Apple Card Savings Account Interest Rate Reduced by Apple

Apple has further reduced the interest rate on its Apple Card Savings Account. It now offers an APY of only 3.75%, reduced from the previous 3.9% APY.

This is the first reduction of the APY in 2025. On December 4, 2024, Apple reduced the interest rate from an APY of 4.1% to one of 3.9%.

These reductions in interest rates are in line with the industry trend of decreasing interest rates.

Historical interest rates for the Apple Card

In April 2023, Apple launched the Apple Card Savings Account, offering a 4.15% APY. Since its launch, the account has seen several increases, reaching 4.25% in December 2023, 4.35% in early January 2024, and then 4.5% by late January 2024. It remained at 4.5% for several months, after which we received some reductions.

In April 2024, the interest rate was cut for the first time, decreasing to 4.4%. After the federal reserve reduced rates in September, Apple followed suit by further lowering rates to 4.25% on September 24th. The rate was reduced to 4.1% in October, and then, as previously mentioned, it was further cut to 3.9% in December.

Most of these reductions in interest rates have been a reaction to changes in the Federal Funds Rate. Currently, Goldman Sachs issues the Apple Card Savings Account, but this may change in the near future.