Best Banks in Louisiana for 2024

Louisiana is home to large international and small local banks serving selected communities. The banking services available are as diverse as Louisiana’s cultural heritage.

Whether in Baton Rouge, New Orleans, Lafayette, Shreveport, Lake Charles, or anywhere else within state lines, you’re bound to find a bank or credit union that fits like a glove.

9 Best Banks in Lousiana

Here are the top banks in Louisiana right now.

1. Ally Bank ally bank Logo

Best For: High APYs

Ally Bank is an online bank with no physical branches. These lower overheads translate to better rates than those many traditional brick-and-mortar banks offer.


Ally Bank’s only savings product is its Online Savings Account. It has no monthly maintenance fees or minimum opening deposit requirement.

The APY (Annual Percentage Yield) is a whopping 4.35%. Account features include Buckets and Surprise Savings.

Ally Bank also offers an Interest Checking Account. The account has no monthly maintenance fees and no minimum balance requirements. It also offers an APY of 0.15% on balances less than $15,000 and fee-free withdrawals from over 43.000 Allpoint ATMs. This online checking account includes mobile deposit, eStatements, CoverDraft, and early access to direct deposit.

Ally Banks offers CDs, MMAs, mortgages, auto loans, personal loans, and investment options. Ally Bank doesn’t offer business banking.


  • Higher than average APY rate
  • No account minimums
  • No monthly fees


  • No branches
  • Charges fees for outgoing wires


2. Capital One capital one Logo

Best For: Kid and teen bank accounts

Capital One is a national bank serving customers across the U.S.

While it’s mostly known for its credit cards and auto loans, you’ll find that it provides a wide range of banking products and services to suit different needs.


Capital One offers one checking account called 360 Checking Account. It has no monthly fees and offers mobile deposits and early pay, among other things. You can also deposit cash at any CVS or Walgreens location and withdraw money from over 70,000 ATMs.

Capital One also has a 360 Performance Savings Account if you’re looking to start saving. The account has a 4.35% APY rate, making it one of the highest interest rates paid on a savings account. It has no monthly fees or minimum deposit requirement and can be opened online in as little as five minutes.

Capital One offers CDs (Certificate of Deposit), credit cards, kids’ and teens’ bank accounts, and auto loans. You’ll also find business and commercial banking products.


  • High APY on savings
  • Accounts specifically for kids and teens
  • No monthly fees


  • No mortgage loans
  • No money market accounts


3. Gulf Coast Bank gulf coast bank Logo

Best For: Large selection of accounts

Gulf Coast Bank & Trust Company is a regional bank serving customers in southeastern Louisiana, including Baton Rouge and New Orleans. Its primary focus is being innovative while retaining the old-fashioned banking values of a local bank.


Gulf Coast Bank has several specialized savings accounts, but their Traditional and Interest Savings accounts are designed for day-to-day use.

The Traditional Savings account has no monthly fee and requires an initial deposit of $20. APY rates vary between 0.20% and 0.50%, depending on your balance.

The Interest Savings Account charges a monthly fee that the bank will waive should you meet their requirements. The account earns up to 0.60% APY, which depends on you meeting pre-set criteria.

Gulf Coast Bank also has free, rewards, and interest-bearing checking accounts. The rewards checking account is the only one out of the three to charge a monthly maintenance fee.

All bank accounts require a minimum opening deposit of $20, while features and perks vary between accounts.

Gulf Coast Bank offers CDs, IRAs, credit cards, loans, wealth management, and business banking solutions.


  • Large selection of savings and checking accounts
  • Easy to waive monthly fees
  • Many accounts are interest-bearing


  • Low APY interest rates
  • Limited locations


4. Regions Bank regions bank Logo

Best For: 24/7 customer service

Regions Bank is a regional bank serving customers in the Midwest, South, and Texas, including Louisiana. Despite its concentrated customer base, it is still considered one of the largest banks in the U.S.


