Apple Card Savings Account Interest Rate Drops to 3.9%, Lowest Since Launch

The high-yield account, introduced in 2023 with Goldman Sachs, sees its fourth rate cut this year as Federal Reserve adjustments impact APYs.

Apple Card's savings account APY has decreased to 3.9%, down from its peak of 4.5% earlier in 2024.
This marks the fourth interest rate reduction for the account in 2024, influenced by changes in Federal Reserve benchmark rates.
The account, available to U.S. Apple Card holders, offers no fees, no minimum deposits, and a $1 million maximum balance limit.
Goldman Sachs, Apple's current partner for the savings account, reportedly plans to exit its consumer lending partnership with Apple, with JPMorgan speculated as a potential replacement.
Despite the rate cut, the account remains competitive compared to other high-yield savings options, though several providers now offer higher APYs.