"Apple's High-Yield Savings Account Attracts $1 Billion in Deposits in Just 4 Days"
TL;DR Summary
Apple's new high-yield savings account, offered in partnership with Goldman Sachs, has attracted $1 billion in deposits from 240,000 customers in just four days since its launch. The account offers a 4.15% annual return, which is 10 times the national average interest rate offered by banks. The service is only available to holders of Apple's credit card, Apple Card, and can be monitored through a dashboard integrated with Apple's digital wallet. Depositors are not permitted to exceed the $250,000 FDIC insurance threshold.
- Apple savings account offers 10 times more interest than US average — draws $1B in deposits New York Post
- People Put Nearly $1 Billion Into Apple Savings Accounts in First 4 Days Yahoo News
- Apple's high-yield savings account draws in nearly $1 billion deposits in first four days Daily Mail
- Is the Apple Card Worth It? The Motley Fool
- Apple Card savings account has an attractive 4.15% interest rate, but be aware of these pitfalls before signing up MarketWatch
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