Business:Tech giant Apple has announced the launch of a new high-yield savings account exclusively for its Apple Card users. This new account will come with an attractive annual percentage yield (APY) of 4.15%, making it a highly competitive option in the market.
The new savings account is designed to be an extension of the Apple Card and is called the "Apple Card Savings Account." The account will be available through Goldman Sachs, which is the issuing bank for the Apple Card.
Apple has stated that the savings account will be accessible through the Wallet app on iOS devices. The account balance will be visible alongside the Apple Card balance in the app, making it easier for users to track their finances in one place.
The Apple Card Savings Account will also come with no minimum deposit requirements or fees. This means that users can start saving with any amount they choose and won't have to worry about any maintenance fees eating into their savings.
The announcement of this new savings account has been met with excitement from Apple Card users, who have praised the company for offering such an attractive APY. With interest rates on savings accounts remaining low in recent years, the 4.15% APY offered by the Apple Card Savings Account is sure to be a draw for many.
Overall, the launch of the Apple Card Savings Account demonstrates Apple's commitment to expanding its financial services offerings. By partnering with Goldman Sachs, Apple is able to provide its users with an innovative savings account that is both user-friendly and highly competitive in the market.