Unlocking the Benefits of Apple Savings Account in 2023


Apple Introduces Savings Account with 4.15% Interest Rate

Apple has unveiled a new feature for Apple Card users, allowing them to grow their Daily Cash rewards through a savings account offered by Goldman Sachs

According to Apple, the savings accounts will provide an Annual Percentage Yield (APY) of 4.15%, and there will be no fees, minimum deposits, or minimum balance requirements

In a statement, Jennifer Bailey, Vice President of Apple Pay and Apple Wallet, expressed the company's aim to create tools that promote healthier financial habits among users.

Apple Card users can easily set up a savings account directly from the Wallet app, and they can contribute to their savings using the Daily Cash rewards they earn when making purchases with their Apple Card.

Any newly earned Daily Cash will be automatically deposited into the savings account, unless the user chooses to direct it elsewhere, according to Apple.

Users will also have the option to transfer funds from their linked bank account to the savings account.