Best Banks and Credit Unions in Illinois for 2025
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time.
These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 1/24/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or overdraft fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing of the funding which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period means the 30 consecutive calendar days between the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. SoFi reserves the right to withdraw this benefit at any time, including instances of non-repayment of negative balances or misuse of the benefit. Please see full eligibility for Overdraft Coverage.
8. 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change at any time. https://www.sofi.com/banking/#2. SoFi Bank, N.A., Member FDIC.
Earn 3.90% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 6/18/2025
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 3.85% APY* with Platinum Savings
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With a Balance of $5,000 or More*
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Earn 0.25% APY with a Balance of Less than $5k*
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$100 Minimum Deposit to Open Account
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No Account Opening or Monthly Service Fees
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CIT Bank Account is FDIC Insured
*Rate as of 9/23/25
*For complete list of account details and fees, see our Personal Account disclosures
*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.
*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
*Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
Earn 3.40% APY* with a Discover™ Savings Account
- Earn Over 5X the National Savings Average¹
- $0 Min. Balance to Earn APY
- $0 Monthly Fees & No Min. Opening Deposit
- No Overdraft Fees
- Deposits are FDIC-insured up to $250,000²
*Rates as of 9/30/2025
*The Annual Percentage Yield (APY) for the Online Savings Account as of 04/25/2025 is more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of 04/25/2025. National average is based on information regarding the top 50 banks (by deposit size) and may not include information from variations in regional pricing at such banks or information from products that may not be widely available to their customers. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. APYs are subject to change at any time.
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
In many states, local banks are popular options for their tendency to offer higher interest rates, more flexible terms and lower fees than larger national institutions. Bank officials often live within the communities they serve, giving them specific knowledge and understanding of their customers’ needs.
That's also the case for the Prairie State, where many banks — including community and regional banks — operate in the Prairie State. Money researched leading financial institutions based on their account options, fees and annual percentage yields (APYs) to identify the best banks in Illinois for 2024-2025:
- WinTrust - Best Overall
- BMO Harris - Best for Money Market Accounts
- Citi - Best for CDs
- Old National - Best for Students
- PNC - Best for Savings Accounts
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.
Best Overall: Wintrust
WinTrust is a community bank that operates over 75 branches in Illinois. It has a variety of account options, including free checking accounts, CDs and even accounts for children with low monthly fees. Through WinTrust, you can also take advantage of free financial education resources, safe deposit boxes and other perks.
WinTrust does require a minimum deposit of $100 for checking accounts, which is higher than some banks. Additionally, it doesn't disclose its APYs online; you have to contact a branch for details.
- Broad branch and ATM network
- Checking accounts without monthly fees
- Special accounts for children and seniors
- Checking accounts have a higher account minimum
- Rates not listed online
Best for Money Market Accounts: BMO Harris
BMO Harris offers APYs on its money market accounts that are significantly higher than the national average. While some banks require you to deposit thousands to open a money market account, BMO Harris has a minimum opening deposit requirement of just $25.
BMO Harris operates hundreds of branches in Illinois, so you can easily find a branch or ATM near you. However, the bank tends to offer lower-than-usual APYs on savings accounts, and most of its deposit accounts have monthly fees.
- Broad branch and ATM network
- Higher-than-average APY on money market accounts
- Low minimum deposit requirement
- Lower APYs on savings accounts
- Monthly fees apply
Best for CDs: Citi
While many banks have CDs, Citi offers several different types of CDs, including fixed-rate, step-up and no-penalty options. Plus, its promotional-rate CDs have higher-than-average APYS. The bank requires just $500 to open a CD — a lower-than-usual minimum — and you may qualify for a higher interest rate if you're an existing Citi customer.
However, the maximum CD term is five years, which is a shorter maximum than some other banks offer. Citi's rates for savings accounts tend to be on the low end, but rates vary by location.
- Higher-than-average APYs on select CD terms
- Multiple CD options
- Low minimum deposit requirement
- Maximum CD term is five years
- Lower APYs ons savings accounts
- Rates vary by ZIP code
Best for Students: Old National
High school and college students can take advantage of Old National's student accounts to get access to checking accounts without a monthly fee. Plus, they'll be able to access their money at ATMs and banking centers located near over 100 colleges and universities. Through Old National, students can also use the bank's budgeting tools to establish strong financial habits and better their money management skills.
Be aware, though, that the student account does have a monthly fee if the student opts for a paper statement, and unlike other banks, Old National doesn't have a special savings account for students.
- Free checking option for students who opt for e-statements
- No minimum balance requirement
- Free budgeting tools
- Paper statements require a monthly fee
- No special savings accounts for students
Best for Savings Accounts: PNC
With PNC's Virtual Wallet, you can take advantage of a checking account, reserve checking account and savings account all in one. And as a new customer, you can qualify for hundreds of dollars in promotional offers.
Although PNC has monthly fees on most deposit accounts, its fees are fairly low. Also, the bank offers higher-than average APYs on certain CD terms, helping you grow your money over time. However, PNC has lower APYs on its savings and money market accounts.
- Special promotional bonuses
- Budgeting and money management tools
- Higher-than-average APYs on CDs
- Low APYs on savings and money market accounts
- Monthly fees apply
Compare Savings Accounts rates today
Up to 2-day-early paycheck
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
No monthly maintenance fees
Earn 3.90% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 6/18/2025
Member FDIC
Earn 3.75% APY* with CIT's Savings Connect Account
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$100 minimum balance for APY
- No account opening or monthly service fees
- Deposit checks online with the CIT Bank mobile app
- FDIC Insured
*Rate as of 9/23/2025 1See Site For Details
*For complete list of account details and fees, see our Personal Account disclosures
*Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.
2Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
No minimum opening deposit
Earn 3.40% APY* with a Discover™ Savings Account
- Earn Over 5X the National Savings Average¹
- $0 Min. Balance to Earn APY
- $0 Monthly Fees & No Min. Opening Deposit
- No Overdraft Fees
- Deposits are FDIC-insured up to $250,000²
*Rates as of 9/30/2025
No hidden fees
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
How we chose the Best Banks of 2024-2025
To determine our list of best banks for 2024-2025, Money evaluated hundreds of the largest retail banks, credit unions, regional and state banks and online banks ranked by assets. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.
To identify the best banks and credit unions in Illinois, we researched leading financial institutions operating within the state. We researched account offerings, deposit minimums, rates and fees, as well as the number of branches each institution operates in the state.
You can read our full methodology here.