Apple Boosts Savings Account with Higher Interest Rate – Don’t Miss Out!

Apple Card Savings Account Interest Rate Sees First Increase

In a recent announcement, Apple and Goldman Sachs revealed a slight bump in the interest rate for the Apple Card Savings Account. Previously set at 4.15% APY, the interest rate has now been increased to 4.25% APY, according to a report by 9to5Mac. Apple Card Savings Account users were notified of the change through a push notification sent via the Wallet app.

The Apple Card Savings Account, exclusively available to Apple Card users, allows for the automatic deposit of Daily Cash rewards into a high-yield savings account within the Wallet app. Users also have the option to add extra funds using a linked bank account or their Apple Cash balance. Interest accumulates daily and is distributed at the end of each month.

This increase in the interest rate is good news for Apple Card Savings account holders, as it means higher interest earnings on their savings. The Apple Card, which operates through the Wallet app, has amassed millions of users collectively holding over $10 billion in associated savings accounts. While Apple manages the card through its app, the backend operations are handled by Goldman Sachs.

However, rumors have emerged about a potential end to the partnership between Apple and Goldman Sachs. Reports have suggested that Apple is exploring new partnerships for its Apple Card, with J.P. Morgan’s Chase being mentioned as a potential replacement for Goldman Sachs.

While nothing has been confirmed, the increase in the interest rate for the Apple Card Savings Account comes as a positive development for users, signaling Apple’s continued commitment to providing value for its customers. Stay tuned for further updates on the future of the Apple Card partnership.