Apple Card Savings Account APY Drops to 3.75%, Lowest Since Launch

Apple notifies depositors of the rate cut, reflecting Federal Reserve policies and ongoing economic challenges.

Apple has reduced the Apple Card Savings Account APY to 3.75%, down from 3.9%, marking its lowest rate since the account's launch in April 2023.
The savings account debuted with a 4.15% APY, which peaked at 4.5% in January 2024 before a series of reductions began later that year.
The latest rate cut aligns with broader financial industry trends driven by Federal Reserve interest rate reductions in late 2024.
Apple has informed customers of the change, which may lead some depositors to reassess their savings options despite the account remaining competitive.
Uncertainty continues over Goldman Sachs' potential exit as the issuing partner for the Apple Card Savings Account, adding complexity to its future outlook.