After cutting interest rates on Apple Card savings accounts last month, Apple and Goldman Sachs have cut rates again. This change was communicated to customers on Thursday evening and is expected to take effect on Friday, October 11th.
Interest rates on Apple Card savings accounts are being lowered again.
The Apple Card Savings Account started with an interest rate of 4.15% for the first eight months of availability. It rose to 4.25% in December last year, rose again to 4.35% in early January, and rose to 4.5% in late January. The interest rate was then lowered to 4.4% in April and 4.25% in late September.
The interest rate has now been reduced to 4.10%. Changes in savings account interest rates are subject to decisions by the U.S. Federal Reserve and are expected to change in these cases.
The Apple Card Savings Account is a benefit available only to Apple Card holders. Customers can automatically deposit their daily cash into a high-yield savings account within the Wallet app. Apple Card users can also add funds from their linked bank account or Apple Cash balance.
For those unfamiliar, the Apple Card is a credit card designed by Apple and backed by Goldman Sachs. We offer a variety of perks and perks, including 0% financing on Apple products. The Apple Card application process is very easy. Once you’re invited to apply, you can do so directly in the Wallet app on your iPhone.
To learn more about Apple Card Savings Account, check out this detailed guide.
Please also read
FTC: We use automated affiliate links that generate income. more.
