Apple has raised the annual percentage yield on its Apple Card Savings account from 3.4% to 3.5%, the first increase after two reductions earlier this year. The change took effect September 22, 2026.
A $1,000 balance left untouched for a full year would now earn $35 in interest instead of $34. Interest compounds daily and is credited monthly. Existing account holders do not need to do anything; the new rate applies automatically.
The 3.4% rate had been a low point for the product. In April 2026 the APY fell from 3.65% to 3.5%, then dropped again in June to 3.4%. At launch in 2023 the account offered 4.15%. It later reached a high of 4.5% in January 2024.
Apple Card Savings is a high-yield savings account available to Apple Card customers. It is designed for parking cash while earning more than a typical brick-and-mortar savings rate, which can sit near 0.01% at some banks. Even at 3.5%, the yield remains well below the product’s earlier peaks and below the federal funds rate after recent policy moves.
Some users noted the modest 0.10-percentage-point increase compared with a larger Federal Reserve hike. Banks typically keep a spread between the rates they pay depositors and the rates they earn elsewhere; that spread funds operations and profit. Customers who want a rate closer to the policy rate can buy Treasuries directly.
MacDailyNews Take: The account remains a convenient option for Apple Card holders who want daily compounding, Wallet integration, and FDIC insurance through Goldman Sachs without opening a separate traditional bank account. Whether the rate continues climbing will depend on broader interest-rate conditions and how aggressively Apple and its banking partner choose to compete for deposits.
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