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. If you’re interested in learning more about the Apple Savings APY, check out the latest details on Apple Card’s savings interest rate.
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.
