Apple Card finally brings Savings account with 4.15% APY
Apple announced a Savings feature for Apple Card owners over six months ago, but it's only now that he feature is finally live. The Savings account will offer a 4.15% APY (Annual Percentage Yield) for all Apple Card clients in the United States, thanks to a partnership with Goldman Sachs.
The rate is over 10 times the national average, Apple revealed. The Federal Deposit Insurance Corporation website reveals the rate across the United States is 0.37% as of March 2023.
Apple Card features
Previously the company offered Daily Cash - a cashback program. Users who pay with Apple Card get back 1% on all purchases, 2% if they are through Apple Pay, and 3% on money spent at the Apple Store and some partners like Uber or T-Mobile.
The Savings account has no fees, minimum deposits, or minimum balance requirements. However, to have an Apple Card, you still have to apply and get the approval for it.
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Reader comments
- Anonym
- 23 Apr 2023
- J1}
There's no such thing as "in the EU the APY raised to xx," each country within the EU has a nearly independent banking system with wildly different interest rates/policies depending on the country. It doesn't take much to find tha...
- alcatraz
- 20 Apr 2023
- Sm9
Is this so that they can ask for a bailout later when their other much larger sketchy business goes belly up? "Don't hurt Joe six pack that opened a savings account."
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