Apple and Goldman Sachs have announced another rate cut for Apple Card Savings Account. Starting today, Apple Card Savings Account offers a 3.90% annual percentage yield, down from 4.10%.
Apple Card Savings Account started with a 4.15% interest rate for the first eight months of availability. The rate increased to 4.25% in December of last year, then again to 4.35% in early January and to 4.5% in late January. The rate was then cut back to 4.4% in April and then reduced to 4.25% in late September.
In October, Apple adjusted the Apple Card Savings Account rate once again, lowering it to 4.10%.
Now, as of December 4, 2024, the Apple Card Savings Account offers a 3.90% APY. This matches the rate that Goldman Sachs offers through its own Marcus savings account, though you can earn a bonus rate with this link for a limited time.
Apple and Goldman Sachs, like all financial institutions, adjust the interest rate based on overall economic conditions.
The Apple Card Savings Account is an exclusive feature for Apple Card holders. As you earn Daily Cash rewards with your Apple Card, you can easily transfer them into the high-yield savings account within the Wallet app.
In addition to transferring Daily Cash directly, Apple Card users can also add funds from a linked bank account or their Apple Cash balance. The interest is compounded daily, meaning you earn interest on both your initial deposit and the accumulated interest over time. At the end of each month, the interest is paid out into your savings account.
For more detailed information about the Apple Card Savings Account, visit our comprehensive guide right here.
