There are some banjos that you can discover on Amazon that is cheap and poor. If you don’t see those banjos in this review it might be a banjo brand to avoid. Most of the people are either inexperienced or on a tight budget for a large number of very good quality, custom build designs.

best banjo for the money

While it is ideal to list the Hubers, Gibsons, and Stellings of the world, but it won’t be fair to the people on a tight budget. The brands or banjos that we covered as the quality instrument have one thing in common, which is quality. A few of them are better known for different styles of stringed instruments, yet the quality and value of their banjos is unchallenged.

Top 7 Best Banjos for the Money

Let’s look at the 7 banjos for the money with detailed analysis ————

1. Deering Goodtime 2 (best value for the money)

Deering Goodtime 2 Banjo is one of the best banjos for the money. It includes a slim rock maple neck with fixed geared tuners and 3-ply maple edge. The Deering Goodtime 2 banjo is of closed-back style with single bound maple resonator. It is useful for offering an incredible projection of sound. 

During the construction of the Deering Banjo, high-quality materials are used. This makes Deering banjo strong and robust to support regular usage. This banjo is very durable and will last for a long time. The head of the banjo is around 11 inches. 

 Deering Goodtime 2 banjo

Besides, this banjo has a blonde slim maple neck with 22 nickel frets. The geared tuners will give you to have transparency in the note separation. The nickel-plated armrest will give too much comfort while playing the banjo. The nickel-plated equipment adds a decent touch to the body of the Deering banjo. 

The Deering Goodtime 2 Banjo has 5-strings and offers simple tuning. It guarantees you can get high and low notes with no trouble. The Goodtime Banjo includes a characteristic blonde maple with a glossy silk finish. The brilliant and warm tone of the resonator sounds great. The slim and speedy playing neck gives the Goodtime banjo easy to play. The Goodtime Deering 2 Banjo is also ideal for travelling due to its lightweight. 


  • The Goodtime 2 has all its benefits as the resonator-bearing sibling of the Goodtime
  • Goodtime 2 offers a very strong and clear tone by attaching a resonator to the already solid Goodtime sound
  • Maple rim and neck are built from high-quality wood only found in expensive banjos
  • Reliable, American construction
  • Lightweight


  • Does not have a tone ring
  • The design is essentially identical to the Goodtime with the addition of the maple resonator – you are paying for sound, not looks

2. Ibanez B200 (perfect for beginners through intermediate)

Our next choice of is Ibanez B200 Banjo since it comes at a reasonable price point. Ibanez B200 is a 5-string banjo with organizer bar that has closed back style. This banjo delivers a sound that is clear and deep. The neck and the fretboard of Ibanez B200 are made using Mahogany. High-quality materials are utilized while constructing this Ibanez banjo. 

Additionally, this banjo features rosewood resonator cover with acrylic pearl block. The tuner of this Ibanez banjo gives the best filing with 22 frets. The armrest of Ibanez B200 is of chrome with carving. The material of the bridge is rosewood and maple. 

Ibanez b200 banjo

The tailpiece of this banjo is made of chrome clamshell, which makes the body solid and strong. Ibanez B200 can endure rough use and you can use it for a long time. The armrest gives you the most significant comfort while playing the Ibanez B200. 

The shine finish carries a unique and modern touch to the instrument. It includes double rim produced using basswood block edge with 24-lug setup. A mahogany resonator and rolled brass tone ring generate an excellent tone while putting things in tune. 


  • Spiny inlays in the design of a vine are gorgeous, reminiscent and will be eye-catching
  • Powerful & solid sound
  • The glossy finish makes the deal if you’re looking for a low-priced banjo


  • The vine inlay can make it harder for beginners to learn while the different frets are on the fretboard
  • The mahogany used in constructing the wood components drives to a less refined tone than maple
  • More complicated than many banjos with resonators

3. Gold-Tone CC-100R (best goldtone banjo)

The Gold Tone CC-100R Banjo is one of the best banjos for the money. This gold-tone banjo has a maple neck and resonator. The tone ring of this banjo is produced using maple and it has a brass truss rod as well. Aside, the CC-100R Banjo comes with double way customizable tailpiece.  

This gold-tone banjo has a black neck tying with wavy maple headstock cover and low string activity, which gives an excellent playing experience. The resonator is incredible for delivering high and brilliant sounds. The interesting thing of this banjo is that it tends to be converted into open back banjo as well to generate rich and warm sound quality.

Gold-Tone CC-100R Cripple Creek Banjo

The tuning machine offers you a bright tone and tune. The banjo is lightweight as it weighs simply 6.5 pounds. The armrest permits you to have upheld while playing the banjo. This spares your shoulder from getting stressed and permits you to hold it for a long time. 

You can also have a separate case for preserving your banjo. It allows you to move it easily and keep it away from dust and water. 

Related: Goldtone banjo reviews


  • Maple Rim, Headstock and Neck
  • 2 Way Truss Rod
  • Low Action Strings
  • Brass Tone Ring
  • Over 7000 units sold to beginners universally


  • Expensive

4. Jameson 5-String (best resonator banjo)

Jameson 5-String Banjo 24 Bracket includes a 5-string with the geared 5th tuner. It has a thin and compact worked with fast necks that permit you to go all over the banjo. The banjo has 24 sections with a mahogany resonator style, which is affordable.

The maple bridge and flexible hinged tailpiece offers excellent sound and looks incredible. The Geared 5th tuner is superior to the contact tuner and makes it one of the best banjo for the money.

Jameson 5-String Banjo 24 Bracket

The chrome-covered armrest is great as it allows you to play the banjo with no difficulty. The 7-ply maple neck with mahogany shell gives remarkable look. The shine polishing makes the Jameson banjo quite elegant. This five string banjo gives all the features at a reasonable price point. 

