Top 10 Best Banks in Michigan | 2017 Ranking | Best Michigan Banks

2017 RANKING & REVIEWS
TOP RANKING BEST BANKS IN MICHIGAN

Finding the Best Bank in Michigan

As you diligently conduct your research and shop around for the best banks in Grand Rapids, MI, or the rest of the state, we are pleased that you’ve come across our article.

At AdvisoryHQ, we believe that our stringent selection methodology allows us to understand which banks in Detroit and surrounding areas offer the kind of service and excellence you deserve.

It’s too easy these days for Michigan banks to slip extra fees and unfair stipulations into the fine print; without the help of a carefully-trained eye, you may not notice these pitfalls until it’s too late.

As you become familiar with our list of the top 10 best banks in Michigan, keep in mind which of the services offered by each bank are most important to you.

Are you in the market for a list of Warren banks that can handle your business’s financial workload?

Award Emblem: Top 10 Best Banks in Michigan

Are you trying to find the best bank in Detroit to help you save for your children’s college education?

Perhaps as you search through our list of the best banks in Michigan, you are just trying to find a simple checking and savings account to fit your everyday needs.

No matter what the case may be, we are confident that there are some great Michigan banks on our list that can satisfy, and even surpass, your banking needs. Read on to learn about each notable bank in Michigan on our list.

AdvisoryHQ’s List of the Top 10 Best Banks in Michigan

List is sorted alphabetically (click any of the bank names below to go directly to the detailed review section for that bank in Michigan):

Top 10 Best Banks in Michigan | Brief Comparison & Ranking

Best Banks in Michigan	Highlighted Features
Bank of America	Keep the Change savings program
Chemical Bank	Variety of business checking account options
Citizens Bank	Multiple savings accounts tailored to specific financial needs
Comerica Bank	Wide range of personal & business accounts for a variety of needs
Fifth Third Bank	Identity theft protection programs
Flagstar Bank, FSB	Wide variety of personal & business loans
Independent Bank	Over 50 customized mortgage programs
JPMorgan Chase Bank	Banking products designed specifically for students
PNC Bank	Dynamic online banking services
The Huntington National Bank	Choose between lower interest rates or credit card rewards

Table: Top 10 Best Banks in Michigan | Above list is sorted alphabetically

AdvisoryHQ’s Selection Methodology

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?

Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.

Detailed Review – Top Ranking Best Banks in Michigan

Below, please find a detailed review of each Michigan bank on our list of the best banks in Michigan. We have highlighted some of the factors that allowed these Michigan banks to score so high in our selection ranking.

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Chemical Bank Review

Chemical Bank is a home-style bank founded in 1917 and remains the second largest bank headquartered and operating within the state of Michigan.

They have 249 branches located throughout Michigan, northeast Ohio, and northern Indiana, with over $17 billion in assets.

Clients of all types can take advantage of Chemical Bank’s personal and business checking, savings, credit cards, loans, and custom-tailored wealth management services.

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Key Factors That Enabled This Firm to Rank as a Best Bank in Michigan

The following is a listing of key factors that allowed Chemical Bank to rank as one of the best banks in Detroit and one of the top banks in Michigan.

Personal Checking Options

Chemical Bank offers a variety of personal checking account options which make banking simpler than ever.

Get only the services you need and none of the ones you don’t. Here’s a look at your options:

Advantage Checking: An interest-earning account to help you grow your money.

ChemBasic Checking: No minimum balance and no service charges when you use eStatements.

ChemPlus Checking: The account for individuals 55 years and older.

Classic Checking: Offers a low minimum balance and no per-check charge.

Green Checking: Paperless banking and 24/7 electronic access to your funds.

Business Checking Advantage

Businesses tend to vary in their needs — even more than individuals. To help your business grow and thrive and operate at its best, Chemical Bank has honed their craft to offer five unique business checking account options that are sure to get the job done.

Check out the key benefits of each below:

Commercial Checking: Earn credits to offset account fees

Small Business Checking: For businesses that want competitive pricing

Business Interest Checking: Get all the banking features you need while you earn interest on your money

Business Interest Checking Plus: A high-yield interest earning option for your business

Not for Profit Checking: Created specifically to benefit not for profits

Comprehensive Lending Services

When it comes to lending, Chemical Bank has been there a time or two, you could say. With over 100 years of lending under their belts, they have several options and tools available to you, whether you are looking for a personal or business loan.

Let’s take a look at what exactly your loan options are:

Mortgage loans
Personal loans
Auto loans
Boat and RV loans
Tractor and trailer loans
Home equity loans
Lines of credit
Other secured loans

Leading Wealth Management Services

With Chemical Bank, there’s no need to take your business elsewhere when looking for quality investment and wealth management services.

They employ a team of highly skilled individuals who can lend expert knowledge to your financial needs through a client-centered approach.

