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Local Rates In Indiana

Find Local Rates in Indiana

Sitting at the bottom of the Great Lakes below Illinois and Michigan, Indiana makes up one of the major crossroads of the region. Indianapolis has at least five Interstate connections going through the outer city, making it look like a spider across the rest of the state. Major urban locations include Fort Wayne, Bloomington, Franklin, South Bend, Columbus, and Lafayette. The state has multiple sources of industry. In terms of natural resources Indiana produces coal, oil, nuclear power, hydroelectric and even wind energy. Indiana also gains major tourism every year thanks to the car racing industry and the Indy 500. In fact sports contribute millions of dollars to the state economy with two professional football teams, basketball, ice hockey, and car racing.

The Hoosier State is home to more than 6.5 million Americans, making it the 16th largest state in the country, even though it is only the 38th largest by area. IN's economy produces over $275 billion per year; the state is in fact still very dependent on manufacturing, making products like cars, heavy machinery, and medical devices. These jobs have not left the state, and in fact manufacturers are often willing to relocate to take advantage of Indiana's highly skilled work force.

Places to Live in IN

The average home value in the state is around $100,000 as of 2013, which is almost the exact same as it was in 2012. This makes IN the most affordable state to live in among its immediate neighbors like IL, Kentucky, and Tennessee. Even the most expensive cities have average sale prices of much less than a million dollars - Zionsville, Carmel, and Syracuse have the three highest median sales prices of around $500,000. The most affordable areas in the state, places like Gary, Logansport, and Elwood, have median sales prices in the $50,000-70,000 range.

Here are a few notable cities in Indiana:

Indianapolis

Population: 820,445

IN's state capital, Indianapolis, is also its largest state and the 13th biggest in America. The city is well known as the home of major sporting events like the Indianapolis 500 and the NHRA US Nationals. The Indianapolis economy is centered around health care, manufacturing, and trade. Major companies include Wellpoint and Eli Lilly and Company. With its combination of affordable housing and a strong economy - it's been named one of the best cities for jobs - Indianapolis is a great place to buy a home.

Fort Wayne

Population: 253,691

Located in northeastern Indiana at the state's Ohio border, Fort Wayne has been named one of the National Civic League's All-American Cities three times. Though the city suffered a decline in the 1980's, it made a big comeback in the 90's and 2000's. Historically a manufacturing city, Fort Wayne is now involved in logistics, heath care, services, and more, with manufacturing making up only 17% of the economy. Fort Wayne is another Indiana city with affordable housing and a strong economy.

Evansville

Population: 117,429

Also known as "River City", Evansville is the largest city in southwest IN. The local economy is defined by manufacturing, finance, and health care. The city is also home to the University of Evansville and the University of Southern Indiana.

South Bend

Population: 101,168

South Bend is perhaps best known as the home of the University of Notre Dame, even though the school itself is technically located in Notre Dame, IN. The university employs over 5,000 people, making it vitally important to the South Bend economy. Other large employers are the Memorial Health System and AM General.

Local Financial Institutions

Indiana is a major state in the midwest, so it's not surprising that consumers have many options to choose from when it comes to banking. Here, we break down your choices, with links to reviews where appropriate.

The following banks are headquartered in the state. Most are local banks with a focus on the community, although First Internet Bank does not even have branches within the state.

  1. 1st Source
  2. Alliance Bank
  3. Ameriana Bank and Trust
  4. Bank of Indiana
  5. Bedford Federal Savings Bank
  6. Farmers State Bank
  7. First Internet Bank
  8. German American Bank
  9. Integra Bank
  10. Irwin Union Bank and Trust
  11. MarkleBank
  12. Old National Bank
  13. Union Federal Savings Bank

There are a number of large credit unions in the state. Here is a list of Indiana credit unions with $450 million or more in assets.

  1. Teachers CU
  2. Indiana Members CU
  3. Centra CU
  4. Beacon
  5. Eli Lilly
  6. Forum
  7. Evansville Teachers
  8. Purdue
  9. Three Rivers
  10. Indiana University
  11. Interra
  12. Financial Center
  13. Midwest America
  14. Notre Dame

The following national banks have branches within Indiana. These are generally good choices if you frequently travel across the country and need access to ATM machines wherever you go. They're also a good bet for getting the latest and greatest technology and array of products.

  1. BB&T
  2. Chase
  3. Fifth Third Bank
  4. PNC
  5. Regions Bank

Today's Indiana Interest Rates

For those racing fans who want to move closer to the Mecca of car competition or for more long-term reasons such as because Indiana offers a better family life than other locations, RateZip.com can help with access to regional lending rates offered by banks. You can quickly and accurately compare quotes from multiple lenders, and you can also compare fixed-rate, adjustable, and FHA and VA home loans.

For residents of IN, RateZip also makes it easy to compare banking products. This includes checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts. When shopping for a bank, it's important to weigh the interest rate that you get against the convenience that the bank offers to you. It may be prudent to accept a slightly lower rate from a bank with branches near where you live and work, for example.

When Does It Make Sense to Pick a Local Bank?

A local bank might be right for you if you're looking for a financial institution that's community oriented, focused on providing you personalized service, and willing to be flexible to keep your business and grow the relationship.

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