High-yield Savings account offered by Apple Card now accessible, providing a competitive annual percentage yield of 4.15%
Apple Card has announced the launch of a new Savings account, available to Apple Card Owners and Co-Owners who meet eligibility requirements. The account, provided by Goldman Sachs Bank USA, Salt Lake City Branch, offers a high-yield APY of 4.15 percent, more than 10 times the national average.
The Savings account is accessible within the Wallet app, alongside the Apple Card, for users with iOS 16.4 and later. Users can set up and manage their Savings account directly from Apple Card in Wallet, and have access to a dedicated Savings dashboard to track their account balance and interest earned over time.
All future Daily Cash earned by the user will be automatically deposited into the Savings account, with no limit on how much Daily Cash users can earn. The Daily Cash destination can be changed at any time.
The Savings account APY is subject to change at any time, and there are no fees, no minimum deposits, and no minimum balance requirements for the Savings account. Users can deposit additional funds into their Savings account through a linked bank account or from their Apple Cash balance, though transfer limits apply to Savings transfers to and from Apple Cash.
Maximum balance limits apply to the Savings account, and the bank that offers the new savings accounts for Apple Card with the annual yield of 4.15 percent is not explicitly mentioned in the provided search results. The national average rate referenced is from the FDIC's published National Rates and Rate Caps for Savings deposit products as of 3/20/2023.
Variable APRs for Apple Card range from 15.74 percent to 26.74 percent based on creditworthiness. Apple Card is subject to credit approval and is available only for qualifying applicants in the United States.
With this new offering, Apple Card continues to expand its financial services, providing users with a convenient and high-yield savings option alongside its existing credit card product.
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