Growing, protecting, and preserving your wealth has just become a lot easier through the following comprehensive services:

Investment management
Private banking
Retirement planning services
Financial advisors
Trust and estate services

Don’t Miss: Best Private Banks | Top Private Wealth Mangement Firms & Best Wealth Management Services

Citizens Bank Review

As the 12th largest retail bank in the United States, Citizens Bank gives customers a variety of financial services with a goal of delivering simplicity and quality above all else.

They proudly offer banking, investing, and lending services to individuals, companies, non-profits, and institutions.

Wholesale banking products, debt syndication, and treasury services are also among Citizens Bank’s key specialty services.

Key Factors That Enabled This Firm to Rank as a Best Bank in Michigan

Below is a list of contributing factors that allowed Citizens Bank to rank as one of the best banks in Detroit and one of the top banks in Michigan.

The Checking Standard

Choosing the right checking account should reflect your financial needs and your overall goals. Do you want to minimize pesky fees? Grow your money through an interest-bearing account?

Citizens Bank has you covered with the following accounts:

One Deposit Checking: A simple and clear checking account. One monthly deposit assures your checking fees are waived, and you still get all the great benefits of banking with Citizens Bank.

Platinum Checking: Interest-bearing account with access to personalized advice and financial services

Platinum Plus Checking: Same benefits as Platinum Checking, but with higher rates

Grow Your Savings

Staying on track with your savings is a little easier when you have customized options for managing your savings. Citizens Bank customers can enjoy:

Green Savings: Set savings goals and earn rewards for enrolling in the GoalTrack Savings program.

Platinum Savings: Provides access to Platinum Checking rates and has no maintenance fees.

Platinum Plus Savings: Better rates and access to Platinum Plus Checking.

College Saver: Put money aside for your child’s education and get a $1,000 bonus when they turn 18 if program requirements are met.

Citizens Bank HomeBuyer Savings: Saving for a home just got easier. Receive a $1,000 credit once you meet all program requirements.

Home Borrowing

As if buying a home isn’t complicated enough, don’t let yourself get weighed down by a heavy interest rate or hidden loan terms.

Citizens Bank puts you front and center through the whole process and turns a long-term contract into a great partnership. Clients have the option to:

Buy a home
Refinance
Use home equity

And they can do so through:

Fixed-rate mortgages
Adjustable-rate mortgages
Jumbo mortgages
First lien position home equity loans
HELOC (Home Equity Line of Credit)
Capped-rate home equity line of credit
Home equity loans

The following is a look at current rates for a Fixed Rate Mortgage based on 15-, 20-, and 30-year terms:

Rewarding Credit Cards

Build your credit or keep a safety net within reach in case of emergencies.

With a Citizens Bank Cash Back Plus® World MasterCard® or Clear Value® MasterCard®, you’ll enjoy a 0% introductory APR, low rates, unlimited 1.5% cash back rewards (for Cash Back card), and no annual fees. Applying is easy and can be done online.

Flagstar Bank (FSB) Review

As a full-service bank headquartered in Troy, Michigan, Flagstar Bank (FSB) has been in business since 1987.

While having been around a relatively short time in comparison to many other banks, they are worth taking into consideration due to their community roots and excellent banking services and wide range of banking products.

Additionally, FSB has worked with assets in the range of $15.4 billion and stands as the fifth largest savings bank in the country.

Key Factors That Enabled This Firm to Rank as a Best Bank in Michigan

Take a look at this listing of main factors that enabled Flagstar Bank (FSB) to rank as one of the best banks in Grand Rapids, MI, and one of the top banks in Michigan.

Grounded Through Principle

In order to offer clients a unique banking experience, FSB believes in the importance of creating lasting relationships with their clients and standing by a clear vision propelled forward by a set of guiding principles.

One look lets you know they have a strong desire to view things beyond the numbers. These guiding principles include:

Hiring great people and giving them the tools to become even better.
Teamwork is a choice. So they choose to remove the “I” to build the “We.”
They believe that banking should always be personal, private, and secure.
They build products that make sense because they’ve asked, “Does this matter to our customers?”
Local means everything.

Personal Checking Solutions

This top Michigan bank offers three checking options that allow you the freedom to build your account around your needs, you can rest assured you are getting all the features you need, and none of the ones you don’t. These include:

SimplyChecking: A basic checking account with no minimum balance and no monthy fee

SimplyPlus+ Checking: Interest-bearing account with a 0.25% reduction on select loan products

SimplyMax Checking: Highest interest rates and free box of custom checks

All checking accounts are equipped with the power of:

Online banking & bill pay
Mobile banking
Mobile check deposit
Free ATM access
Free Visa Debit Card

The Positive Lender

Taking out a loan to buy a new house or a new car should be an exciting time, not one filled with worry, doubt, and hidden fees. FSB offers a variety of loan options that can help you make your dreams a peaceful reality.

