Want to Make Extra Money Now?
|
Forbes recently reported on Northwestern Mutual’s 2023 Financial Planning & Progress Study. Among its many findings, this study determined that the average American’s personal savings total $65,100.
You're not alone if you’re anything like us and laughing out loud at that statistic. Most people had to rely on their savings accounts to swing them through the pandemic, so that number could arguably be a bit off.
However, creating and contributing to a savings fund can start today. With the best banks in Mississippi, saving money feels more like an accomplishment than a punishment.
Our list of the best banks below includes a few you might be familiar with. If you haven’t seen some of the banks on our list before, check them out to see what they might be able to offer you.
Are you ready to learn more about the best banks in Mississippi? Let’s get started!
Best Checking Accounts in Mississippi
|
Best for liability protection
|
Best for cashback rewards
|
Best for APY
|
Best for mobile banking
|
Best for building credit
|
|
MMG Rating:
5.0
|
MMG Rating:
5.0
|
MMG Rating:
4.5
|
MMG Rating:
3.9
|
MMG Rating:
4.5
|
|
Monthly fee: $12
|
Monthly fee: $0
|
Monthly fee: $0
|
Monthly fee: $0
|
Monthly fee: $0
|
|
|
|
|
|
Best Savings Accounts in Mississippi
|
Best for large balances
|
No monthly fees
|
Offers welcome bonus
|
Ease of use
|
No balance req.
|
|
APY: 5.00%
|
APY: 4.65%
|
APY: 4.60%
|
APY: 4.50%
|
APY: 4.40%
|
|
Minimum to Earn APY: $5,000
|
Minimum to Earn APY: $100
|
Minimum to Earn APY: $1
|
Minimum to Earn APY: $100
|
Minimum to Earn APY: $0
|
|
Bonus: N/A
|
Bonus: N/A
|
Bonus: $300
|
Bonus: N/A
|
Bonus: N/A
|
Best Bank Bonuses in Mississippi
|
Intro bonus: $300
|
Intro bonus: $50-300
|
Intro Bonus: $300
|
Intro Bonus: $300
|
|
|
|
|
|
(Nationwide)
|
(Nationwide)
|
(Nationwide)
|
(Nationwide)
|
|
|
|
|
- Bonus Offer: $300
- Minimum Deposit: $500
- Direct Deposit: Yes
- Expiration Date: 7/24/24
- Bonus Offer: $50-$300
- Minimum Deposit: $1,000-$5,000
- Direct Deposit: Yes
- Expiration Date: 6/30/24
- Bank Bonus: $300
- Minimum Deposit: $2,000
- Direct Deposit: No
- Expiration Date: 7/22/24
- Bonus Offer: Up to $300
- Minimum Deposit: $5,000
- Direct Deposit: Yes
- Expiration Date: 6/30/24
15 Best Banks in Mississippi
You won’t find any of the best digital banks on our list below. These banks are local and proud of it.
1. Bankfirst
BankFirst offers the Kasasa Cash Checking account, which comes with various benefits. This account has no monthly fee and requires a minimum deposit of $100 to open.
This account stands out by offering interest on your balance, allowing your money to work for you. Additionally, BankFirst refunds up to $15 in ATM fees each month.
The Kasasa Cash Checking account includes free online and mobile banking, bill pay, a debit card, and unlimited check writing. These features enable customers to conveniently manage their finances and make transactions whenever and wherever necessary.
For customers looking to maximize their earnings, BankFirst offers a rewards checking account. This account allows you to earn a respectable APY on balances up to $10,000.99.
To qualify for the APY, you must have a monthly direct deposit or ACH payment and make at least 18 debit card purchases. BankFirst provides free online and mobile banking services to enhance your banking experience.
2. BankPlus
BankPlus offers a unique financial education program called CreditPlus, designed to assist individuals in rebuilding their bank accounts and credit history. This program focuses on helping you manage your money effectively and gain essential financial literacy skills.
By completing the course, you become eligible to create a CreditPlus checking and savings account with BankPlus. CreditPlus also provides the opportunity to apply for a CreditBuilder loan.
With over 30 branches throughout Mississippi, BankPlus ensures convenient access to its services. To open a CreditPlus account, BankPlus requires a minimum opening deposit of $100.
The account has a monthly fee of $6 but does not impose any minimum balance requirements. Customers can also explore CDs to grow their savings and claim up to $1,200 in cell phone protection annually.
3. Bank of Aguilla
This local community bank is FDIC insured and offers some of the best money market accounts. You can choose from three checking accounts, all of which offer online and mobile banking.
Bank of Aguilla offers three checking accounts, the most popular of which is the Personal Checking account. This account requires $200 to open but has no monthly fees if you maintain a $500 balance.
The Statement Savings account is the only savings account this Mississippi bank offers. You must visit a physical branch to open this account.
Bank of Aguilla also offers personal and business loans, money market accounts, and agricultural loans.
