The Apple Card in the United States offers a high-yield savings account option, with the interest rate recently dropping from 3.75% to 3.65%.
When compared to other popular high-yield savings accounts, the Apple Card's interest rate of 3.65% puts it in alignment with some competitors like Marcus by Goldman Sachs and just above Ally, Discover, and American Express.
The account has no fees, no minimum deposits, and no minimum balance requirements. Apple Card holders can earn interest on their Daily Cash cashback balance as well as funds from a linked bank account or Apple Cash balance.
Goldman Sachs, Apple's current financial partner for the savings account, has seen fluctuations in the APY offered, with the current rate at an all-time low of 3.65%. There may be potential changes ahead, as Goldman Sachs might end its consumer lending partnership with Apple, leading to possible new financial partners for the Apple Card.