Apple Card Savings Account Interest Rate Reduced to 3.4%
Apple has announced a reduction in the annual percentage yield (APY) for its Apple Card Savings account, lowering the rate from 3.5% to 3.4%. This adjustment affects users who utilize the savings feature linked to their Apple Card.
The decrease means that account holders will earn slightly less interest on their deposits. For example, a $1,000 deposit maintained for one year at the new 3.4% APY would yield $34 in interest, compared to $35 under the previous 3.5% rate.
This change continues a trend of declining interest rates for the Apple Card Savings account. Since its launch in April 2023 with an initial APY of 4.15%, the account has experienced several rate adjustments. Notably, the APY was reduced to 3.75% in March 2025 and further decreased to 3.65% in May 2025. In April 2026, the rate was lowered again to 3.5%.
The Apple Card Savings account, offered in partnership with Goldman Sachs, is designed to provide Apple Card users with a convenient way to earn interest on their Daily Cash rewards and additional deposits. Managed directly through the Wallet app on iPhone, the account features no fees, minimum deposits, or balance requirements.
While the recent rate reduction is modest, it reflects broader trends in the financial sector, where savings account interest rates are influenced by changes in the Federal Reserve’s policies and overall economic conditions. Despite the decrease, the Apple Card Savings account remains competitive compared to many traditional banks, which often offer lower interest rates.
Account holders are encouraged to monitor their savings strategies and consider how these rate changes align with their financial goals. Staying informed about interest rate trends can help users make decisions that best suit their individual needs.
