Apple Boosts Apple Card Savings Account Interest Rate to 3.5%

Apple Card Savings Account holders have reason to rejoice as Apple and Goldman Sachs have increased the interest rate on the account. The rate has been bumped up from 3.4% to 3.5%, a move that mirrors the rate offered by Goldman Sachs through its Marcus savings account.

This change reflects broader financial conditions, which can cause banks to adjust their annual percentage yields. Apple Card users have access to an exclusive savings account, where they can transfer Daily Cash rewards or add funds from linked bank accounts or Apple Cash balances.

The interest compounds daily, meaning users earn returns on both their initial deposit and the accrued interest over time. This accumulated interest is then paid directly into the savings account at the end of each month.