Here's How the Apple Card Savings Account's Interest Rate Compares to Major Competitors

In the U.S., the Apple Card offers a high-yield savings account option, allowing you to earn far more interest on your money compared to the average bank's basic savings account. Apple's account offers an APY of 4.1% as of writing, and while that is a competitive rate, it is not the absolute best offer available at this time.

apple card savings account feature
The chart below compares the Apple Card saving account's rate to some other popular high-yield savings accounts in the U.S., as of writing.

Provider APY*
Ally 3.85%
Discover 3.9%
American Express 3.9%
Capital One 3.9%
Citizens Bank 3.9%
Apple Card Savings 4.1%
Marcus by Goldman Sachs 4.1%
Barclays 4.1%
Synchrony 4.1%
PNC Bank 4.15%
SoFi 4.2%
Betterment 4.25%
Wealthfront 4.25%
UFB Direct 4.31%
Fierce 4.5%
CIT Bank 4.55% (on $5,000+)
Openbank by Santander 5%
Pibank 5.5% (dropping to 5% starting December 2)

* Advertised APYs as of November 27, 2024, excluding promotional rates and affiliate bonuses. Minimum balance requirements and other conditions vary per account. APYs can change at any time, so we cannot guarantee the accuracy of the rates listed above.

Apple launched its savings account in April 2023, in partnership with Goldman Sachs. The account can be opened and managed in the Wallet app on the iPhone, and it has no fees, no minimum deposits, and no minimum balance requirements. You must have an Apple Card, be a U.S. resident, and be at least 18 years old to open an account.

The account allows Apple Card holders to earn interest on their Daily Cash cashback balance, and on funds deposited via a linked bank account or an Apple Cash balance. The maximum balance allowed is now $1 million, up from $250,000.

When the account first became available, Apple and Goldman Sachs offered an APY of 4.15%, but the rate has fluctuated in line with U.S. Federal Reserve benchmark rate changes. The rate increased three times, reaching a peak of 4.5% in early 2024, but it has since been cut three times and has stood at 4.1% since early October. Apple has yet to change the rate after the Federal Reserve's latest rate cut in early November.

To open a savings account in the Wallet app, tap on your Apple Card, tap on the circle with three dots at the top of the screen, tap Daily Cash, and select Set Up Savings.

Goldman Sachs reportedly plans to end its consumer lending partnership with Apple, but it is unclear if this will have any impact on Apple Card holders. JPMorgan, owner of Chase Bank, reportedly could take over as Apple's financial partner.

Popular Stories

iPhone 17 Pro Dual Tone Feature 1

iPhone 17 Pro Launching Later This Year With These 8 New Features

Thursday January 9, 2025 5:45 am PST by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. iPhone 17 Pro concept based on rumors Below, we recap key changes rumored for the iPhone 17 Pro models as of January 2025: More aluminum: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models ...
HomePod mini and Apple TV

New Apple TV and HomePod Mini Launching This Year With One Thing in Common

Wednesday January 8, 2025 6:18 am PST by
It was recently reported that new Apple TV and new HomePod mini models will launch this year, and the devices are expected to have one thing in common. Bloomberg's Mark Gurman last month reported that the new Apple TV and the new HomePod mini will be equipped with Apple's own combined Wi-Fi and Bluetooth chip. Gurman said the chip supports Wi-Fi 6E, so that could end up being a key upgrade...
iPhone SE 4 Thumb 1

New iPhone SE and iPad 11 Launch Timing Allegedly Revealed by Leaker

Tuesday January 7, 2025 11:12 am PST by
A new iPhone SE and an iPad 11 might be coming very soon. In late December, a private account on X with a track record of leaking accurate iOS-related information said devices codenamed "V59" and "J481" will be released alongside iOS 18.3 and iPadOS 18.3. Bloomberg's Mark Gurman has previously reported that "V59" is a new iPhone SE, and that "J481" is a new entry-level iPad. iOS 15.3, iOS ...
M6 MacBook Pro Feature 1