4. Cadence Bank
Cadence Bank has a rich history, starting from humble beginnings at the back of a hardware store in 1876. As a regional bank, Cadence Bank has expanded its presence across multiple states, including:
One of their notable checking account options is the My Way Checking account. This account allows you to waive service fees by:
- Maintaining a minimum balance of $250
- Making at least five debit card purchases per month
- Having a direct deposit of $100 or more
- Being a student under the age of 25
With an $8 monthly fee that can be waived through these qualifying activities, the account offers flexibility and accessibility. Opening the My Way Checking account requires an initial deposit of $50.
Cadence Bank also provides additional financial services, such as CDs and wealth management solutions. The bank also offers a special checking account for seniors 62 and over.
5. Citizens National Bank
Citizens National Bank operates branches in:
- Carthage
- Columbus
- Flowood
- Hattiesburg
- Kosciusko
- Laurel
- Macon
- Madison
- Meridian
- Olive Branch
- Philadelphia
- Quitman
- Ridgeland
- Southaven
- Waynesboro
Citizens National Bank provides a second-chance checking account called Clean Slate Checking. By maintaining the account in good standing for 18 months, customers can upgrade to a traditional account.
Opening this account requires an initial deposit of $50 and a monthly fee of $9.95. However, customers can reduce their monthly fee by $2 by signing up for direct deposit.
Clean Slate Checking from Citizens National Bank offers additional features to enhance convenience. Customers receive a free debit card for their transactions, and they can take advantage of text banking capabilities and use Apple Pay for digital payments.
Citizens National Bank understands the importance of providing an opportunity for individuals to regain their financial footing. With the Clean Slate Checking account, customers can work towards improving their banking history and eventually transition to a traditional account.
6. Cleveland State Bank
Cleveland State Bank, a small bank with five branches in the state, takes pride in providing a personal and customer-centric approach to banking. With a focus on meeting individual needs, the bank offers a range of accounts and services.
For checking accounts, Cleveland State Bank provides two options. One of these accounts offers interest-earning opportunities, allowing customers to grow their funds.
The Elite Checking account is designed to bear interest, requiring a minimum deposit of $1,000. Although there is a monthly fee of $9, it can be waived by maintaining a minimum balance of $1,000 in the account.
In addition to checking accounts, Cleveland State Bank offers three different savings accounts. The Regular Savings Account, with a minimum opening deposit of $100, incurs a $5 monthly fee if the minimum balance requirement is unmet.
These savings accounts allow customers to save and manage their funds effectively. Cleveland State Bank provides various financial services, including credit cards, mortgages, loans, and safe deposit boxes.
7. Community Bank of Mississippi
Community Bank of Mississippi offers a free checking account with a $50 deposit. Its Community Checking account is designed to provide convenience and flexibility with no minimum balance requirements or monthly fees.
Customers can enjoy unlimited check-writing privileges, free bill pay, and eStatements. With 36 branches throughout the state, Community Bank of Mississippi ensures accessibility and a strong local presence for its customers.
While the checking account doesn't earn interest on the balance, it's important to note that it provides essential features and services without any associated costs. This lack of a fee allows customers to manage their day-to-day finances conveniently and efficiently.
8. First State Bank
First State Bank, a community bank, proudly serves customers across multiple branches in:
- Waynesboro
- Ellisville
- Laurel
- Leakesville
- Lucedale
- Meridian
- Quitman
- State Line
One standout choice is First State Bank’s Kasasa Cash Checking account. With no opening deposit or monthly fees, the Kasasa Cash Checking account is designed to provide rewards and benefits to account holders.
Customers can earn a decent APY on their balance by maintaining a minimum balance. Opening this account requires a minimum deposit of $100.
First State Bank understands the importance of convenience and reimburses up to $25 in out-of-network ATM fees each month, allowing customers to access their funds without worrying about additional charges. In addition to its checking accounts, First State Bank provides a range of banking services, including savings accounts.
9. Gulf Coast Community Federal Credit Union
Gulf Coast Community Federal Credit Union offers the New Chance Checking account, catering to individuals who may need a fresh start. With this account, customers can access the benefits of a checking account.
While there is a $15 monthly fee, it provides an opportunity to rebuild banking history. Opening the account requires a deposit of $100, and there are no minimum balance requirements.
The New Chance Checking account from Gulf Coast Community Federal Credit Union includes a free Visa debit card and unlimited check-writing privileges. You can also graduate to a traditional checking account after maintaining good standing for a year or more without any NSF charges.
Gulf Coast Community Federal Credit Union has branches in Gulfport, Bay St. Louis, and D'Iberville.
10. Hope Credit Union
In addition to offering several credit union promotions throughout the year, Hope Credit Union offers five checking accounts. Most of these accounts require a $25 minimum balance and a $9.95 monthly fee.
You can waive the monthly fee if you have at least $200 in your bank account. Hope Credit Union offers unlimited paperless transactions, free online and mobile banking, overdraft protection, and eStatements.
11. Magnolia Federal Credit Union
Magnolia Federal Credit Union understands everyone deserves a fresh start, so they offer the Opportunity Checking account. Opening the account requires a $20 deposit and a $20 account fee.
