Apple has increased its savings account service again to 4.50% APY.
Apple Savings account holders have recently received notifications about a rate increase for their accounts. The APY for Savings Account has gone up from 4.35% APY to 4.50% APY this year, marking the third time the Cupertino-based company has done so. In early January, Apple increased the Savings Account rate to 4.35% from 4.25%.
The move by Apple puts the Savings Account service alongside high-yield savings accounts, notably Discover and American Express, as well as Marcus by Goldman Sachs. It’s worth noting that the service is only available in the US at this time, but there are plans to introduce Apple Savings Account in other regions in the future.
Apple Card users can earn interest via Daily Cash deposits as well as personal funds transferred to the account, with a maximum deposit of $250,000.