Jameson 5-String Banjo 24 Bracket is lightweight as it weighs almost 9.9 pounds. It permits you to play it for a longer time without any strain on your shoulders. You can get a case for the banjo through which you can keep it safe. By having the case, you can travel it with no trouble. 


  • Quality Mahogany and maple construction
  • A solid banjo for the price
  • The banjo stays in tune, Has solid hardware and a loud rich sound


  • Resonator a bit hard to replace once it’s removed

5. Vangoa 5-String (top inexpensive banjo)

Another banjo that we can consider our best beginner banjo is the Vangoa five string banjo Remo Head Closed Solid Back. Vangoa five string banjo is an ideal starter banjo for beginners. It’s an excellent instrument that bright tones amazing.

This banjo features all the accessories a learner or a beginner would require, including a self-adhesive pickup, a bunch of additional strings, bag, tuner, and three picks.  

Vangoa 5-String Banjo

For the banjo board, Vangoa 5-string banjo used a top-quality Remo drum head that can deliver a rich tone. This quality instrument has a truss rod that can change the string height of the instrument. This beginner banjo is made of solid material that is smooth to touch and features its unit to help the beginners.  

Vangoa 5-string features its carrying unit for simple travel as well as can be plugged to an amplifier. This banjo can be transformed into an open banjo by freeing the back part. It is strongly recommended by numerous customers for its features just as its inexpensive price.


  • Comes with all necessary accessories and adjustable neck
  • It’s manufactured well & high-quality material
  • It comes with everything you may need to get set the banjo up


  • Picks and strap could be high quality, but are easily replaced

6. Deering Goodtime (best overall banjo)

The primary thing to note about this five string banjo is that it’s an open-back banjo. The open-back banjos are used to play in a classic style, where there are three or four variations. If you want to play bluegrass, you will be better for a resonator instrument. The open-back banjos bright tone better but they do not have the volume of a resonator banjo.

So while you genuinely can play bluegrass on an open-back banjo you won’t hear in a whole set.Another thing to consider with this five string banjo is that it’s lightweight. It is an advantage if you are searching for a travel-friendly banjo since most banjos tend to be a piece on the heavy side.

Deering Goodtime

One thing about five string banjo is, it will in general bug players who play the banjo is that it has guitar tuners rather than the planetary tuners, which you will find on traditional instruments. Although it does not make any huge difference in the long run. It will at present remain in order similarly just as some other banjo, it appears to be unique.

This great banjo has a glossy silk completed neck, which could be relying upon your preference. The neck of this banjo is meant for smaller hands, as it includes a slimmer neck profile. Banjos having thin neck profile, so decreasing that out more can bring about an instrument that may feel somewhat sad to larger hand performers.

However, your experience with five string banjo depends on several factors, so it won’t impact you anyway.

The main objection with the Goodtime Deering banjo is that it sounds a bit thin compared with different banjos available. This is going to rely upon a wide range of things. The beneficial thing about a banjo is that it’s the most adaptable acoustic instrument due to the fact that between string gauges, head tension, bridge height, tailpiece and the head you can change the tone of every banjo.

So with an appropriate set-up, you can easily make the sound quality remarkable in case you are willing to invest time.

The Deering Goodtime is one of the banjos for the money available. All things considered especially the quality, the other brands will have a hard time beating this banjo.


  • Easily playable
  • Well-fretted instrument
  • Sturdy construction and easy grip
  • High-quality wood finish
  • The turning keys are easy to wind that hold tight
  • Solid and nice polished rim


  • It sounds bit thin
  • It does not come with a gig bag

7. Epiphone MB-200 (total beginner banjo)

The last name on the list is the Epiphone MB-200 Banjo. It has a mahogany body, US Remo head, and mahogany neck. The spots on the fingerboard are produced using rosewood. The brown colored and red banjo is extremely eye-catching.

This beginner banjo includes a rosewood fretboard and a drifting bridge. The size of the MB-200 Banjo is 26.25. It made all the more fascinating with the chromed equipment. This Epiphone banjo has an armrest that permits you to play the instruments for a very long time. The materials used in the construction of the banjo is of top-quality. It makes this beginner banjo a powerful and durable to bear rough usage.

 Epiphone MB-200

Furthermore, this quality instrument keeps going for a long time without trading off the player experience. The tuners of the banjo are strong that offers simple tuning. It helps in delivering a brilliant and rich sound.

This beginner banjo is designed with an open back, which makes it lightweight. The weight of this great banjo is 5 pounds that will not put a strain on your shoulders. You can get a case independently that will keep your Epiphone banjo safe from dust and water. You will have the option to take it with you while travelling.


  • A full-size resonator banjo with the strong, sweet sound that comes with it
  • Lighter than many other similar banjos at 5 pounds
  • The lovely floral inlay design


  • You may need some setup to get the tuners working accurately

Some Essential Tips 

  • When you are seeking to find the best banjo for the money, thus you can search for an instrument that is inside the amount of money you have and ready to invest. 
  • Relying on the bridge position of the banjo you are getting, it must have a smooth sound. 
  • Relying upon your preference, you can either purchase a 4-string, 5-string, 6-string, or an 8 -string banjo. However, 5-string is more well-known and available; the quantity of strings has less effect on the nature of the tune.  
  • When you are purchasing a banjo, be careful that you purchase the specific estimation of your cash since some sellers may bring down the cost to win a purchaser selling the banjo made of low-quality materials. 


We have tried to give you a brief guide to buying the best banjo for the money that is comfortable while playing. Our guide can support the beginner to know more about the banjo to purchase on a budget and still end up getting a high-quality one.