Apple Card Savings Account's Interest Rate Lowered to 4.4% Today

Following the Apple Card savings account's rate cut to a 4.4% APY, we have updated our high-yield savings accounts (HYSAs) comparison chart for U.S. residents.

apple card savings account feature
4.4% is still a competitive APY compared to many other popular high-yield savings accounts, which typically offer rates between 4.25% and 5.25%.

Provider Maximum APY*
Ally 4.25%
Discover 4.25%
American Express 4.35%
Barclays 4.35%
Capital One 4.35%
Apple (Goldman Sachs) 4.4%
Marcus (Goldman Sachs) 4.4%
Citizens Bank 4.5%
SoFi 4.6%
PNC Bank 4.65%
Synchrony 4.75%
Betterment 5%
Wealthfront 5%
CIT Bank 5.05%
UFB Direct 5.25%

* Advertised APYs as of April 3, 2024, excluding promotional and affiliate rates. APYs are subject to change at any time. This list is not comprehensive.

Apple launched its savings account in April 2023, in partnership with Goldman Sachs. The account can be opened and managed in the Wallet app on the iPhone, and it has no fees, no minimum deposits, and no minimum balance requirements. You must have an Apple Card, be a U.S. resident, and be at least 18 years old to open an account.

The account allows Apple Card holders to earn interest on their Daily Cash cashback balance, and on funds deposited via a linked bank account or an Apple Cash balance. The maximum balance allowed is now $1,000,000, up from a previous limit of $250,000.

When the account first became available, Apple and Goldman Sachs offered an APY of 4.15%. The rate then increased three times, first to 4.25%, then to 4.35%, and finally to 4.5%. The drop to 4.4% is the first time the rate has gone down.

To open a savings account in the Wallet app, tap on your Apple Card, tap on the circle with three dots at the top of the screen, tap Daily Cash, and select Set Up Savings.

Goldman Sachs reportedly plans to end its consumer lending partnership with Apple, but it is unclear if this will have any impact on Apple Card holders.

Top Rated Comments

magicschoolbus Avatar
2 weeks ago
Chase:0.000003
Score: 18 Votes (Like | Disagree)
Unregistered 4U Avatar
2 weeks ago
There should be an addition to the chart that lets folks know which one of these provide that APY with the requirement of “put your money here”. For example UFB looks great until you understand that if you don’t have $5,000 in there, there’s a $10 per month fee. In that case, someone just starting by putting their Apple Cashback into an account would be best served by going with Apple, at least until they get $5000 in there.
Score: 10 Votes (Like | Disagree)
bigboy29 Avatar
2 weeks ago
Meanwhile, treasury bonds still pay ~5.3%... Don't get me wrong, this is a good rate for a savings account but if you want to get the best rate, t-bills are the way to go.
Score: 9 Votes (Like | Disagree)
Biro Avatar
2 weeks ago

Chase:0.000003
Chase actually has what it calls a high-yield savings account that pays in the neighborhood of the others listed. But you must deposit at least $100,000 first. And they have repeatedly offered this deal to a number of people I know - with a straight face.
Score: 8 Votes (Like | Disagree)
nosnhojm Avatar
2 weeks ago
Goldman wants out of the consumer business; Apple needs continuity for Apple Card...why not purchase Goldman's consumer infrastructure and own the whole stack?
Score: 7 Votes (Like | Disagree)
magicschoolbus Avatar
2 weeks ago

Goldman wants out of the consumer business; Apple needs continuity for Apple Card...why not purchase Goldman's consumer infrastructure and own the whole stack?
If you mean Apple becoming a bank - pretty sure it's not that easy.
Score: 5 Votes (Like | Disagree)

Popular Stories

iPhone 16 Camera Lozenge 2 Colors

iPhone 16 Plus Rumored to Come in These 7 Colors

Wednesday April 10, 2024 3:52 am PDT by
Apple's iPhone 16 Plus may come in seven colors that either build upon the existing five colors in the standard iPhone 15 lineup or recast them in a new finish, based on a new rumor out of China. According to the Weibo-based leaker Fixed focus digital, Apple's upcoming larger 6.7-inch iPhone 16 Plus model will come in the following colors, compared to the colors currently available for the...
apple tv 4k yellow bg feature

When to Expect a New Apple TV to Launch

Tuesday April 9, 2024 8:30 am PDT by
It has been nearly a year and a half since the current Apple TV was released, so the device is becoming due for a hardware upgrade. Below, we recap rumors about the next Apple TV, including potential features and launch timing. The current model is the third-generation Apple TV 4K, announced in October 2022. Key new features compared to the previous model from 2021 include a faster A15...
apple silicon feature joeblue

Macs to Get AI-Focused M4 Chips Starting in Late 2024

Thursday April 11, 2024 10:10 am PDT by
Apple will begin updating its Mac lineup with M4 chips in late 2024, according to Bloomberg's Mark Gurman. The M4 chip will be focused on improving performance for artificial intelligence capabilities. Last year, Apple introduced the M3, M3 Pro, and M3 Max chips all at once in October, so it's possible we could see the M4 lineup come during the same time frame. Gurman says that the entire...
iOS 18 WWDC 24 Feature 2

iOS 18 May Feature All-New 'Safari Browsing Assistant'

Wednesday April 10, 2024 6:11 am PDT by
iOS 18 will apparently feature a new Safari browsing assistant, according to backend code on Apple's servers discovered by Nicolás Álvarez. MacRumors contributor Aaron Perris confirmed that the code exists, but not many details are known at this time. Álvarez said it seems like the browsing assistant will use iCloud Private Relay's infrastructure to send relevant data to Apple in a...
maxresdefault

Review: Six Months With the iPhone 15 Pro

Wednesday April 10, 2024 10:53 am PDT by
It's been a bit over six months since the iPhone 15 lineup came out in September, and MacRumors videographer Dan Barbera has been using an iPhone 15 Pro Max sans case since launch. Over on our YouTube channel, Dan did a long term review to demo how his phone has held up and his thoughts on the Action button, battery life, and camera features. Subscribe to the MacRumors YouTube channel for more ...
iPhone 16 Pro Sizes Feature

Alleged iPhone 16 Battery Details Show Smaller Capacity for One Model

Tuesday April 9, 2024 3:46 am PDT by
Apple's upcoming iPhone 16 lineup will feature bigger battery capacities compared to previous-generation models with the exception of the iPhone 16 Plus, which will have a smaller battery than its predecessor. That's according to the Chinese Weibo-based leaker OvO Baby Sauce OvO, a relatively new source of supply chain leaks with an as-yet unproven track record for accuracy. The iPhone 16 ...