Apple Notifies Users of Interest Rate Change in AppleCardSavingsAccount

TapTechNews September 25th news, the tech media 9to5Mac released a blog post yesterday (September 24th), reporting that Apple has informed AppleCardSavingsAccount savings users that the annual interest rate will be reduced from 4.4% to 4.25%.

TapTechNews attached the interest rate change situation for AppleCardSavingsAccount savings users as follows:

Within the first 8 months after the service was launched, the annual interest rate remained at 4.15%.

In December 2023, the annual interest rate was raised to 4.25%.

In early January 2024, the annual interest rate was raised to 4.35%.

In late January 2024, the annual interest rate was raised to 4.5%.

In April 2024, the annual interest rate was reduced to 4.4%.

Now, the annual interest rate is reduced to 4.25%.

The source believes that the change and adjustment of the annual interest rate for AppleCardSavingsAccount savings users is in line with expectations. The US Federal Reserve Board approved 50 basis points last week, so it is normal for the annual yield (APY) of the savings account to fluctuate after the Fed's interest rate change.