If you sign up for direct deposit, the monthly fee is reduced to $15. Otherwise, it remains at $20.
After demonstrating 12 months of responsible banking behavior, members can graduate to any other checking account offered by the credit union. A $100 savings deposit is provided as a reward for this milestone.
Magnolia Federal Credit Union has branches in Jackson, Brandon, Madison, and Yazoo City.
12. Planters Bank
Planters Bank operates 19 physical locations across Mississippi, Tennessee, and Louisiana, ensuring convenient access to their services. When it comes to checking accounts, Planters Bank provides four different options.
One of these accounts offers the opportunity to earn interest on your balance. The Essential Checking account includes a free Visa debit card and unlimited check-writing privileges.
Opening this account requires a minimum deposit of $50. There are no monthly fees to worry about.
In addition to checking accounts, Planters Bank offers two savings account options. Opening these accounts requires a minimum deposit of $100, and by maintaining a balance of $250 or more, customers can avoid the $8 quarterly fee.
Planters Bank also provides a comprehensive range of financial services, including credit cards, loans, business banking solutions, home equity lines of credit, and merchant services. These services cater to the specific needs of individuals, businesses, and entrepreneurs.
13. PriorityOne Bank
PriorityOne Bank offers the Keep It Simple Checking account as a straightforward and accessible option. Customers can open this basic checking account with a minimum deposit of $50.
The monthly fee is $7, which can be waived by maintaining a minimum balance of $100 or more. PriorityOne Bank provides online banking services, bill pay, and mobile banking with mobile check deposits to enhance convenience.
With locations in several counties, including Rankin, Scott, Simpson, Covington, Lamar, and Madison, the bank ensures accessibility to its services for a wide range of customers. In addition to checking accounts, PriorityOne Bank offers a variety of financial products, including money market accounts, CDs, and savings accounts.
These options allow customers to save and grow their funds according to their financial goals. With 16 locations across Mississippi, the bank provides a solid local presence, fostering a sense of community and personalized service.
14. Renasant Bank
Renasant Bank, a regional bank based in Tupelo, offers a diverse range of checking accounts to meet the needs of different customers. With options like Renasant Checking, Student Checking, Rewards Checking, and Rewards Extra, individuals can choose the account that aligns with their preferences and lifestyle.
These accounts have convenient features such as online and mobile banking, bill pay, and a free Visa debit card. Renasant Bank also provides a Mobile Wallet, which includes popular services like Zelle, Apple Pay, Apple Pay Cash, and Google Pay.
With 195 branches spanning seven states, Renasant Bank ensures a strong regional presence to serve its customers effectively. Their basic checking account can be free of charge by enrolling in eStatements, having at least one direct deposit per month, or maintaining a minimum daily balance of $1,000.
Opening this account requires an initial deposit of $50. Renasant Bank also offers CDs to help customers grow their savings over time. These accounts provide an opportunity for individuals to earn competitive interest rates on their funds.
Renasant Bank understands the importance of digital banking and strives to provide one of the best banking apps in the market. Through their user-friendly app, customers can conveniently manage their accounts, make transactions, and access a wide range of banking services on the go.
15. Trustmark National Bank
Trustmark National Bank, headquartered in Jackson, Mississippi, boasts an extensive presence with 180 branches spread across the southeastern region. They offer various banking services, including free checking accounts with multiple ways to avoid fees.
Customers can enjoy fee-free checking by:
- Conducting 15 transactions per month
- Receiving a monthly direct deposit of $100 or more
- Maintaining an average daily balance of $1,500 or higher
Trustmark National Bank caters to different customer segments, including students and small business owners, with specialized account options. Some accounts may even offer some of the best bank account bonuses on our list.
For example, students opening a checking account can benefit from a $50 bonus. The bank requires a modest minimum opening deposit of $50 and doesn't impose a minimum daily balance requirement.
To further cater to customers' needs, Trustmark National Bank offers a range of financial solutions and services, such as personal loans, mortgages, wealth management, and small business lending. With 124 locations in Mississippi alone, the bank ensures convenient access to its services for residents throughout the state.
FAQ
The best banks in Mississippi offer various services, including checking and savings accounts, loans, credit cards, mobile and online banking, business banking, and wealth management. Many of these services are also offered by the best national banks.
Trustmark National Bank, Community Bank, and Renasant Bank offer free checking accounts. Other banks on our list also offer free checking accounts, some of which require you to meet specific requirements to waive the monthly fees.
Yes, you can open more than one bank account in Mississippi. You can open as many bank accounts as you like, provided you can keep track of them all.
Have Your Mississippi Mud Pie and Eat It, Too
When it comes to banking, having your cake and eating it means you can enjoy accounts that keep your money safe, on track, and right where you need it. A few of the best banks in Mississippi may add a few extra perks (or toppings) as well.
We hope this list has helped you find some of Mississippi's best banks. If anything, you’ll at least know that there are plenty of banks to choose from if you ever find yourself living in this state.
The best banks in Mississippi support local communities with efforts that improve the lives of many. What can you do with your new bank account that could change someone’s life, including yours?
A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.
