Apple lowers interest rate for Apple Card Savings Account

Tonight, Apple has once again lowered the interest rate for its Apple Card Savings Account. It now earns just 3.75% APY, down from the 3.9% APY that it offered prior. This marks the first APY cut of 2025. Apple last lowered the interest rate on December 4th, 2024 – from 4.1% APY to 3.9% APY. These interest rate cuts follow an industry trend of falling interest rates. Apple Card interest rate history Apple introduced the Apple Card Savings Account in April 2023 with a 4.15% APY. The account received a number of increases since its introduction, increasing to 4.25% in December 2023, 4.35% in early January 2024, and then 4.5% in late January 2024. It stayed at 4.5% for a few months, then we got some cuts afterwards. The first interest rate cut took place in April 2024, being reduced to 4.4%. The federal reserve cut rates in September, and then Apple promptly lowered rates again, bringing the rate down to 4.25% on September 24th. In October, the rate was cut to 4.1%, followed by the a ... Read full article.