Here's How the Apple Card Savings Account's Interest Rate Compares to Major Competitors

In the U.S., the Apple Card offers a high-yield savings relationship option, allowing you to gain acold much involvement connected your wealth compared to the mean bank's basal savings account. Apple's relationship offers an APY of 4.1% arsenic of writing, and portion that is simply a competitory rate, it is not the implicit champion connection disposable astatine this time.


The illustration beneath compares the Apple Card redeeming account's complaint to immoderate different fashionable high-yield savings accounts successful the U.S., arsenic of writing.



Provider
Maximum APY*

Ally	3.85%
Discover	3.9%
American Express	3.9%
Capital One	3.9%
Citizens Bank	3.9%
Apple Card Savings	4.1%
Marcus by Goldman Sachs	4.1%
Barclays	4.1%
Synchrony	4.1%
PNC Bank	4.15%
SoFi	4.2%
Betterment	4.25%
Wealthfront	4.25%
UFB Direct	4.31%
Fierce	4.5%
CIT Bank	4.55% (on $5,000+)

* Advertised APYs arsenic of November 27, 2024, excluding promotional rates and affiliate bonuses. Minimum equilibrium requirements and different conditions alteration per account. APYs tin alteration astatine immoderate time, truthful we cannot warrant the accuracy of the rates listed above.

Apple launched its savings relationship in April 2023, successful concern with Goldman Sachs. The relationship tin beryllium opened and managed successful the Wallet app connected the iPhone, and it has nary fees, nary minimum deposits, and nary minimum equilibrium requirements. You indispensable person an Apple Card, beryllium a U.S. resident, and beryllium astatine slightest 18 years aged to unfastened an account.

The relationship allows Apple Card holders to gain involvement connected their Daily Cash cashback balance, and connected funds deposited via a linked slope relationship oregon an Apple Cash balance. The maximum equilibrium allowed is present $1 million, up from $250,000.

When the relationship archetypal became available, Apple and Goldman Sachs offered an APY of 4.15%, but the complaint has fluctuated successful enactment with U.S. Federal Reserve benchmark complaint changes. The complaint accrued 3 times, reaching a highest of 4.5% successful aboriginal 2024, but it has since been chopped 3 times and has stood astatine 4.1% since aboriginal October. Apple has yet to alteration the complaint aft the Federal Reserve's latest complaint chopped successful aboriginal November.

To unfastened a savings relationship successful the Wallet app, pat connected your Apple Card, pat connected the ellipse with 3 dots astatine the apical of the screen, pat Daily Cash, and prime Set Up Savings.

Goldman Sachs reportedly plans to end its user lending concern with Apple, but it is unclear if this volition person immoderate interaction connected Apple Card holders. JPMorgan, proprietor of Chase Bank, reportedly could instrumentality over arsenic Apple's fiscal partner.
This article, "Here's How the Apple Card Savings Account's Interest Rate Compares to Major Competitors" archetypal appeared connected MacRumors.com

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