Apple Card users are seeing returns shrink once more as Apple Savings lowers its APY following continued rate pressure from the Federal Reserve.
On Thursday, Apple advised customers of a 0.15% annual percentage yield (APY) decrease on Apple Savings accounts. Before this drop, the Apple Savings APY was 3.65%, a rate set in May 2025.
This decrease affects all Apple Savings customers. It comes after the Federal Reserve reduced its rates in December 2025.
When Apple Savings launched in 2023, the Effective Federal rate hovered between 5.25% to 5.50%. This allowed Apple Savings to tout a savings rate "ten times the national average," at 4.15%, where savings accounts at the time hovered around 0.4%.
The service briefly reached an all-time high in January 2024, with a slight decrease to 4.4% in April. When the Fed made cuts in September, October, and December, Apple Savings APY dropped to 4.25%, 4.10%, and 3.90%, respectively.
The decreases continued through 2025. It would decrease twice, first to 3.75% in March, then 3.65% in May.
