As if Apple wasn’t ubiquitous enough in our lives, the tech giant is now apple card Users will have the opportunity to open a savings account on their iPhone.
feature is Originally announced in October 2022 (opens in new tab) As a way for Apple Card holders to accumulate Daily Cash rewards and grow in a “Goldman Sachs High Yield Savings Account”. APY (Annual Yield) is 3.75 percent (opens in new tab), but it’s actually 4.15%, which the company now claims is “more than 10 times the national average.” Note that APY is not deterministic as it can jump up or down at any time in the future. Not only does it offer a higher yield, but it works just like a regular savings account. (opens in new tab) A typical bank has “no fees, no minimum deposit, [plus] There are no minimum balance requirements. ”
