Apple Card’s New Savings Account

Apple Inc. has become a frequent topic in the news, with various innovations and developments catching our attention. From their groundbreaking Diabetes Management Technology to the more recent “Buy Now, Pay Later” financing feature, Apple has been making waves in different industries.

According to Apple, Apple Card users can now earn daily cash rewards with the new Savings account from Apple and Goldman Sachs, exclusively available through the Wallet app. This high-yield account offers an impressive Annual Percentage Yield of 4.15 percent, over ten times the national average, with no fees or minimum balance requirements.

By simply setting up the account, users can automatically deposit all future daily cash earnings, with no limit to how much they can earn. And users have the flexibility to change the deposit destination at any time to suit their needs. But the benefits don’t stop there, users can also deposit additional funds into their Savings account through a linked bank account.

Image of Apple Wallet Dashboard showing the Savings Account
Image of Apple Wallet Dashboard showing the Savings Account. Source: Apple

Goldman Sachs Bank USA is the provider of the Savings accounts, which are exclusively available to Apple Card Owners and Co-Owners. It’s also important to note that the Apple Card is subject to credit approval and is only available to qualifying applicants in the United States.

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