In a large bowl, beat 8 ounce block cream cheese, softened to room temperature with an electric mixer on medium speed until smooth and fluffy.
Add in 14 ounce can sweetened condensed milk, 5 ounce box INSTANT vanilla pudding mix, 3 cups milk and 2 teaspoons vanilla extract. Mix until combined well (this can take a few minutes so be patient for it all to come together.)
Finally, stir in half of the whipped topping.
To layer: place one-third of the Nilla wafers in a layer on the bottom of a trifle dish, large bowl or a 9x13-inch baking dish.
Add a single layer of sliced bananas.
Then pour one-third of the pudding mixture on top (enough to cover all the bananas).
Continue with two more layers.
Top with remaining whipped topping.
Cover with plastic wrap and refrigerate for at least one to two hours before serving so it can thicken up and the wafers can soften.
Video
Notes
Please refer to my FAQ’s and ingredient list above for other substitutions or for the answers to the most common questions.
Please pay attention to the pudding you’re buying. It needs to be INSTANT not ‘Cook and Serve’. They are near each other on store shelves. Cook and Serve WILL NOT WORK!
Also, be sure you are grabbing a can of sweetened condensed milk and not evaporated milk. This dessert will not set up and it won't be as sweet.
Banana Cream Pudding flavor can be substituted for the vanilla pudding. Alternatively, banana extract can be substituted for the vanilla extract.
It's very important to make sure the cream cheese is at room temperature. If not, you won't be able to get it super smooth and you'll end up with lumps.
Bananas obviously come in many sizes so I say 5-7 bananas depending on the size of the bananas you purchase. I like a lot of fresh banana in my banana pudding but you should bo by your personal preference.