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Best Banks In Oklahoma

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by Derek Silva Updated

Finding the Best Banks in Oklahoma

Choosing the best bank in your area is a challenge. There are many banks to choose from in Oklahoma, all of which have multiple types of accounts. To help you decide which banks offer the right features and benefits for you, SmartAsset created this list of the best banks in the state. Continue reading to see the most accessible banks and to see which banks offer the best accounts.

Bank APY Minimum Deposit Highlights
BOK Financial BOK Financial logo Read More 0.05% $50
  • Best National Bank
  • Higher rates than most national banks
BancFirst BancFirst logo Read More 0.4% $100
  • Best Regional Bank
  • More than 100 branches in the state
RCB Bank RCB Bank logo Read More 2.01% $100
  • Best Free Checking Account
Arvest Bank Arvest Bank logo Read More 0.3% $100
  • Best Savings Account
  • Best Customer Service

How We Determine the Best Banks in Oklahoma

SmartAsset’s banking experts found the 15 most popular banks in Oklahoma, based on the number of branches in the state. 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: BOK Financial

BOK Financial

BOK Financial operates in eight states under seven brand names. However, its headquarters are in Oklahoma and you can find it in the state as The Bank of Oklahoma. (BOK stands for Bank of Oklahoma.)

There more than 50 branches in the state but most are in the major cities of Tulsa and Oklahoma City. If you live near a branch, BOK Financial could be a good choice, because it offers numerous financial services. It has standard savings accounts, money market accounts (MMAs), checking accounts and certificates of deposit (CDs). While all large banks have these accounts, the rates are typically quite low. BOK Financial has decent rates (though you may want to look elsewhere for better CD rates).

Beyond simple banking, you can also find investing services to help you can also get loans and wealth management services. If you need some extra guidance on the best ways to bank, you can talk to a financial advisor.

Best Regional Bank: BancFirst


BancFirst is one of the largest banks in Oklahoma with more than 100 local branches. That’s more than any other bank. If you live near a local branch, you may want to consider opening a savings account. The APY is higher than at many other banks and is even higher than some banks’ rates for MMAs.

The other nice thing about BancFirst is the lack of fees. The fees that do exist are either low or you can waive them. For example, the BancFirst Savings account has a monthly fee that you can waive just by maintaining an account balance of $100. Pair this, and its high APY, with a free checking account and you have your basic banking needs covered.

You can also get loans, multiple types of insurance and business accounts through BancFirst.

Best Free Checking Account: RCB Bank

RCB Bank

The best account from RCB Bank, the my Interest Checking account, offers a 2.01% APY. That’s an incredibly high rate considering that most checking accounts don’t earn interest at all. However, there is a caveat. You need to meet certain requirements to earn that high rate. Once you open an account, which requires a deposit of at least $100, you need to make at least 10 debit purchases per month, have at least one automatic withdrawal or deposit and elect to receive electronic statements.

If you don’t use a debit card regularly, this account may not be right for you. Though it may also be worth making the 10 monthly purchases to earn the high APY.

RCB Bank also offers some useful accounts and services beyond its checking account. For example, it offers an account designed to help you save for your child’s college. College savings plans are not available from every bank but they are a great way to save toward education. RCB Bank also offers retirement accounts, mortgages, investment help and access to wealth advisors.

Best Savings Account and Best Customer Service: Arvest Bank

Arvest Savings Account

The standard savings account from Arvest bank is a great option because of its high APY (0.30%) and low monthly fee. The fee is just $2 and you can waive it by maintaining a balance of $100. You can also earn a slightly higher rate if you couple your account with a free checking account. In particular, the Free Blue™ Checking account provides unlimited check writing, a debit card and $400 of overdraft protection, all for no monthly fee.

If you’re looking for other ways to save, Arvest Bank offers CDs with competitive rates. Just make sure to ask at your local branch about the current special CDs, because representatives there will have the highest rates.

And even though Arvest Bank is local to Oklahoma, it offers many more services than some other local banks. There are a few credit cards available and the bank also provides help with financial planning and insurance products.

According to J.D. Power’s U.S. Retail Banking Satisfaction Study, Arvest Bank also has one of the highest consumer satisfaction ratings in the entire country. This study takes multiple factors into account, like a bank's ability to handle customer issues, the frequency of its branches, its fee schedules and its product offerings.

Tips for Finding the Best Bank Accounts

  • Before you open any accounts, you should consider your financial goals. The best bank accounts will be the ones that most help you to meet those goals. If you aren’t sure which accounts or banks can do that, consider talking with a financial advisor. An advisor is an expert who can give you guidance based on your specific financial situation.
  • It’s great to bank at a branch near you, but you can probably find higher rates online. Regardless of where you live, here are some of the best high-interest savings accounts.
Save more with these rates that beat the National Average
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Best Places to Save

SmartAsset’s interactive map highlights the places in the country where people have the opportunity to save money. Zoom between states and the national map to see the best places to save.

Rank County Median Household Income Cost of Living Purchasing Power Estimated Tax Rate

Methodology Where you live can have a big impact on how easy it is to save money based on several regional factors. Our study aims to find the most suitable places for people to save based on median household income, average living expenses and income tax burden.

First, we calculated the average cost of living in each county for a household with two adults (one working). We then created a purchasing power index for each county. This reflects the counties with the highest ratio of household income to cost of living.

To better compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $50,000 annual income in each location. Next, we created an effective tax rate index for each county, which reflects the counties with the lowest ratio of income taxes to the assumed $50,000 annual income.

Finally, we calculated the weighted average of the indices to yield an overall best places to save score. We used a three-fourths weighting for purchasing power and a one-fourth weighting for tax rates. We indexed the final number so higher values reflect places that are better to save.

Sources: US Census Bureau 2016 5-Year American Community Survey, MIT Living Wage Study