This copycat Magnolia Bakery Banana Pudding is made completely from scratch and mirrors the texture and flavors of the version made with a pudding mix. It’s not hard to make and is totally worth the few added steps, because the flavor of this fully homemade version is even better!

Close up of Magnolia Bakery banana pudding in a trifle bowl

While I already have a delicious, classic banana pudding recipe, I’ve always loved banana pudding made with sweetened condensed milk, too. I incorporated that into my banana pudding pie because I love it so much. So when I saw that the copycat versions of Magnolia Bakery Banana Pudding used sweetened condensed milk, I thought it sounded pretty good. Then I wondered if it could be just as good from scratch. And the answer is no…it’s even better!

This version is still made with sweetened condensed milk, like the other copycats, because that’s part of what gives the dessert its great flavor. It just skips the instant pudding mix, which I was surprised to see Magnolia Bakery using in theirs. It’s kind of crazy when you consider just how simple it is to make from scratch. And, you can make a whole trifle dish of this version for less than the cost of a pint at the bakery!

Why Everyone Should Try This Magnolia Bakery Banana Pudding Recipe

Smooth, creamy texture. During testing, I had a fully made copycat version made with a box pudding mix to compare it to. It took a few rounds of testing to get the smooth and creamy texture just right, but I definitely nailed it. Once you fold in the whipped cream, it’s just perfection.
Tastes even better. It was an added bonus (but not really a surprise) that the flavor was even better when I made the pudding from scratch. It has much more of the same great flavor. It’s so, so good!
Beautiful presentation. This copycat Magnolia Bakery banana pudding is assembled in a glass dish, which allows for several layers of Nilla wafers, bananas, and pudding. It’s a nice change from the usual 9×13 baking dish presentation of other banana puddings, while still being easy to share and transport.

Ingredient Notes

This copycat recipe is made with many of the same ingredients as classic banana pudding, with a few adjustments. Here’s a look at what you’ll need and why it’s important. The exact measurements can be found in the recipe card at the end of the post.

Overhead view of ingredients needed to make Magnolia Bakery banana pudding from scratch

Cornstarch – Helps thicken the pudding to give it the right texture.
Salt – A touch of salt brings out the flavor in the pudding. Without it, the pudding would be bland.
Whole milk – I highly recommend whole milk to get the best texture. Another type of milk will thin out the pudding.
Sweetened condensed milk – Adds flavor and sweetens the pudding, while contributing to the thick, creamy texture. Do not use evaporated milk; it is not the same.
Egg yolks – Only the yolks are used in this pudding to give it structure and creaminess. Be sure to separate the whites carefully, as they can add a bit too much structure to the pudding.
Vanilla extract – Use a quality extract because flavor matters. It is vanilla pudding, after all!
Butter – Use unsalted butter to control the flavor. It should be kept cold until used.
Heavy whipping cream – Keep the heavy cream in the fridge until you’re ready to use it. Warm cream does not whip up properly.
Bananas – Use bananas that are ripe but still firm, with no brown spots.
Nilla wafers – A store-brand vanilla wafer would also work, but Nilla wafers have the best flavor and texture, in my opinion.

A bowl of copycat Magnolia Bakery banana pudding

How To Make Magnolia Bakery Banana Pudding From Scratch

Making this copycat recipe from scratch takes just a few extra steps. The printable instructions can be found in the recipe card at the end of the post.

To start, whisk the egg yolks in a medium bowl. Set aside.

In a saucepan, whisk the sugar, cornstarch, and salt until there are no clumps. Add the milk and whisk together, then stir in the sweetened condensed milk.

Whisking milk and sweetened condensed milk over heat

Heat over medium-low to medium, stirring constantly, for about 15 minutes. It should be hot but not boiling. Remove from heat.

Whisking a small amount of hot milk into egg yolks

Pour a little milk mixture into the eggs, whisking constantly. Add a little more hot milk to the eggs, then add them to the saucepan.

Whisking the homemade pudding on the stovetop

Return the pan to heat. Whisk constantly until it begins to boil. Continue whisking and let it boil for 1 minute.

Whisking butter and vanilla into homemade pudding

Remove from heat. Stir in the vanilla and butter until completely smooth.

Transfer to a bowl. Cover with plastic wrap pressed against the top and refrigerate until cool.

Whip the heavy whipping cream until stiff peaks form.

Folding whipped cream into homemade pudding

Fold the whipped cream into the pudding in two parts, until no streaks of pudding remain.

Nilla wafers in the bottom of a glass bowl

Arrange 1/3 of the Nilla wafers on the bottom of the dish.

Bananas layered on top of Nilla wafers in a glass bowl

Top with a layer of banana slices.

Whipped cream pudding mixture spread on top of bananas in a glass bowl

Spread 1/3 of the pudding mixture over the bananas.

Repeat the layers two more times, for a total of 3 layers of each ingredient. Decorate with whipped cream, Nilla wafers, and wafer crumbs on top, if desired. Cover tightly and chill for at least 4 hours and no more than 8 hours. This is enough time for the Nilla wafers to soften, but not so long that the bananas start to brown.

Side view of copycat Magnolia bakery banana pudding in a trifle dish

Tips For Making Pudding From Scratch

Do not boil the milk mixture. When first heating the sugar/milk/sweetened condensed milk mixture, you want it to be hot but not boiling. It can separate or curdle if boiled, plus it makes tempering the eggs more difficult.
Whisk constantly. You should be whisking the pudding mixture pretty much the entire time it’s over heat (and when tempering the eggs). It will over cook and stick to the pan quickly, giving you lumps.
Temper the eggs. To prevent scrambled egg yolks, it’s important to add a small amount of milk to the mixture and then a little more, before adding the eggs to the pan. Whisk continuously during this time. Trust me when I say you don’t want little chunks of cooked egg yolk in your pudding!
Let the pudding cool. Pop the pudding in the fridge, with plastic wrap touching the top to prevent a film on top, until it’s fully cooled. If it’s still warm, it will melt the whipped cream.
Fold in the whipped cream gently. It’s best to add it in two parts so it gets evenly distributed without deflating. Use a gentle folding motion instead of a stirring motion until no streaks of pudding remain.
Chill before serving. Banana pudding is best served after it’s been refrigerated for several hours, which gives the Nilla wafers time to soften. I recommend assembling it the morning of an afternoon picnic.

Overhead view of Magnolia Bakery banana pudding in a trifle dish

A Note On Bowl Size

I recommend assembling this Magnolia Bakery banana pudding recipe in a large glass bowl, such as a trifle dish. Look for one with a 4-5-quart capacity. It looks so pretty when layered and visible through the glass. You can also assemble it in individual glass dishes, if you want to be a bit fancy.

Another option is to use a 9×13 baking dish. For that size, you’ll just use one layer of Nilla wafers and one layer of bananas, with the pudding on top.

Can I Prep This Ahead?

Because the bananas will brown over time, you don’t want to put everything together too soon. However, you could layer it all in the evening, let it sit overnight (roughly 8 hours), and have it ready to serve in the morning.

The other option would be to prep the pudding until the point where you refrigerate it, then finish everything when you’re ready, taking into account the time it sits in the fridge.

Proper Storage

This copycat Magnolia Bakery banana pudding is best enjoyed within the first day or two after it’s prepared, after it’s chilled for 4-8 hours. Over time, the bananas start brown. It’ll still taste great, though, so you can likely continue enjoying leftovers for another day or 2.