Best Banks in Arkansas

Read our Advertiser Disclosure.
Contributor, Benzinga
July 22, 2020

Is your bank really doing the most it can for your money? Brick-and-mortar and digital banks alike are in fierce competition, and the market offers enough options for you to be choosy. 

Start with Benzinga’s guide to the best banks in Arkansas to find your perfect match. 

Best Banks in Arkansas Near You:

  • Best Checking Accounts: Axos Bank
  • Best Savings Accounts: CIT Bank
  • Best for Convenient Branch Access: Arvest Bank
  • Best for Mobile Banking: BBVA
  • Best for Account Customization: OZK Bank
Axos Bank Savings
Best For
  • No Maintenance Fees
securely through Axos Bank Savings's website

Best Checking Accounts: Axos Bank

If you’re looking for a new checking account, Axos Bank has a host of customer-focused options. Choose from 5 checking accounts with useful features and attractive perks. 

Essential Checking is a solid no-fee everyday account. All ATM fees are reimbursed with this account. 

The CashBack Checking is a fee-free account as well, but you’ll also earn 1.00% cash back on all transactions that require a signature.

Rewards Checking the most popular account from Axos. This is a high-yield account with a tiered structure. You can earn the total interest rate by performing certain actions each month:

  • Get $1,000+ in eligible direct deposits 
  • Have 10+ monthly transactions with your Axos Visa Debit Card 
  • Have 15+  monthly transactions with your Axos Visa Debit Card 

This is a completely free account. All ATM fees are reimbursed and you won’t face overdraft or non-sufficient funds fees.

Golden Checking is an account that caters to the needs of those aged 55 years or older. This is also an interest earning account and includes free personal checks among other perks. With First Checking, teens aged 13 to 17 can get their first taste of banking while earning interest.

All Axos checking accounts include mobile deposit capability, bill pay and peer-to-peer payments.

You can’t go wrong with the savings options from Axos either.  High Yield Savings and High Yield Money Market are interest-bearing savings accounts. There’s no maintenance fees for these accounts.

CIT Bank
Best For
  • Business and Personal Checking
securely through CIT Bank's website

Best Savings Accounts: CIT Bank

A digital bank with user-friendly online and mobile banking capabilities, CIT Bank has a solid offering of personal banking services.  

You can open a checking or savings account and get a mortgage or certificate of deposit (CD) from CIT. Savings accounts are where CIT really shines. You’ll have your pick of 3 accounts with different goals and perks. 

To keep things simple (and low cost) but still earn interest on your balance, choose Premium High Yield Savings. 

The Savings Builder account is a high-yield account with interest tiers. You qualify for the higher level tiers by performing certain actions monthly like receiving eligible direct deposits or meeting an average minimum balance.

If flexibility matters to you, CIT Money Market account is a popular choice because it has qualities of both checking and savings accounts. You can earn interest on your balance, but it’s easy to access your money. Although there’s a limit on the number of monthly transactions you can conduct, it won’t cost you to use them up to that point. This account can be linked to services like Bill Pay, Zelle and PayPal for easy digital transfers. 

The account is mostly free. If you exceed the number of transactions allowed, you’ll pay $10 per transaction but only up to $50 per month. Overdrafting will cost you $25. You’ll have 24/7 access to the mobile banking tools with all CIT accounts.

CIT’s checking account, eChecking, also has many attractive features. It’s an interest-bearing online checking account. You can reach high-tier rates by maintaining a balance of at least $25,000. Like CIT savings accounts, eChecking has very few fees. Some out-of-network ATM fees will also be reimbursed.

Arvest Bank
securely through Arvest Bank's website

Best for Convenient Branch Access: Arvest Bank

Arvest Bank has an extensive network of branches throughout Arkansas. It serves both personal and business banking customers. Arvest offers credit cards, home loans and investment and trust products as well.

You have your choice of several checking accounts with Arvest. Free Blue is a free account if you opt for paperless statements. This account provides up to $400 in overdraft forgiveness and allows unlimited check writing.

Basic Blue is a no-frills debit account that you can customize with different perks for a fee. myBlue Checking has appealing features like up to $600 in overdraft protection and free notary service.

Arvest Club has a host of free banking services and discounts on certain financial products. Preferred Club is an interest bearing account that offers premium features to customers that keep high balances over $20,000.

Best for Mobile Banking: BBVA

BBVA offers comprehensive mobile banking with its award-winning mobile banking app. You’ll find innovative and user-friendly personal, commercial, small business, commercial and wealth products with BBVA.

As far as personal banking products go, BBVA offers checking and savings accounts, credit cards and lending options. Different products are available nationwide while some are available regionally.

The set of nationwide products are available to Arkansas customers. This includes 2 checking accounts that you can open with as little as $25. Premium Checking is a tiered interest-earning account. With Online Checking, you can earn cash back when you enable Simple Cash Back.

BBVA operates branches in several states but hasn't opened any in Arkansas yet. It shouldn’t present any obstacles though -- you can manage your account entirely online or conduct transactions at eligible ATMs.

OZK Bank
securely through OZK Bank's website

Best for Account Customization: OZK Bank

OZK Bank started out as a small community bank in Arkansas that has grown to a large nationwide presence with branches in 10 states.

OZK Bank has a number of checking accounts that you can customize with different features.

For example, My Change Keeper is a feature you can add to any OZK Bank personal banking account. You can choose between 3 different types of targeted saving. OZK will either round up your change, round up to a specified dollar amount or specify a certain amount to add to each transaction.

With My Choice Checking, a free account, you can choose between 4 custom perks. These include earning interest on your balance or opting for free identity protection services. 

You may also choose from Bonus Checking, an account with premium perks and rewards, Heritage Checking, a senior account, MaxYield Checking, a high-yield checking account and Pathway Checking, a fresh-start account for those who have had banking troubles before.

Frequently Asked Questions

Q: What do I need to open up a bank account?

A: Most banks require a form of government-issued ID and other identifying documents like your Social Security card. Visit a bank’s website to find out specifics. Some require minimum opening deposits or maintain other requirements.

Q: Is my money safe in a bank account?

A: The Federal Deposit Insurance Corporation (FDIC) insures funds deposited into banks up to $250,000. FDIC coverage guarantees your money is safe up to that $250,000 mark.

Find Your Best Bank

With so much competition, it can’t hurt to double check to make sure your bank is doing what it can to benefit your finances. Whether you’re looking for a digital bank or a bank with a local branch, you have a large pool of solid choices.

Use Benzinga’s list of the best banks in Arkansas to start your search today.


To determine the best banks in Arkansas, Benzinga analyzed over 100 banks and financial institutions. We gave weight to banks in Arkansas with co-op ATMs and cash-back options. We also gave greater rankings to banks which offered the following: checking and savings accounts, online banking, personal loans, mortgages, educational resources, and a mobile app.

Hire a Pro: Compare Financial Advisors In Your Area

Finding the right financial advisor that fits your needs doesn't have to be hard. SmartAsset's free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. If you're ready to be matched with local advisors that will help you achieve your financial goals, get started now.