Comparing Apple's High-Yield Savings Account to Other Options
TL;DR
Apple CEO Tim Cook has praised the response to the new Apple Card Savings feature, which allows users to open a high-yield savings account from Goldman Sachs and start earning interest on their Daily Cash cashback balance and other deposited money, with no fees or minimum balance requirement. Forbes reported that around 240,000 Apple Card savings accounts were opened in the first week. The account currently offers a 4.15% APY, a rate Apple said was "more than 10 times the national average" as of late March.
- Tim Cook Touts 'Incredible' Response to Apple Card Savings Account on iPhone MacRumors
- Apple's New High-Yield Savings Account Isn't the Only One With a Great Interest Rate CNET
- Apple and fintechs like Robinhood chase yield-hungry depositors as Fed rate hikes continue CNBC
- Is Apple's savings account or another high-yield one better for you? CBS News
- Apple’s savings account upends traditional banking — or does it? Marketplace
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