Apple has announced another reduction to its Apple Savings account interest rate, bringing it down to 3.65% as of May 28, 2025. The move marks the latest in a series of cuts since January 2024, when the rate peaked at 4.5%.
This downward trend follows recent decisions by the Federal Reserve to lower its own rates in response to ongoing economic uncertainty. Apple’s financial offerings, including the Apple Card Savings Account, have mirrored these national shifts.
Users Notified of Rate Drop
Apple Savings users began receiving notifications this week informing them of the change. The updated 3.65% annual percentage yield (APY) applies immediately, requiring no action on the customer’s part.
The Apple Card Savings Account, known for its competitive yield at launch, has gradually declined from its high in early 2024 to 3.75% in March 2025, and now 3.65%. This rate still remains higher than traditional savings accounts, though less attractive than before.
A Wider Industry Trend
Apple is not alone in these cuts. Other high-yield savings providers are facing the same challenges, as central bank policies influence the entire financial sector. Rate drops are becoming more common, driven by efforts to manage inflation and stimulate growth.
Still, Apple users may feel the sting. Many had turned to Apple’s savings platform for a better return on deposits compared to standard bank accounts. The current rate, while lower, remains above the average offered by many competitors.
No Action Needed for Users
Apple confirmed that existing users will automatically receive the new rate. The company did not indicate if more rate changes are expected in the near future.
As the financial landscape continues to shift, consumers may need to reassess their savings strategies. For now, Apple Savings remains a viable option—but not as rewarding as it once was.