Regions Bank offers three traditional checking accounts and three tailored to specific needs. The LifeGreen Checking account (with a monthly fee of $8) is the most popular.

The bank will waive this fee when your average monthly balance reaches $1,500 or you make $500 worth of qualifying direct deposits. The minimum opening deposit requirement is $50.

Regions Bank also has a selection of savings accounts. The Regions LifeGreen Savings has an opening deposit requirement of $50 and requires you to have a qualifying checking account. This account does not have a monthly fee.

The Regions Savings account, on the other hand, also requires a $50 opening deposit but has a monthly fee of $5.00. You can avoid this fee by maintaining a daily balance of at least $300. The APY is 0.01% on all balances.

Regions Bank also offers CDs, prepaid cards, credit cards, loans, lines of credit, mortgages, investment options, small business and commercial banking products.


  • Large selection of accounts
  • 24/7 customer service
  • Easy to waive fees


  • Low APY rate
  • Charges excessive withdrawal fee


5. Chase Bank chase bank Logo

Best For: Bank promotions

Chase Bank is the largest bank in the U.S. by asset value and number of branches. As a full-service bank, it offers all the financial products and services you’ll find at any bank, and new customers can get a bonus of up to $300.


Chase offers three everyday checking accounts. New customers get a welcome bonus of up to $300 – depending on which account you choose and subject to meeting qualifying criteria.

Depending on the account, monthly service fees vary between $4.95 and $25. Standard features across the board include access to more than 16,000 ATMs and more than 4,700 branches, autosave, Zelle, and a free minors account.

Chase also offers a savings account called Chase Savings. It has a monthly fee of $5.00, which the bank will waive when you meet the qualifying criteria. The APY is 0.01% across all balances. Account features include Automatic Savings Program, account alerts, and mobile and online banking.

Chase offers CDs, credit cards, auto loans, mortgages, and investment options. They also have business and commercial banking services.


  • Large network of branches
  • Great promotions
  • Easy to waive fees


  • Low APY rate
  • Charges a high overdraft fee


6. Red River Bank red river bank Logo

Best For: Low opening deposit requirements

Red River Bank is a community bank based in Louisiana. This state bank is incorporated as a Louisiana banking corporation by the Louisiana Office of Financial Institutions and is FDIC-insured.


Red River Bank offers quite a few excellent checking accounts. The Totally Free Checking Account is one such account that has no monthly service charges and no minimum balance requirements. The minimum deposit required to open this account is $50. The bank also offers interest-bearing checking accounts with waivable monthly fees.

Red River Bank also offers general and specialized savings accounts. The Personal Savings account has no monthly charges and requires a $100 opening deposit. You get three free monthly withdrawals and interest on balances over $1.00. Other options are available; however, you’ll find limited information on their website.

Red River Bank offers CDs, IRAs, loans, credit cards, and investment options. They also offer commercial banking products.


  • Large selection of accounts
  • Minimal or low fees
  • Low opening deposit requirements


  • Some products require a branch visit to open
  • APYs aren’t very competitive


7. CIT Bank cit bank Logo

Best For: Avoiding monthly fees

CIT Bank is a division of First Citizens BancShares, which it acquired in January 2022. It operates several branches at the formerly Mutual of Omaha Bank, which First Citizens acquired in 2020.


CIT Bank offers one checking account called eChecking. This online checking account has no monthly or overdraft fees and pays interest. APY is paid out at 0.10% on balances of up to $25,000 and 0.25% if your balance exceeds this threshold.

CIT Bank also offers two savings accounts – Savings Connect and Savings Builder. Both accounts have a minimum opening deposit requirement of $100 and no monthly maintenance fees. The Connect account has an APY of 4.65%, while the Builder account has an APY rate of 1.00%.

CIT Bank also offers CDs, money market accounts, and home loans.


