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Top banks in Michigan ranked by best APR.
Sort the best APR by loan type, and see how these rates affect car payments in our Michigan car payment calculator.
Car rates are for 60 months. The interest rates listed are the best offered by the top banks in MI for A-tier credit scores.
The APR listed may change at any time. Rates vary based on application date, terms, and credit rating. Sort rates by clicking the top of the list. |
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Bank of America BofA was founded in 1904 and offers 80 locations in Michigan and 3800 branches nationwide. Residents can get started on a checking account with a $4.95 service fee that is waived when a $500 balance is maintained. Bank of America ranks #1 on our 2025 list of the best banks in Michigan for competitive interest rates with top customer service. Bank of America is run by Brian Moynihan who started in 2004 and became chief executive in 2010. Brian played rugby and studied history at Brown University, and got his law degree from Notre Dame. Car Rate: House Rate: Credit Card:
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PNC Financial
PNC was established in 1804 and provides over 135 banks in Michigan and 2400 branches nationwide. Anyone can open an account with a $7 monthly fee which is waived when direct deposits exceed $500. PNC is led by William Demchak who started as Chief Financial Officer in 2002, and was appointed President in 2013. Bill was born in Pittsburgh on August 24th, 1962. He studied accounting at the University of Michigan. Car Rate: House Rate: Credit Card:
Eastern Michigan Bank EMB was established in 1895 and provides 12 banks in Michigan. Anyone can join by starting a checking account with a $7 service cost that is waived when direct deposits are active or when a balance of $250 is maintained. Eastern Michigan Bank is managed by William Oldford who joined in 2015 and became chief executive in 2020. Will attended the University of Michigan in Ann Arbor prior to getting a law degree from CWSL. Car Rate: House Rate: Credit Card:
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Old National Bank
ONB was founded in 1907. It has 22 branches in MI. Anyone can join by opening a checking account with a $6.95 monthly fee that is waived when direct deposits exceed $500 or a balance of $750 is maintained. Old National Bank is managed by Jim Ryan who joined in 2000 as the assistant treasurer and became CEO in 2022. Jim grew up in Grand Rapids and learned finance at GVSU.
JPMorgan Chase Bank
Chase was established in 1799 and has over 180 branches in Michigan and 4900 locations across the US. Anyone can open an account with a $12 monthly fee that is waived after electronic deposits exceed $500, or an account balance over $1500 is maintained. Chase is run by Jamie Dimon, who has been Chairman of the Board since December 2006 and Chief Executive Officer since December 2005. Jamie was born on March 13th, 1956 in New York City. He learned economics at Tufts and began his career at American Express.
Independent Bank Independent was created in 1890 and has 61 branches in Michigan. Anyone can join by opening an account with no minimum balance and no annual fees. Independent Bank is run by William Kessel who was hired in 1994 as VP of Finance and has been the chief executive since 2004. |
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KeyBank
KeyBank first opened in 1849 and has over 20 locations in Michigan and 984 branches nationwide. Anyone can open an account for standard checking without service fees. KeyBank is headed by Chris Gorman who was hired in 2002 as a corporate banker and became CEO in 2020. Chris studied finance at MU.
Flagstar Bank
Flagstar was founded in 1987 and has over 115 locations in Michigan plus 305 more locations across the USA. Residents can get started on a checking account with no minimum balance and no monthly fees when paperless statements are selected. Flagstar Bank is headed by Sandro DiNello who became CEO in 2023 after decades of service. He got into banking as a financial examiner before getting hired by the Security Savings Bank in Michigan which later became Flagstar. Sandro was born in Detroit and studied business at Western Michigan University.
Fifth Third Bank
Fifth Third was founded in 1865. It has 170 branches in Michigan. Anyone can join by opening a checking account with no monthly fee. Fifth Third is managed by Timothy Spence who joined the company in 2015 as a strategy officer and became CEO in 2022. Tim was born in 1979 and learned economics at Colgate University.
Huntington National Bank Huntington was created in 1866 and is the largest bank in Michigan by locations with over 300 branches. Anyone can join by starting a checking account with a $10 fee that's omitted when direct deposits exceed $1000 per month. Huntington is led by Stephen Steinour who took over in 2009. Steve is from Pennsylvania and learned economics at Gettysburg College. He began his career as an analyst for the US Treasury Department. |