Personal and business loans are available for:

Home mortgages
Refinancing
Home equity loans
Boat loans
Auto loans
Motorcycle loans
RV and snowmobile loans
Conforming and nonconforming mortgages
Government loans
Credits cards
Business loans
Business lines of credit
SBA loans
Commercial m0rtgages

Investments Strategies That Work

FSB is a seasoned expert when it comes to helping you manage your investments. Through years of direct contribution and a keen sense of market trends, they are able to help you form strategies that yield greater returns on your long-term investments.

Investment solutions are tailored for:

Traditional IRAs
Roth IRAs
Coverdell Educational Savings Accounts
Certificate of Deposit
Health savings accounts

Commercial and Institutional Banking

FSB offers trusted banking services on a commercial and institutional level that are tailored to meet the needs of Michigan-based businesses. Commercial and institutional banking services include, but are not limited to:

Lending services
Treasury management
Payables and receivables
Fraud protection
Information reporting
Sweep services

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Independent Bank Review

As an institution that has been serving clients for over 150 years, Independent Bank strives to go beyond what people expect and deliver the unexpected. This means trust, focus, and doing whatever it takes to meet your needs.

Independent Bank gives clients the power of both personal and business banking solutions, and they have approximately $2.5 billion in assets to back up their expert knowledge and outstanding service.

Key Factors That Enabled This Firm to Rank as a Best Bank in Michigan

The following is a listing of key factors that allowed Independent Bank to rank as one of the best banks in Grand Rapids, MI, and one of the top banks in Michigan.

Checking Accounts Built Around You

What features do you need in your checking account? With Independent Bank it’s easy to get just what you need with their personal checking account options.

While each varies in what they can do for you, all accounts offer:

SnapCheck mobile check deposits
Free online and phone banking
Competitive rates
Free debit card

Let’s take a more comprehensive look at individual account features for personal checking accounts:

Free Checking: No minimum balances, free person-to-person payments, and more.

Select Checking: No service fees, overdraft protection, and other added bonuses.

Premier Checking: Free foreign ATM transactions, no minimum balance, and a host of additional perks.

The Business Checking Difference

In an effort to give your business the edge that it truly needs, Independent Bank allows you the freedom to choose between 5 business checking accounts that are tiered to fit the size of your business or organization.

Below, we’ll discuss the layers of these business checking accounts:

Business Freedom Checking: A small business account with no service charges on daily balances of $1,000 or more and 250 free items per month.

Community Freedom Checking: The account for non-profit organizations featuring no service charges on daily balances of $1,000 or more and 250 free items per month.

BusinessFlex Checking: Earn interest with no minimum balances and free currency and coin deposits on your first $10,000 each month.

EagleAdvantage Checking: Great for high-volume businesses with a monthly service charge of just $10 and low per-item fees.

EagleAdvantage Plus Checking: The account for high balances, which earn more interest faster.

Borrowing with Confidence

It doesn’t matter if this is your first home or beyond; you can take advantage of a variety of mortgage solutions that will help you make your home buying dreams a reality.

Mortgages are available through more than 50 customized programs including the following:

Michigan State Housing Development Authority (MSHDA) Loans
Conventional fixed rate loans
Jumbo loans
Adjustable rate mortgages (ARMs)
USDA Rural Housing Services (RHS) loans
Federal Housing Administration (FHA) loans
Veterans Administration (VA) loans
Construction loans

Next is a brief overview of current mortgage rates given a variety of different terms:

Lastly, additional loans can be secured for the following purposes:

Personal loans
Auto loans
Personal and home equity lines of credit
Unsecured loans
CD Secured
Large and small RV loans
Boat loans
Traditional business financing programs
SBA Loans
Commercial loans
Credit cards
And more!

Treasury Management

To help keep your small or large business on track, Independent Bank offers Treasury Management services, which couple time-tested solutions with cutting-edge technology to keep you moving always ahead.

Treasury management services for your business allow you to:

View balances, reports, and history
Make stop payments
Integrate QuickBooks and Microsoft Money services
Expand ACH, Child Support, and Other Payments
Research Services
Positive Pay
Pay Bills in the U.S. Virgin Islands, Puerto Rico, and more
Get lockbox services
Make remote deposits
Manage cash sweeps
Plus other banking services

To browse exclusive reviews of all top rated banks in Michigan, please click on any of the links below:

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Conclusion – Top 10 Banks in Michigan

We hope that as you’ve concluded reading the information presented within these reviews, you have emerged more confident than before about your options regarding top Michigan banks.

As you decide on the best bank in Michigan for you, remember to keep your personal needs in mind.

Do you frequently access ATMs? Then choose a bank with a large ATM network and free access. Are you trying to find the best bank in Michigan to help you build your savings?

Then take the time to compare interest rates among these top Michigan banks.

As you narrow down your final selections from our list of the top 10 best banks in Michigan, don’t be afraid to reach out and call your prospective institution with any further questions you may have.

Any good bank will be happy to take the time to answer your questions. We hope that you are as excited about your future possibilities as we are. As always, happy banking!

AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.