Best Savings Account Rates - Don't Settle for Average

Average savings account rates continue to fall, with average online savings accounts yielding 0.85% APY and average local savings account rates at 0.23% APY. But there's no reason to settle for average savings rates. We looked through our database of over 6,000 banks and 6,000 credit unions to find the best rates across the country.

Best Savings Account Rates

Credit Unions in Georgia took the top three spots on the best of the best rate tables this week.

1. AFLAC Federal Credit Union of Columbus, GA takes the top spot for its 2.410% APY for deposits up to $100,000. The credit union serves employees and employee families of Aflac Incorporated. The credit union has $167 million in assets. Its Texas Ratio is 15.88%, higher than the national credit union average of 10.30%. The credit union is NCUA insured.
2. Floyd County Postal Employee Credit Union of Roma, GA is offering a 2.30% APY savings account with a $1 minimum deposit. The credit union serves postal employees of Floyd County and their families. The credit union is very small with $4.9 million in assets. Its Texas Ratio is 10.83% in line with the national average. The credit union is NCUA insured.
3. Genuine Parts Credit Union of Norcross, GA is offering a 2.02% APY savings account with a minimum deposit of $50. This is another small credit union with only $8 million in assets. The bank has a low Texas Ratio of 1.08%.

There are thousands of credit unions across the country offering excellent rates with low fees across the country. Find savings account rates from credit unions in your local area.

But if you don't want to join a credit union, there are many local banks offering rates well above the national average.

1. Reynolds State Bank in Reynolds, IL is offering a passbook savings account that pays 1.51% APY with a $100 minimum balance. The bank has $90 million in assets and was established in 1888. The bank's financials look excellent, with an extremely low Texas Ratio of 2.51%. The bank is FDIC insured.
2. People's Bank of Seneca in Seneca, MO is offering a 1.50% APY savings account rate. The bank has $90 million in assets and a low Texas Ratio of 7.75%. The bank was founded in 1996 and is FDIC insured.
3. The Victory Bank of Limerick, PA has a Fortress Savings Account that pays 1.35% APY with a $2,500 minimum balance. The bank has $100 million in assets and a low Texas Ratio of 4.19%. One factor beyind the low Texas Ratio may be the fact that the bank was founded in 2008 and most of its loans were give after the financial crisis.

Find the best savings account rates from local banks in your area.

Lastly, if you prefer to bank online, there are some very attractive online savings rates that are well above the national averages.

• CNB Bank Direct is offering the top online savings account rate at 1.05% APY. CNB Bank Direct is a division of The Citizens National Bank of Bluffton. The Citizens National Bank of Bluffton is an FDIC insured institution founded in 1920. It has approximately $0.56 billion in assets and a Texas Ratio of 19.9%.
• Personal Savings from American Express, the banking division of American Express is offering a 1.00% APY savings account. Personal Savings by American Express is a division of American Express Bank, FSB.. American Express Bank, FSB. is an FDIC insured institution founded in 2000. It has approximately $38.98 billion in assets and a Texas Ratio of 5.93%

View all online savings account rates.

All of the banks and most of the credit unions on BestCashCow have deposited insured by either the FDIC or the NCUA. That means you can get a higher rate with no additional risk to your money. That's easy money. At a time when bank rates are at record lows, you might as well earn the most that you can.