you’re just beginning your savings journey or you’ve already begun to accumulate sizable savings. This is because the account’s impressive 2.45% APY can be had by meeting one of two specific preconditions: maintaining a balance of $25,000 or making at least $100 in deposits a month. A 1.17% APY awaits any customers that fall outside of these guidelines.

Account holders at CIT can expand their banking relationship to other types of savings products at the bank. You can pick from the following accounts:

  • Premier High-Yield Savings account
  • Money market account
  • 6-month to 5-year term CDs
  • 2-year to 5-year jumbo CDs
  • 1-year to 4-year “RampUp” CDs
  • No-Penalty/11-Month CD

As mobile banking has increased in popularity, so has customers’ demand for a strong mobile experience. CIT appears to have done this well, as Apple and Android users have rated its app at a combined 3.85 stars out of 5. Should you download the app, you’ll get perks like mobile check deposit, digital account statements, up-to-date transaction histories and the ability to send funds between your CIT accounts.

Runner-up for Best Savings Account Rate: Renasant Bank Rewards Savings Account


In addition to its great checking account, Renasant Bank also offers one of the best savings accounts for Mississippians. Just like its checking counterpart, the Rewards Savings account interest-earning system is designed to benefit those with lower balances. To earn the best rates, you’ll want to keep a low balance, make at least 10 debit card transactions (excluding ATM transactions) per qualification cycle, make at least one direct deposit or ACH transfer per cycle and receive statements electronically. 

Meeting those requirements and keeping your balance at $100,000 or below will earn 0.96% APY. Any higher balances will earn 0.30% APY. If you fail to meet those requirements, you’ll earn 0.03% APY regardless of your balance. 

There is a $10 monthly fee, although if you’re already enrolled in eStatements, you can waive the fee easily. 

Best Free Checking Account: Community Bank of Mississippi Community Checking Account

Community Checking Account

With mostly small banks to choose from, Mississippi residents may find it hard to find a free checking account with a low minimum deposit. Community Bank of Mississippi offers the best deal with its Community Checking Account. It requires a minimum deposit of at least $50 which isn’t the lowest out there but still outdoes its regional competition. Once you meet the minimum deposit, there are no more minimum balance requirements to worry about. Nor do you have to worry about a monthly fee while you have the account. 

This account includes unlimited check writing, free eStatements and free bill pay. 

Best High-Yield Checking Account: Renasant Bank Rewards Checking Account

Renasant Rewards Checking Account

With humble beginnings in 1904 in a Lee County bakery, Renasant Bank now offers some of the best bank accounts out there. For starters, check out its Rewards Checking account, which has a 1.51% APY. You will need to meet a few requirements to earn this high rate: make at least 10 debit card transactions (excluding ATM transactions) per qualification cycle, make at least one direct deposit or ACH transfer per cycle and receive statements electronically. These requirements should be easy enough for those using this account regularly. Receiving eStatements also waives the $8 monthly fee.

This high interest rate is made for those with lower balances, too. If your balance reaches higher than $25,000, your interest rate will drop to 0.03% APY. 

Best for Students: Regions Bank

Regions Bank LifeGreen Savings Account

With its LifeGreen® Checking Account For Students, Regions Bank can be great for students, especially those staying within the region. That makes for easier access to your accounts without incurring any extra ATM fees. Students will also be happy to know that Regions has great online and mobile banking offerings for more convenience and ease. 

The LifeGreen® Checking Account For Students is for students 25 years old or younger. It requires at least $50 to open, which could potentially be a high minimum for students just starting out on their own. Once you have that deposit, you’ll be good to go without the need to worry about any other balance minimums or monthly service fees. Owning this account allows you to open a Regions LifeGreen Savings Account, too, for easier savings. 

Additional SmartAsset Bank Reviews in Mississippi

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