CIT Bank leads with a 4.10% APY savings rate as deposit yields decline following Federal Reserve rate cuts in 2024-2025.
High-yield savings accounts are offering rates up to 4.10% APY as of May 29, 2026, despite a downward trend in deposit interest rates. The Federal Reserve’s rate cuts in 2024 and 2025 reduced yields from historic highs, though some banks remain competitive.
The national average savings account rate stands at 0.38%, according to the FDIC. Online banks, with lower overhead costs, continue to provide rates more than 10 times the national average, with CIT Bank offering the highest verified rate.
While the Fed has held rates steady in 2026, savers can still secure elevated yields by comparing offers from online institutions and credit unions.