FISHERS, Ind. (Inside INdiana Business) — Only one Indiana bank is included in Newsweek’s inaugural list of “America’s Best Banks 2021.” The publication partnered with online loan marketplace LendingTree to compile the list, which was split into nearly 20 categories based on a number of factors, including fees, current and historical interest rates, and account terms.
Fishers-based First Internet Bank (Nasdaq: INBK) received the “Best Small Business Checking Account” designation and is the only Indiana institution on the list.
“Business owners need a good blend of solid interest rates and low fees to avoid eating into their profits, especially since many small business owners may not have a lot of cash on hand at the moment thanks to the pandemic,” said Newsweek. “The winner offers no monthly fee, unlimited transactions, and $10 in ATM fee reimbursements each month.”
Citibank was named “Best Big Bank,” while First Guaranty Bank and 1st Constitution Bank tied for “Best Small Bank.”
You can view the full list and methodology by clicking here.