In a recent development, Apple Inc. (NASDAQ:AAPL) has announced a new increase in the Annual Percentage Yield (APY) for its Apple Card Savings Account.
What Happened: Apple is notifying its Apple Card Savings Account holders about the latest APY increase via push notifications. The APY has been raised to 4.50% from 4.35%, reported MacRumors on Friday.
This marks the third time the APY rate has been raised since December. The initial increase was from 4.15% to 4.25%, followed by another rise from 4.25% to 4.35% in early January.
Apple’s previous rate increase had already aligned it with the APY offered by several other popular high-yield savings accounts, such as those from American Express and Discover. With the most recent hike, the Apple Savings Account now matches the APY of Marcus by Goldman Sachs.
The Apple Card Savings Account, ...