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.
