The Best Checking Accounts in Indiana for 2024

Explore the best checking accounts in Indiana. Compare the benefits of traditional and online banks, focusing on fees, interest rates, and customer service to make an informed decision for your finances.
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For some consumers, a checking account is more than just a place to put their money.

Banks can be part of a larger experience and relationship with their financial institutions. That’s why local banks may be an attractive option for some people.

If you’re curious about banks in Indiana and the checking accounts they offer, continue reading.

You’ll find information on specific banks and a look at the pros and cons of doing business with them. We also offer insight if you’re considering online checking accounts.

Compare Indiana and Online Checking Accounts

If you’re trying to choose between a traditional bank in Indiana or an online bank, weighing the features of both is essential.

Ask yourself specific questions as you decide, such as, do you care about making face-to-face transactions? Do you want to minimize fees and maximize the balance in your checking account as much as possible? Are you comfortable with doing business online? Are your banking needs basic or more complex?

Compare Traditional Indiana Banks with Online Banks

Best Checking Accounts in Indiana

Shopping around for a bank is always a good idea to get a sense of what’s out there.

The following are some of the best checking accounts available in Indiana.

Community First Bank of Indiana

All checking accounts offered by Community First Bank of Indiana provide free perks, including as access to online banking, debit cards, a mobile banking app, and online statements that include check images.

The bank offers a free community checking account with no minimum balance and an interest-bearing checking account with no minimum balance requirement or monthly service charges. Customers receive a free gift no matter which type of checking account they open at Community First Bank of Indiana.

The Hometown Savings Bank

The Hometown Savings Bank offers various checking accounts, including its Checking Plus account, that can be opened with a $50 deposit. This account has no monthly maintenance charge, and the first check order is provided for free.

If you want an interest checking account, the company’s NOW Checking account has interest compounded daily and credited monthly to your account.

You can open this account with $1,000, and you will be charged a $5 maintenance fee if your account drops under $1,000 at any time during the statement cycle.

Farmers State Bank

Farmers State Bank has several checking accounts you can open with a $50 minimum deposit. These accounts offer free online, telephone, and mobile banking access, bill pay services, and a debit card.

The bank’s 50 Advantage Interest Checking account is for consumers over 50 years old who want to earn a competitive interest rate on their accounts. There is no minimum balance requirement for this account and no monthly fee.

Farmers State Bank also has interest checking with competitive rates that increase when you keep at least $1,500 in your account. A $6 monthly fee is charged if your account falls below $1,500.

Explore Top Checking Accounts

Many banks offer checking accounts in Indiana, and there’s robust competition to offer the best rewards and the lowest or no fees. Our listing below will help you find the best checking account for your financial success.

Pros and Cons of Local Banks

Do you need help determining whether or not a checking account in Indiana is best for your financial future? Let’s examine the pros and cons of doing business with local banks.


  • When you do business with local banks, your money returns to the community.
  • Customers are treated like human beings, not numbers, so employees may have relationships with customers and their families for years.
  • These banks often help boost an area’s economy by providing funds for small businesses.


  • May not offer access to banking apps and other online services.
  • May have low yields on savings accounts.
  • May have fewer options for the types of accounts consumers can access.

Online Checking for Indiana Residents

Are you considering opening an online checking account but are unsure if it is the right choice for you? If so, below is information about the online checking accounts available for Indiana residents to give you an idea of what to expect when you do business with them.


SoFi’s checking account is versatile enough that it works for regular customers and small business entrepreneurs. It offers no account fees and automatic reimbursement for all ATM fees, making it highly accessible for frequent travelers.

Its mobile banking features include check deposits, real-time spending notifications, and freeze card options, enhancing security and convenience.

Entrepreneurs benefit from the account’s integration with other SoFi financial products, such as loans and investments, providing a holistic financial management platform.

The account also supports features like bill pay and money transfers, streamlining financial operations for busy professionals.


Discover’s online checking account offers several unique features that are ideal for modern banking needs.

It includes 1% cash back on up to $3,000 in debit card purchases monthly and no fees whatsoever—no monthly, overdraft, or minimum balance fees.

Account holders enjoy access to over 60,000 fee-free ATMs nationwide. Additional conveniences include the option to get paid up to two days early with direct deposit, the ability to freeze your debit card, and seamless integration with digital wallets like Google Pay and Apple Pay for secure and fast transactions.


Axos Bank offers a variety of personal checking accounts, such as Essential Checking, Rewards Checking, and CashBack Checking, each designed to suit different financial needs with zero monthly fees.

