Apple Launches New Apple Card High-Yield Savings Account with 4.15% APY

Apple Card users can now access a high-yield Savings account through Goldman Sachs, providing a substantial 4.15 percent Annual Percentage Yield (APY) on their funds according to Apple’s press release. This rate is over 10 times the US average and is available to Apple Card users with no fees, no minimum balance requirements, and no minimum deposits.

The Savings feature of Apple Card enables users to grow their Daily Cash rewards while saving money every day. Jennifer Bailey, Vice President of Apple Pay and Apple Wallet, said that the goal is to build tools that help users lead healthier financial lives. The integration of Savings into Apple Card in Wallet allows users to spend, send, and save Daily Cash directly from one place, providing a seamless user experience.

All Daily Cash earned by Apple Card users will be automatically deposited into their Savings account, and users can change their Daily Cash destination at any time. There is no limit to how much Daily Cash users can earn, and they can deposit additional funds into their Savings account from a linked bank account or their Apple Cash balance.

The Savings dashboard in Wallet provides a user-friendly interface for tracking account balances and interest earned over time. Users can withdraw funds at any time with no fees by transferring them to a linked bank account or their Apple Cash card.

The new Savings account from Goldman Sachs builds on the existing financial health benefits of Apple Card, including no fees, Daily Cash on every purchase, and tools that encourage users to pay less interest. These benefits are provided with the privacy and security that users expect from Apple.

In summary, the new Savings account from Goldman Sachs provides Apple Card users with an easy way to save money and grow their Daily Cash rewards with a high-yield APY of 4.15 percent. With no fees, no minimum balance requirements, and a user-friendly interface, users can manage their Savings account directly from Apple Card in Wallet, helping them lead healthier financial lives.