Apple Cuts Apple Card Savings Rate Again, Now Down to 3.4%

Apple has lowered the interest rate on Apple Card Savings accounts for the second time this year, dropping the annual percentage yield from 3.5% to 3.4%.

The change took effect this week, and account holders are being notified inside the Wallet app.

What changed

The Apple Card Savings account began 2026 with a 3.65% APY. That rate was cut to 3.5% in April, and it has now fallen again to 3.4%.

For savers, the difference is small in absolute terms. A balance of $1,000 held for a full year with no withdrawals would earn $34 in interest at the new rate.

The savings account is operated in partnership with Goldman Sachs, and the rate is adjusted periodically. A reduction on its own is nothing unusual.

Why this cut could matter more

The change comes as the future of the Apple Card itself remains uncertain. Goldman Sachs was reportedly unable to turn a profit on the partnership, and Apple is said to have struggled to find another bank willing to take it on.

Apple confirmed in early January that the card would move to Chase, with the transition expected to take around two years. That timeline points to a handover sometime in 2028.

Because Chase's own savings products tend to carry low rates, some observers expect Apple Card Savings yields to fall further once the switch is complete. It is not yet clear how the rate will be set under the new partnership.

How to check your rate

The updated rate appears in the Wallet app under Apple Card, then Savings Account. Account holders may also receive a push notification confirming the change if they have not seen it already.