As noted by MacRumors, the Apple Card’s high-yield savings account has received an interest rate cut.
The Apple Card savings account’s annual percentage yield (APY) dropped from 3.65% to 3.50%. 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. However, today’s cut doesn’t appear tied to a specific Federal Reserve move, notes MacRumors.
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