Apple again cuts interest rate for Apple Card Savings Account

Apple and Goldman Sachs have announced another interest rate cut for the Apple Card Savings Account. This follows a previous rate reduction last month and brings the interest rate down to 4.10%. The change will take effect on Friday, October 11th.

The Apple Card Savings Account initially offered a 4.15% interest rate for the first eight months. Since then, the rate has fluctuated, reaching a high of 4.5% in late January before declining to its current level. These interest rate changes are in line with decisions made by the U.S. Federal Reserve.

Exclusive to Apple Card holders, the Apple Card Savings Account allows customers to automatically deposit their Daily Cash into the high-yield savings account within the Wallet app. Additionally, users can transfer funds from linked bank accounts or their Apple Cash balance.

The Apple Card is a credit card jointly developed by Apple and Goldman Sachs. It offers a range of perks and rewards, including 0% financing on Apple products. Applying for the Apple Card is a simple process that can be completed directly within the Wallet app on your iPhone.
‎
MacDailyNews Take: The process of rotating cash out of Apple Card Savings into better investments continues.

We are currently about 1/5th of the way to being sustainable with Substack subscriptions.

Not a bad start!

Please tell your Apple-loving friends about MacDailyNews on Substack and, if you’re currently a free subscriber, please consider $5/mo. or $50/year to keep MacDailyNews going. Just hit the subscribe button. Thank you!

Read on Substack

‎
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post Apple again cuts interest rate for Apple Card Savings Account appeared first on MacDailyNews.