Apple Card Savings Rate Slips to New Low of 3.65%
Goldman Sachs’s reported plans to exit the partnership have prompted Apple to weigh alternative banking partners
Overview
- Apple and Goldman Sachs lowered the account’s APY from 3.75% to 3.65% on May 28, marking the second cut of 2025
- Since its April 2023 launch at 4.15%, the yield peaked at 4.5% in early 2024 and has fallen steadily
- The fee-free account carries no minimum deposit or balance requirements and now accepts up to $1 million
- Apple Card holders earn daily-compounded interest on both Daily Cash rewards and deposited funds with monthly payouts
- Sources say Barclays, Synchrony and JPMorgan Chase are among contenders to replace Goldman Sachs if it departs