When it comes to managing your finances, selecting the right bank is paramount. In Illinois, a state with a diverse financial sector, choosing the best bank is essential for effective financial management. In this article, we will explore key factors to consider when choosing a bank in Illinois and highlight some of the best bank rates currently available in the state.
Before diving into the process of selecting a bank, it's important to define your financial goals. Assess whether you need basic banking services, specialized accounts, loans, credit cards, or investment opportunities. Understanding your objectives will help you narrow down your options and find a bank that aligns with your specific needs.
The reputation and stability of a bank are vital considerations. Look for banks with a strong presence in Illinois, a history of reliability, and positive customer feedback. A financially secure bank provides peace of mind and ensures the safety of your funds.
Consider the range of services offered by each bank. Assess whether they provide convenient online and mobile banking options, accessible ATM networks, and branch locations that suit your preferences. Additionally, look for value-added services such as financial planning assistance, wealth management solutions, or educational resources that can contribute to your financial success.
Banks often have different fee structures, including maintenance fees, ATM fees, overdraft fees, and transaction charges. Carefully review the fee schedules of potential banks to ensure they align with your banking habits and minimize unnecessary costs. Some banks may offer fee waivers or reduced fees for certain account types, so be sure to review the terms and conditions.
Interest rates play a significant role in optimizing your savings and reducing borrowing costs. Look for banks that offer competitive interest rates on savings accounts, certificates of deposit (CDs), personal loans, and mortgages. Higher interest rates can help grow your savings, while lower rates can save you money on loans. Pay attention to any associated terms and conditions, such as minimum balances or introductory rates.
With a strong presence in Illinois, Chase Bank offers competitive interest rates on savings accounts, CDs, and mortgage loans.
A trusted financial institution in Illinois, BMO Harris Bank provides competitive rates on savings accounts, CDs, and personal loans.
Known for its community focus, Wintrust Bank offers competitive interest rates on savings accounts, CDs, and mortgage loans.
Known for its community focus, Wintrust Bank offers competitive interest rates on savings accounts, CDs, and mortgage loans.
With a wide range of banking products, First Midwest Bank offers competitive rates on savings accounts, CDs, and personal loans.
Selecting the best bank in Illinois involves careful consideration of your financial goals, the bank's reputation and stability, the range of services offered, fee structures, and competitive interest rates. By conducting thorough research and assessing your needs, you can find a bank that provides convenience, security, and favorable rates. Regularly reviewing your banking requirements will ensure that your financial goals continue to be met effectively.
Show all 68 domestic offices, branches & locations
ID | Branch Name | Branch Address |
---|---|---|
1 | 13901 SOUTH BELL ROAD BRANCH | 13901 S Bell Rd, Homer Glen IL 60491 |
2 | 2222 CHESTNUT AVENUE BRANCH | 2222 Chestnut Aveneu, Glenview IL 60025 |
3 | 7020 COUNTY LINE ROAD BRANCH | 7020 S County Line Rd, Burr Ridge IL 60527 |
4 | ALTON NORTHPORT BRANCH | 4415 Martin Luther King Dr, Alton IL 62002 |
5 | BANK WEST FACILITY | 2011 W Springfield Ave, Champaign IL 61821 |
6 | BAYLESS BRANCH | 4226 Bayless Ave, Saint Louis MO 63123 |
7 | BELLEVILLE - WEST MAIN CENTER/CBG | 5720 W Main St, Belleville IL 62226 |
8 | BLOOMINGTON CITIZENS SAVINGS BRANCH | 2101 N Veterans Pkwy, Bloomington IL 61704 |
9 | Busey Bank | 405 N William Kumpf Blvd, Peoria IL 61605 |
10 | Busey Bank | 100 W University Ave, Champaign IL 61820 |
11 | Busey Bank | 1400 Heritage Dr, Morris IL 60450 |
12 | Busey Bank | 401 S Main St, Naperville IL 60540 |
13 | BUSEY BANK, NA BRANCH | 7980 Summerlin Lakes Dr, Fort Myers FL 33907 |
14 | BUSEY E-BANK BRANCH | Busey.Com, Champaign IL 61820 |
15 | CAPE CORAL BRANCH | 2524 Del Prado Blvd S, Cape Coral FL 33904 |
16 | CARMEL BRANCH | 11550 N Meridian St, Carmel IN 46032 |
17 | CHAMPAIGN FACILITY | 909 W Kirby Ave, Champaign IL 61821 |
18 | CHESTERFIELD BRANCH | 17701 Edison Ave, Chesterfield MO 63005 |
19 | CLAYTON BANK BRANCH | 190 Carondelet Plaza, Clayton MO 63105 |
20 | COLLINSVILLE BRANCH | 101 S Morrison Ave, Collinsville IL 62234 |
21 | DEBALIVIERE BANK BRANCH | 415 De Baliviere Ave, Saint Louis MO 63112 |
22 | DIAMOND FACILITY | 2315 E. Division Street, Diamond IL 60416 |
23 | DOWNTOWN BANK BRANCH | 900 Olive St, Saint Louis MO 63101 |
24 | E-BANKING FLORIDA BRANCH | 7980 Summerlin Lakes Dr, Fort Myers FL 33907 |
25 | E-Banking Indiana Branch | 11550 N Meridian St, Carmel IN 46032 |
26 | E-Banking Joliet Branch | 2801 Black Rd, Joliet IL 60435 |
27 | E-BANKING MACON COUNTY BRANCH | 130 N Water St, Decatur IL 62523 |
28 | E-BANKING MCLEAN COUNTY BRANCH | 2101 N Veterans Pkwy, Bloomington IL 61704 |
29 | E-Banking Metro East Region Branch | 330 W Vandalia St, Edwardsville IL 62025 |
30 | E-Banking Missouri Branch | 12300 Olive Blvd, Saint Louis MO 63141 |
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Data by FIDC (The Federal Deposit Insurance Corporation), report date: 2023-06-30
Program | Rate | Bank |
---|---|---|
1 Yr | 5.36% | CIBC Bank USA: 5.36% APY, $1,000 minimum deposit |
1 Yr | 5.35% | Limelight Bank: 5.35% APY, $1,000 minimum deposit |
1 Yr | 5.27% | TAB Bank: 5.27% APY, $1,000 minimum deposit |
1 Yr | 5.26% | First Internet Bank of Indiana: 5.26% APY, $1,000 minimum deposit |
1 Yr | 5.25% | Bread Savings: 5.25% APY, $1,500 minimum deposit |
1 Yr | 5.20% | Bask Bank: 5.20% APY, $1,000 minimum deposit |
1 Yr | 5.15% | LendingClub Bank: 5.15% APY, $2,500 minimum deposit |
1 Yr | 5.15% | Popular Direct: 5.15% APY, $10,000 minimum deposit |
1 Yr | 5.00% | Barclays Bank: 5.00% APY, $0 minimum deposit |
*CD Rates are subject to change without notice and may vary from bank to bank and branch to branch. Please contact your local bank for updated bank CD rates.
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Frequently asked questions (FAQs) related to online banking and best savings accounts
Frequently asked questions (FAQs) related to bank credit cards and credit card offers
Frequently asked questions (FAQs) related to bank mortgage rates
Frequently asked questions (FAQs) regarding personal loans
Frequently asked questions (FAQs) for bank branch locations
Frequently Asked Questions (FAQs) for Mobile Banking Apps