After a rate increase, cash stored in Apple Card Savings accounts now earns 4.35% in annual interest.
The change comes less than a month after the last improvement in the interest rate.
Apple Card Savings accounts now pay 4.35% in interest annually
Starting in spring 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 transfer cash 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% to 0.25%, for example, and Bank of America pays 0.01% to 0.04%.
But an Apple account now pays 4.35%, a bump up from the previous rate of 4.25%. And that rate only went into place in December 2023 — before that, it was 4.15%.
These are the Annual Percentage Yields, of course. And interest is compounded daily. So now $100 in an account earns $4.35 a year. The money is divided up monthly, of course.
Make your money work for your
With U.S. inflation down to 3.1%, the dollars stored in an Apple Card Savings account are genuinely increasing in value. Plus, there are no fees.
These benefits make an account 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.
Ed Hardy has been writing full-time about tech for 25 years, and using it for much longer than that. His intro to Apple was a Macintosh Classic II (which he still has), but now he uses a 13-inch iPad Pro as his primary computer. He’s written for NotebookReview, TabletPCReview, and Brighthand, as well as other sites.
