Apple has adjusted the annual percentage yield (APY) for its Apple Card Savings Account, lowering it to 3.75%. This adjustment comes after a previous decrease in December 2024, when the APY was reduced from 4.1% to 3.9%. The Apple Card Interest Rate for the Savings Account, launched in April 2023 with an initial APY of 4.15%, experienced quiet a few increases before the recent series of reductions.
The company’s adjustments to the savings account’s APY are consistent with the current trend of declining interest rates within the financial sector. Apple’s rate changes have often been linked to changes in the Federal Funds Rate.
Currently, Goldman Sachs is the issuer of the Apple Card Savings Account. However, Apple has not ruled out the probable change of the issuing financial institution at some point in the future.
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