Apple has cut the Apple Card Savings interest rate, lowering the annual percentage yield from 3.65% to 3.50%. The change took effect on April 23, 2026, with users notified through the Wallet app. This 0.15% drop marks the latest adjustment to Apple Card Savings and puts the focus back on how competitive the account remains.
Even after the cut, Apple Card Savings still offers a higher return than many traditional bank accounts, but it is no longer among the most aggressive high yield options. Rate changes are often tied to Federal Reserve decisions, though this particular update does not appear linked to a specific move, suggesting broader market trends are at play.
Apple introduced Apple Card Savings in April 2023 with Goldman Sachs as a simple, no fee way for Apple Card users to earn interest. The account is available to U.S. users and is fully integrated into the Wallet app on iPhone. There are no minimum deposit or balance requirements, and users can earn interest on Daily Cash rewards, Apple Cash balances, and transfers from linked bank accounts.
Ease of use continues to be a core part of the experience. Daily Cash can be automatically deposited into Apple Card Savings, allowing users to grow their balance without any extra steps. Apple has also expanded the maximum balance limit from $250,000 to $1,000,000, making the account more viable for users holding larger amounts of cash.
This Apple Card Savings interest rate cut also arrives as the Apple Card ecosystem prepares for a transition. In January 2026, JPMorgan Chase reached an agreement to take over Apple Card operations from Goldman Sachs, with the transition expected to take up to two years. A new Apple savings product under Chase is expected, but existing Apple Card Savings users will not be automatically moved and will need to choose whether to stay or switch.
For now, Apple Card Savings offers a 3.50% APY, which keeps it competitive but less compelling than before. For users who value tight integration with Apple’s ecosystem, the convenience may still outweigh the lower yield. Others focused on maximizing returns may start comparing alternatives more closely.
