"Apple disrupts banking industry with high-interest savings account"

Apple Card customers in the US can now open a savings account and earn an annual percentage yield (APY) of 4.15% through an Apple savings account. The savings account has been created specifically for Apple Card customers and is managed by Goldman Sachs, which means that balances are covered by the Federal Deposit Insurance Corporation (FDIC). There are no fees associated with the savings account, and there is a maximum balance limit of $250,000. Customers can choose to deposit their daily rewards into their savings accounts, which can be accessed from the Wallet app.