In a mixing bowl, mash the ripe bananas. Add flour, sugar, baking powder, cinnamon, and salt. Stir in the milk, egg, and vanilla extract until smooth.
Pour about 2 inches of vegetable oil into a deep pan or skillet. Heat over medium heat until it reaches 350°F (175°C).
Drop spoonfuls of batter into the hot oil, frying in batches. Cook for about 2-3 minutes per side or until golden brown and crispy. Remove and drain on paper towels.
Dust the fritters with powdered sugar and serve warm. Enjoy them as is or with a drizzle of honey or chocolate sauce!