Apple Card Savings Account APY Drops to All-Time Low of 3.75%

The rate reduction reflects Federal Reserve cuts and economic pressures, while speculation grows about Goldman Sachs' potential exit from the partnership.

• Apple Card Savings account's annual percentage yield (APY) has been reduced to 3.75%, its lowest rate since the account's launch in April 2023.
• The APY decline aligns with ongoing Federal Reserve interest rate cuts and broader economic challenges, including inflation.
• Despite the drop, the account remains slightly more competitive than many other high-yield savings accounts in the U.S. market.
• Goldman Sachs, Apple's financial partner for the account, is reportedly considering ending its partnership, with potential replacements like JPMorgan Chase, Synchrony, and Barclays being discussed.
• The account features no fees, no minimum balance requirements, and allows users to earn interest on Daily Cash rewards, with a recently increased maximum balance limit of $1 million.

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