Tonight, Apple has once again lowered the interest rate for its Apple Card Savings Account. It now earns just 3.75% APY, down from the 3.9% APY that it offered prior.
This marks the first APY cut of 2025. Apple last lowered the interest rate on December 4th, 2024 – from 4.1% APY to 3.9% APY.
These interest rate cuts follow an industry trend of falling interest rates.
Apple Card interest rate history
Apple introduced the Apple Card Savings Account in April 2023 with a 4.15% APY. The account received a number of increases since its introduction, increasing to 4.25% in December 2023, 4.35% in early January 2024, and then 4.5% in late January 2024. It stayed at 4.5% for a few months, then we got some cuts afterwards.
The first interest rate cut took place in April 2024, being reduced to 4.4%. The federal reserve cut rates in September, and then Apple promptly lowered rates again, bringing the rate down to 4.25% on September 24th. In October, the rate was cut to 4.1%, followed by the aforementioned cut to 3.9% in December.
The vast majority of these interest rate cuts have been in response to Federal Funds Rate changes. Goldman Sachs currently issues the Apple Card Savings Account, though that may change sometime soon.
The new Apple Card Savings Account rate 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.
Are you an Apple Card member? Do you utilize the savings account? Let us know in the comments.
My favorite Apple accessories on Amazon:
- Anker 25K Compact Power Bank with retractable cable
- MOFT Magnetic Wallet Stand, fits up to 3 cards
- AirTag 4-pack (on sale for 30% off!)
- Anker MagSafe 2-in-1 Wireless Charging Stand with Qi2
- AirPods Pro 2 (USB-C)
- SanDisk Extreme 2TB USB-C SSD, up to 1050MB/s
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