Apple and Goldman Sachs have been making adjustments to the interest rate on the Apple Card Savings account recently. The Savings account was launched about a year ago, offering an annual percentage yield (APY) of 4.15% for the first eight months. Since then, the rate has seen several changes:<\/p>\n
\u2013 In December, it increased to 4.25%
\n\u2013 Early January saw another bump to 4.35%
\n\u2013 Later in January, it went up even further to 4.5%<\/p>\n
However, it seems that the savings account is now gearing up for its first-ever interest rate decrease. According to reports from MacRumors, the APY is expected to shift to 4.4% starting April 3. Although this information comes from data on Apple\u2019s backend, neither Apple nor Goldman Sachs has officially confirmed this change yet.<\/p>\n
Once the rate adjustment takes effect, Apple will likely notify Apple Card Savings account users through a push notification in the Wallet app.<\/p>\n
Even with the rate dropping slightly to 4.4%, the Apple Card Savings account remains competitive compared to other high-yield savings accounts in the market:<\/p>\n
\u2013 Marcus savings account by Goldman Sachs offers a 4.5% APY
\n\u2013 American Express provides a 4.35% APY
\n\u2013 UFB Direct boasts a 5.25% APY<\/p>\n
The Apple Card Savings account is exclusively available for Apple Card users who earn Daily Cash rewards. Users can choose to have their cash automatically deposited into the high-yield Savings account in the Wallet app, where they can also add more money from a linked bank account or their Apple Cash balance.<\/p>\n
Interest on this account gets compounded daily and paid out at the end of each month.<\/p>\n
Currently, there are millions of users with over $10 billion collectively held in associated Savings accounts through the Apple Card platform. While Apple manages the card through its app interface, Goldman Sachs handles backend operations.<\/p>\n
Stay tuned for more updates on this evolving situation!<\/p>","protected":false},"excerpt":{"rendered":"
Apple and Goldman Sachs have been making adjustments to the interest rate on the Apple Card Savings account recently. The Savings account was launched about a year ago, offering an annual percentage yield (APY) of 4.15% for the first eight months. Since then, the rate has seen several changes: – In December, it increased to […]<\/p>\n","protected":false},"author":9,"featured_media":224700022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":255,"footnotes":""},"categories":[255],"tags":[],"class_list":["post-224700021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apple-tips-news"],"_links":{"self":[{"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/posts\/224700021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/comments?post=224700021"}],"version-history":[{"count":0,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/posts\/224700021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/media\/224700022"}],"wp:attachment":[{"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/media?parent=224700021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/categories?post=224700021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phonescanada.com\/fr\/wp-json\/wp\/v2\/tags?post=224700021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}