Money stored in Apple Card Savings accounts just started earning more interest. Goldman Sachs, the bank that backs these accounts, raised the interest rate to 4.25%.
This is a far higher rate than most savings accounts available to consumers.
Apple Card Savings accounts now pay 4.25% in interest annually
Since April 2023, money earned from Apple Card’s cash-back program can automatically go into a high-yield savings account. Plus, users of Apple’s credit card can bring in money from other accounts that pay a lower interest rate.
And it’s not hard to find accounts with lower rates. A Wells Fargo one pays 0.15%, for example, and Bank of America pays 0.1%.
But an Apple Card Savings account now pays 4.25%, a bump up from the previous rate: 4.15%. That’s the APY — Annual Percentage Yield — of course.
Put your money to work
With U.S. inflation down to 3.1%, the dollars stored in an Apple Card Savings account are genuinely increasing in value.
That makes it a much better option than stuffing the cash in a drawer. Or even putting it in a low-yield account from another bank.
Read the Cult of Mac guide on how to sign up for Apple Card Savings and start earning significant interest.