  • High APY rate
  • No monthly fees
  • High APYs on some accounts


  • Limited selection of products and services
  • No cash deposits


8. Hancock Whitney Bank hancock whitney Logo

Best For: Credit score tracking

Hancock Whitney Bank is a regional bank operating in several states, including Louisiana. It is headquartered in Mississippi and has been operating for over a century.


Hancock Whitney Bank offers three personal checking accounts. Monthly service charges range between $7.00 and $20.00 and come with different fee-waiving criteria.

The minimum deposit required to open a checking account is $25. Some features and perks include credit score tracking, direct deposits, ATM fee rebates, and free wire transfers – depending on which account you choose.

Hancock Whitney Bank also offers an interest-bearing savings account called Savings Builder. It has a minimum opening deposit requirement of $25 and a monthly service charge of $5.00. The bank will waive the fee if you link it to a qualifying checking account or maintain a minimum balance of at least $200.

Hancock Whitney Bank also offers specialized savings accounts, CDs, money market accounts, loans, mortgages, credit cards, insurance, investment services, and business and commercial products.


  • A wide range of products and services
  • Easy to waive fees
  • Offers unique features, like credit score tracking


  • APY rate difficult to find on the website
  • Monthly fees are high if you can’t waive them


9. First Horizon Bank first horizon Logo

Best For: Digital banking

First Horizon is a regional bank serving the Southeast. Its headquarters are in Memphis, Tennessee, and it operates 250 locations in the states it serves.

First Horizon offers three checking accounts. FirstView Checking is the most basic and comes with no monthly fees and fee-free withdrawals from over 600 ATMs. It has a minimum opening deposit requirement of $50.

If you’re after more features, you can opt for SmartView Checking or TotalView Checking. These two accounts have a monthly fee, which can be waived and earn bonus interest when meeting qualifying criteria.

First Horizon Bank also offers a Traditional Savings account. It has a quarterly maintenance fee of $5.00, which the bank will waive when maintaining a daily balance of at least $250. It earns an APY of 0.30% and has an opening deposit requirement of $50.

First Horizon Bank also offers CDs, MMAs, mortgages, loans, customizable debit cards, and credit cards, as well as small business and commercial products.


  • Good account selection
  • Low minimum deposit requirements
  • Robust digital banking


  • APY rate is relatively low
  • Most accounts have fees (waivable)


How to Choose the Best Bank in Louisiana

At, we’re committed to providing consumers with the resources they need to select a bank or credit union.

  • Understand different types of banks: You have access to traditional banks, online banks, credit unions, and neobanks. It’s important to understand the differences between them and determine which type of institution aligns best with your preferences.
  • Choose the right account: Checking, savings, money market, and certificate of deposit accounts are the most common types of bank accounts. Understand what each offers and choose a bank with the type of account(s) you need.
  • Look for low-fee banks: Account fees can add up quickly. As you compare bank accounts, look for an account that doesn’t charge unavoidable monthly maintenance fees, overdraft fees, and ATM fees.
  • Consider branch and ATM access: If having access to branches matters to you, choose a bank with physical locations. Regardless, you should prioritize banks that have a vast ATM network or reimburse ATM fees.
  • Compare account features: Determine which features you’re looking for. A few common bank account features to consider are interest, cashback, mobile features, cash deposits, and minimum account balance requirements.
  • Check out reviews and ratings: It’s crucial to pick a reputable bank. To get an idea of a bank’s customer experience, you can read expert reviews and look to sources like TrustPilot, the Better Business Bureau, and J.D. Power.
  • Read the fine print: Don’t sign up for an account without understanding the terms and conditions. Make sure the account is FDIC or NCUA insured and get a sense of its requirements, fees, and expiration dates for bank bonuses.
  • Look at the bank’s additional products: If you want to manage all of your finances under one roof, look into each bank’s additional products. A lot of banks also offer credit cards, wealth management, investment accounts, and loans.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews. We evaluated digital financial platforms, online banks, regional banks, and national banks with a presence in Louisiana.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore their customer service channels, hours of availability, and third-party reviews.

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