Apple Card savings rate increased again — Interest now 4.5% after second increase in just one month

Apple Card held in hand
(Image credit: Christine Romero-Chan / iMore)

If you have been saving money with your Apple Card, things have just gotten a bit better. 

As spotted by @aaronp613 on Twitter, the Apple Card savings rate has increased from 4.35% to 4.50%. This means it has grown from 4.15% to 4.50% in just a single month.

Announced just last April, the Apple Savings account is an American-only option that has no fees and no minimum deposits. The account is exclusive to Apple users and has no minimum balance requirements, so you can start saving regardless of your income —you simply need to be over 18 years old and need to have an Apple Card in “good standing.” The maximum account balance for Apple Card savings is $250,000 per person. 

A better incentive — iMore’s take

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Goldman Sachs has reportedly lost upwards of $1 billion since it began its relationship with Apple, and the banking firm will finally end its deal with the company over the next year or so. This extra savings rate bump, made by Goldman Sachs, is a big incentive to continue using Apple’s banking platform in the middle of that uncertainty, and it gives the banking firm more capital to work off to make future investments. The more that potential users continue to save, the more capital banks have. 

As pointed out by MacRumors, this places Apple’s interest rate above American Express, Barclays, Capital One, and Ally, who all have a 4.35% rate, but below Wealthfront, Synchrony, and Betterment. At 4.15%, the rate Apple Savings launched at last year, Apple was behind its competition, but fewer barriers to entry still made it a worthwhile investment. Now, not only is it easy to sign up for an Apple Card, but it sits in the middle of the pack for its interest compensation. 

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James Bentley

James is a staff writer and general Jack of all trades at iMore. With news, features, reviews, and guides under his belt, he has always liked Apple for its unique branding and distinctive style. Originally buying a Macbook for music and video production, he has since gone on to join the Apple ecosystem with as many devices as he can fit on his person. 


With a degree in Law and Media and being a little too young to move onto the next step of his law career, James started writing from his bedroom about games, movies, tech, and anything else he could think of. Within months, this turned into a fully-fledged career as a freelance journalist. Before joining iMore, he was a staff writer at Gfinity and saw himself published at sites like TechRadar, NME, and Eurogamer. 


As his extensive portfolio implies, James was predominantly a games journalist before joining iMore and brings with him a unique perspective on Apple itself. When not working, he is trying to catch up with the movies and albums of the year, as well as finally finishing the Yakuza series. If you like Midwest emo music or pretentious indie games that will make you cry, he’ll talk your ear off.