Top savings accounts offer up to 4.1% APY
The national average savings account rate stands at 0.38%.
Some savings accounts are currently offering 4% APY and higher.
The highest savings account rate available is 4.1% APY, offered by CIT Bank.
A $1,000 deposit at the average interest rate of 0.38% would yield $1,003.81 after one year with daily compounding.