The accounts feature unlimited domestic ATM fee reimbursements, making them ideal for frequent ATM users. Additionally, the Rewards Checking account allows customers to earn up to 1.00% APY on their balances, allowing them to grow funds while managing daily expenses.

Axos also integrates advanced digital banking tools, enhancing user experience with features like mobile check deposit and real-time alerts.

Pros and Cons of Online Checking Accounts

Local banks have several benefits, but consumers can also have a good experience with online banks.

The following are some pros and cons of online banks to give you an idea of how they may or may not be able to meet your needs.


  • Online banks allow you to access your account information online at any time conveniently, so you don’t have to wait for bank statements to be generated to review what’s going on with your account.
  • Online banks generally charge lower maintenance, overdraft, and foreign transaction fees.
  • Interest-bearing accounts with online banks tend to offer higher rates.


  • Online banks may not be the best choice for those uncomfortable in virtual environments since there are no physical branches.
  • You may not be able to make international transactions with certain online banks.
  • The customer service provided by online banks may feel impersonal.

What to Look for When Choosing a Checking Account in Indiana

Everyone interested in a checking account in Indiana has different priorities, from low or no fees to online banking opportunities. 

What’s important to you may not be important to someone else, so consumers should all consider the features different banks offer. 

Below, we look at some features to give you an idea of what makes a good checking account versus a bad one.

Monthly Fees

Depending on where you open a checking account in Indiana, you may or may not be charged monthly maintenance fees. Monthly maintenance fees for checking accounts can range from $0 to $12 and even higher in some cases.

While some banks don’t charge monthly fees, others may charge high ones, so it’s essential to look around for the lowest fee.

Other Fees

Do you make a lot of withdrawals on your checking account? Do you write a lot of checks? If so, you may want to pay attention to different banks’ fees. In some cases, you may be charged for writing more than an allotted number of checks each month.

In other cases, you may be charged fees if you don’t use ATMs in a bank’s network. The best checking accounts will not charge any of these fees, but if you can’t find one, keep your eyes open for the lowest fees.

ATM and Branch Access

You may prefer to do your banking in person at a branch, or you want to access your money at an ATM easily. Whichever way you prefer, you should check to make sure your bank has a solid network of ATMs or belongs to a large ATM network.

An ATM network is a system of interconnected ATMs that allows customers to perform transactions such as withdrawals, deposits, and fund transfers from different locations.

This network can be operated by a single bank or a group of financial institutions providing mutual access to their ATMs. It enables banks to share transaction data and process user requests in real time.

ATM networks are used by bank customers who need to access their bank accounts to manage cash transactions conveniently.

Whatever your preference, the best checking accounts will give you as much easy access to your funds as possible.

Interest Rates or Bonuses

Some checking accounts have rewards and perks, such as earning interest or cash-back bonuses on debit card purchases.

A rewards checking account offers incentives such as cash back for purchases, points, or higher interest rates based on account usage. It functions like a standard checking account but with added benefits for specific activities like making purchases with a debit card, maintaining a minimum balance, or executing a set number of transactions.

Users typically benefit from these rewards by using their debit card frequently or fulfilling specific criteria set by the bank, making everyday banking more lucrative.

You’ll want to take a close look at any checking accounts that have this feature. While these types of deals aren’t common with checking accounts, more companies recognize the need to offer them to attract consumers.

Mobile Banking Apps

The more features a mobile banking app has, the better.

Mobile banking apps are digital tools that allow users to manage their bank accounts from their smartphones.

These apps enable a range of financial activities, including checking account balances, transferring funds, paying bills, and depositing checks via photo capture.

They connect securely to your bank’s server, allowing you to conduct banking transactions remotely. Users typically need to download the app and log in using secure credentials.

These apps offer convenience, accessibility, and enhanced features like instant transaction notifications, making them popular among tech-savvy customers.

In some cases, you may only have basic features on a mobile banking app, such as the ability to check your account. The best banks will have more robust options like peer-to-peer transfer services and financial management tools.

What to Know About Indiana Checking Accounts

  • Indiana banks are not obligated to cash any checks over six months old unless it’s a certified check.

  • A checking account that has not been used for more than one year and a savings account that has not been used for three years are considered dormant. Indiana banks can charge a monthly fee of $.75 on dormant accounts unless the balance is less than that. In that case, the bank cannot charge more than the amount in the dormant account.

  • Indiana banks provide their customers with online access to check images. Banks can retain paper checks for 30 days and then destroy them.
About Author
Kenya McCullum
Kenya McCullum is a freelance writer with expertise in personal finance. She writes about personal finance, education, and other topics that are important to consumers.
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