Savings Interest Rates Offer Up to 4.1% APY as of May 2026

As of May 31, 2026, the highest savings account rate is 4.10% APY offered by CIT Bank. The national average savings account rate is 0.38%, an increase from 0.06% three years ago, according to the FDIC. A $1,000 deposit at the average rate would yield $3.81 in interest over one year, while the same deposit at 4% APY would yield $40.81. This highlights the significant difference in earnings potential between average and high-yield savings accounts, which matters for investors seeking better returns.