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.
