Apple launches Apple Card’s savings accounts with 4.15 percent interest rate

Variety
18-04-2023 | 06:24
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Apple launches Apple Card’s savings accounts with 4.15 percent interest rate
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Apple launches Apple Card’s savings accounts with 4.15 percent interest rate

Apple Card customers in the US can open a savings account and earn interests starting today. When the company originally announced the new financial product back in October, Apple said that it couldn’t share what interest rate would be paid out on these accounts because rates are fluctuating so much these days.

As of today, Apple is going to offer an APY of 4.15 percent. It looks like a competitive offering when you look at data from Bankrate — you can currently find savings accounts that offer an APY of 3.5 percent to 4.75 percent. The company isn’t making any promise when it comes to future interest rates. It could go up and down at any time.

Apple has partnered with Goldman Sachs once again for the banking feature. Savings accounts are technically managed by Goldman Sachs, which means that balances are covered by the Federal Deposit Insurance Corporation (FDIC).
 

Apple

Launches

Card

Saving

Accounts

Interest Rate

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