Apple Cuts Apple Card Savings Account Interest Rate to 3.75% APY

Apple Lowers Interest Rate for Apple Card Savings Account

Apple has reduced the interest rate on its Apple Card Savings Account to 3.75% APY, down from the previous rate of 3.9%. This marks the first rate cut of 2025 and follows a trend of falling interest rates in the industry. The last reduction occurred on December 4, 2024, when the rate was lowered from 4.1% to 3.9%.

Since its introduction in April 2023 with an initial APY of 4.15%, the Apple Card Savings Account has seen several changes. It reached a peak of 4.5% APY in late January 2024, but has since experienced cuts following Federal Reserve rate adjustments. The majority of these reductions have been in response to changes in the Federal Funds Rate.

Goldman Sachs currently manages the Apple Card Savings Account, although this arrangement may change in the future.