The Apple Card Savings Account rate has dropped again. As of May 28, 2025, Apple and Goldman Sachs lowered the annual percentage yield (APY) from 3.75% to 3.65%. This is the second rate cut this year and the lowest rate since the account launched in April 2023.
This latest adjustment brings the account’s APY in line with Goldman Sachs’ own Marcus savings account. The move follows a steady decline from the peak rate of 4.5% reached in January 2024. The cuts reflect broader economic shifts and align with a cooling trend in benchmark interest rates.
A History of Rate Changes
The Apple Card Savings Account originally launched with a 4.15% APY. After modest increases through late 2023 and early 2024, the rate began to decline. Reductions were made in April, September, October, and December of 2024. The trend continued with a drop to 3.75% in March 2025, followed by this week’s further reduction to 3.65%.
Despite the cuts, the account still offers a higher rate than the national average. It remains competitive with other high-yield savings options, including those from Ally, Discover, and American Express, all currently offering 3.60%. Some rivals, such as Pibank and Openbank by Santander, offer significantly higher rates, with APYs reaching up to 4.60%.
Features Remain Unchanged
The Apple Card Savings Account remains available only to Apple Card holders. You can deposit Daily Cash rewards directly or add funds from a linked bank account or Apple Cash balance. Interest compounds daily and is paid out monthly. There are no fees, no minimum deposits, and no balance requirements. The maximum account balance allowed is $1 million.
To open an account, go to the Wallet app, tap your Apple Card, select the three-dot icon, tap Daily Cash, and follow the steps under the Savings option.
According to previous reporting by The Wall Street Journal, Goldman Sachs is expected to exit its consumer lending partnership with Apple. While no official decision has been announced, Barclays, Synchrony, and JPMorgan Chase have reportedly shown interest in taking over. Visa or American Express may also replace Mastercard as the Apple Card’s payment processor.
Users can still earn more than the Apple Card’s 3.65% APY through other financial institutions. However, the ease of integration with Apple’s ecosystem continues to be a draw for many.
