The Apple Card Savings Account will have its first interest rate decrease from 4.5% to 4.4% as discovered on Apple’s backend data.
The backend data was discovered by Aaron Perris and leaked online. Beginning April 3, the annual percentage yield for the high-yield savings account will go down to 4.4% from 4.5%. The change is not that drastic and makes the account savings competitive versus other accounts, which range from 4.25% to 5.25%.
Apple Card savings account launched in April 2023 with Goldman Sachs handling the financial side. Savings accounts are managed in the iPhone’s Wallet app and offers no minimum deposits, minimum balance requirements, or fees. The requirement for opening account is to be at least 18 years old and a US resident, as well as an active Apple Card account. Users can open a savings account by going to Apple Card, tap on the three dots, then select Daily Cash and Set Up Savings.
