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Oconee State Bank Review

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Oconee State Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Oconee State Bank started in 1960 with headquarters located in Watkinsville, Georgia. It has $355 million in assets and deposits totaling $324 million, making it a small bank. Oconee State Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a score of 4 stars out of 5, Oconee State Bank should be near the middle of the pack in your search for a bank. Oconee State Bank provides customers with a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Oconee State Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Oconee State Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for gaining the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Oconee State Bank features a savings rate of 0.15%, which is poor compared to other U.S. banks. Oconee State Bank's one-year CD has a rate of 0.40% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account has an APY of 0.25%. Given Oconee State Bank's poor savings rate, you should think about looking at the competition to open savings accounts.

How Oconee State Bank's Savings Rates Compare

Oconee State Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Oconee State Bank typically has average fees in comparison to other U.S. banks. With no monthly fee, Oconee State Bank is perfect for those who want a basic checking account. For those who often withdraw money from the ATM, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable in comparison to other U.S. banks. Also, it has an overdraft fee of $35.00, which is on par with the average overdraft fee charged by U.S. banks. Oconee State Bank unfortunately does not reimburse out-of-network ATM charges, which means you will need to search for an Oconee State Bank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Oconee State Bank is a brick-and-mortar bank, with four total bank locations in Georgia. With mobile and web apps, Oconee State Bank makes mobile banking straightforward, even on the go. Oconee State Bank's online and mobile banking services receive poor scores from users. Out of 12 customer reviews on iOS and Android platforms, the Oconee State Bank mobile app has an overall rating of 3.2 out of 5 (compared to the national average of 3.8). Oconee State Bank's mobile app lets you manage your bank accounts by looking at monthly statements, transferring money and accessing customer service. Oconee State Bank gets an exceptional consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Oconee State Bank is a small bank owning $355 million in assets as well as deposits totaling $324 million. Oconee State Bank's Texas Ratio is 0.29%, indicating that the bank is in outstanding financial condition and improbable to fail. Additionally, Oconee State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Oconee State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.70% APY
  • 48 Month: 0.90% APY
  • 60 Month: 1.00% APY
$500 for all terms
Money Market Account 0.2% APY $2500

Oconee State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Oconee State Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Oconee State Bank's CD rates are fair in comparison to the national average.

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Find a Oconee State Bank Near Me

Oconee State Bank has four physical branches in the U.S.

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