Apple Card Users Can Earn 4.15% Interest Rate On Savings Account
Apple on Monday announced that its Apple card users can avail interest rates of up to 4.15 per cent on their Goldman Sachs savings account in the US.
The Cupertino, California-based company said users can set up and manage their savings account directly from Apple Card in Wallet. Apple says that the rate is more than 10 times the national average in the US.
The move from Apple comes at a crucial times as the banking sector largely reels under global headwinds and stay rattled by collapse of the Silicon Valley Bank and Signature Bank.
Apple Card users can earn “Daily Cash” rewards, which will be automatically deposited into the account. The Daily Cash destination can also be changed at any time, and there’s no limit on how much Daily Cash users can earn. To build on their savings even further, users can deposit additional funds into their Savings account through a linked bank account, or from their Apple Cash balance.
The savings account can be set up with no fees, no minimum deposits, and no minimum balance requirements.
The interest rate offered via Apple Card is higher than 3.9 per cent offered by Goldman for an online savings account at its digital consumer bank Marcus.
