Apple Offers Savings Account With 4.15% Interest

<p>Apple has introduced a new savings plan for users of its Apple Card that offers a high-yield of 4&period;15 percent — a rate that’s more than 10 times the national average&period;<&sol;p>&NewLine;<p>In partnership with Goldman Sachs&comma; the savings plan has no fees&comma; no minimum deposits&comma; and no minimum balance requirements&comma; users can easily set up and manage their Savings account directly from Apple Card in Wallet&period;<&sol;p>&NewLine;<p>The savings rate of 4&period;15&percnt; is even higher than Marcus&comma; an online banking service offered by Goldman Sachs&comma; that pays 3&period;90&percnt; interest&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day&comma;” said Jennifer Bailey&comma; Apple’s vice president of Apple Pay and Apple Wallet&period; &OpenCurlyDoubleQuote;Our goal is to build tools that help users lead healthier financial lives&comma; and building Savings into Apple Card in Wallet enables them to spend&comma; send&comma; and save Daily Cash directly and seamlessly — all from one place&period;”<&sol;p>&NewLine;<p>Once a Savings account is set up&comma; all future Daily Cash earned by the user will be automatically deposited into the account&period; The Daily Cash destination can also be changed at any time&comma; and there’s no limit on how much Daily Cash users can earn&period; To build on their savings even further&comma; users can deposit additional funds into their Savings account through a linked bank account&comma; or from their Apple Cash balance&period;<&sol;p>&NewLine;<p>Users will also have access to an easy-to-use Savings dashboard in Wallet&comma; where they can conveniently track their account balance and interest earned over time&period; Users can also withdraw funds at any time through the Savings dashboard by transferring them to a linked bank account or to their Apple Cash card&comma; with no fees&period;<&sol;p>&NewLine;<p>The new Savings account from Goldman Sachs builds upon the financial health benefits that Apple Card already offers&comma; with absolutely no fees&comma; Daily Cash on every purchase&comma; and tools that encourage users to pay less Apple Card interest — all&comma; while offering the privacy and security users expect from Apple&period;<&sol;p>&NewLine;