Apple Card Slashes Savings Account Interest For 3rd Time Following Fed's Decisions: Here's What You Need To Know
Portfolio Pulse from Rounak Jain
Apple Inc. (NASDAQ:AAPL) is reducing the interest rate on its Apple Card high-yield savings account to 4.10%, marking the third reduction this year. This change aligns with Federal Reserve rate adjustments and keeps Apple's offering competitive with other high-yield accounts.
October 11, 2024 | 7:31 am
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Apple is reducing the interest rate on its Apple Card savings account to 4.10%, the third cut this year, in response to Federal Reserve rate changes. This keeps the account competitive with other high-yield savings options.
The reduction in interest rates for Apple's savings account is a response to Federal Reserve rate changes, which is a common practice among financial institutions. While this move keeps Apple's offering competitive, it is unlikely to have a significant short-term impact on Apple's stock price as it is a minor part of Apple's overall business.
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