As noted by MacRumors, the Apple Card’s high-yield savings account received an interest rate cut overnight, the fourth time it has done so this year.
The Apple Card savings account’s annual percentage yield (APY) dropped from 4.1% to 3.9%. Push notifications regarding the cut were sent to Apple Card users yesterday. Savings account interest rates fluctuate with changes made by the Federal Reserve, and when rates are lowered, banks cut their APYs.
Article provided with permission from AppleWorld.Today