5 Reasons to Wait for Next Year's MacBook Pro

Wednesday January 8, 2025 6:33 am PST by
Apple in October 2024 overhauled its 14-inch and 16-inch MacBook Pro models, adding M4, M4 Pro, and M4 Max chips, Thunderbolt 5 ports on higher-end models, display changes, and more. That's quite a lot of updates in one go, but if you think this means a further major refresh for the MacBook Pro is now several years away, think again. Bloomberg's Mark Gurman has said he expects only a small...
airpods pro 2 botw

Hearing a Mysterious Chime From Your AirPods Pro Case? It's a Feature

Thursday January 9, 2025 3:42 pm PST by
If you've been hearing a chiming sound from your AirPods Pro 2 case when the AirPods are charging, it's a feature that Apple added with the launch of Hearing Health last year. In a support guide, Apple says that the AirPods Pro may play a sound every so often while in the case to ensure the microphones and speakers are working as intended. From Apple: To help ensure that your AirPods...
iOS 18

Apple Releases iOS 18.2.1 With Bug Fixes

Monday January 6, 2025 10:07 am PST by
Apple today released iOS 18.2.1 and iPadOS 18.2.1, minor updates to the iOS 18 and iPadOS 18 operating systems. iOS 18.2.1 and iPadOS 18.2.1 come almost a month after Apple released iOS 18.2 and iPadOS 18.2. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. According to Apple's release notes, iOS 18.2.1...
airpods 4 blue

Apple's Student Offer With Free AirPods Returns in These Four Countries

Thursday January 9, 2025 7:18 am PST by
Apple's annual "Back to School" or "Back to Uni" promotion has returned this week in Australia, New Zealand, Brazil, and South Korea. From January 8 through March 13, qualifying higher-education students and staff in these countries can receive free AirPods 4 with Active Noise Cancellation with the purchase of any new MacBook Air, MacBook Pro, or iMac, or a free Apple Pencil Pro or Apple...
LG UltraFine 6K Display TB5

LG Unveils UltraFine 6K Display With Thunderbolt 5 Support

Tuesday January 7, 2025 3:56 am PST by
LG has shown off a new Ultrafine 6K monitor at CES 2025. The 32-inch display is the first of its kind to support Thunderbolt 5, which Apple introduced late last year with the launch of new Mac mini and MacBook Pro models powered by M4 Pro chips. Details are scant, but we do know that the LG UltraFine 6K monitor (model 32U990A) features a Nano IPS Black panel, delivering a wide color gamut...

Top Rated Comments

Chazak Avatar
6 weeks ago

And here’s how it compares to Bitcoin: -152% ?
Bitcoin is an unrelated financial instrument. They have nothing to do with each other. Comparing bitcoin to a savings account makes no sense. I have to ask you what makes you think there is a valid comparison? It’s like comparing garlic to peaches. They are both food, but that’s as far as it goes.
Score: 21 Votes (Like | Disagree)
WarmWinterHat Avatar
6 weeks ago

Cryptocurrency is a way more stable investment than any stock or bank. I don't know who you gave your money to
Savings aren't investments, they are savings. Never conflate the two.
Score: 12 Votes (Like | Disagree)
sw1tcher Avatar
6 weeks ago

And here’s how it compares to Bitcoin: -152% ?
Pfft! You should invest in NFT's before they become popular again. Get in on the ground floor while you can.
Score: 9 Votes (Like | Disagree)
blinker Avatar
6 weeks ago
My mom left me her Hummel collection, so I figure I'm set for retirement.
Score: 6 Votes (Like | Disagree)
BigBellyBelcher Avatar
6 weeks ago

And here’s how it compares to Bitcoin: -152% ?
I keep a safety net 1 years expenses in savings. It’s easy to withdraw and it’s a sure thing will be there and won’t decrease in value unless USA totally flops and then only oil and food will have value.
Score: 5 Votes (Like | Disagree)
sw1tcher Avatar
6 weeks ago

Nah.... I'm all in on Pokemon cards. :)
Beanie Babies is where it's at.
Score: 5 Votes (Like | Disagree)