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):

Click here for 2016's ranking of the Top 11 Best Banks 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


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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.

Top Banks in Michigan Review

Image Source: Best Banks in Michigan

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

Photo courtesy of: Pixabay

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

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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

Photo courtesy of: Citizens Bank

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:

Photo courtesy of: Citizens Bank

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.

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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

Photo courtesy of: Flagstar Bank

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:

  • 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.

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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

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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!


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AdvisoryHQ Disclaimer:

Reasonable efforts have been made 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 our affiliates. Click to view our advertiser disclosures.