Apple lowers the interest rate on its Apple Card Savings account, reducing the annual percentage yield (APY) from 3.5% to 3.4%, according to reports from MacRumors and 9to5Mac. MacRumors says the change applies this week and notes that a $1,000 deposit held for one year would earn $34 in interest at the new APY. 9to5Mac provides additional context, stating that the savings account previously earned 3.65% earlier this year. It then reports that Apple cut the rate in April to 3.5%, and that the latest reduction marks a second cut. Both outlets present the update as an adjustment to the savings account’s variable interest rate. The articles also indicate that further rate changes are possible, though they do not specify timing or amounts beyond the current 3.4% APY.
Apple Card Savings Account APY cut to 3.4%
Apple lowers the interest rate on its Apple Card Savings account, reducing the annual percentage yield (APY) from 3.5% to 3.4%, according to reports from MacRumors and 9to5Mac. MacRumors says the chan...
- Apple Card Savings account APY is reduced from 3.5% to 3.4%.
- The change is reported as occurring this week.
- Earlier this year the APY was 3.65%.
- The APY was cut in April to 3.5% before the latest reduction.
- At 3.4% APY, $1,000 held for one year would earn $34 in interest.
Earlier this year, the Apple Card Savings account earned an interest rate of 3.65%. This was cut in April to 3.5%. The rate has just been cut for a second time, and there may be more significant reductions further ahead … more…
2 months agoThe annual percentage yield (APY) for the Apple Card's savings account was lowered from 3.5% to 3.4% this week. If you deposited $1,000 and maintained that balance for one year, you would earn $34 in interest at the current APY. Tag: Apple CardThis article, "Apple Card Savings Account's Interest Rate Lowered" first appeared on MacRumors.comDiscuss this article in our forums
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