Tags: apple savings 10 billion

Apple's High-Yield Savings Reach $10 Billion

Apple's High-Yield Savings Reach $10 Billion
(Dreamstime)

By    |   Friday, 04 August 2023 08:18 AM EDT

Apple’s high-yield savings account has attracted more than $10 billion in deposits, Apple announced Wednesday.

The savings accounts linked to the Apple Card give customers a 4.15% annual yield and don’t have fees, minimum deposits or minimum balances.

Launched in partnership with Goldman Sachs in April, the accounts give customers with a Goldman Sachs savings account and/or the Apple Card Daily Cash cashback rewards on their purchases that they can automatically direct to their Apple savings. Ninety-seven percent of the Apple savers have opted for this option.

Users can also deposit additional funds to their savings account, or withdraw money, through a linked bank account.

“We are very pleased with the success of the savings account as we continue to deliver seamless, valuable products to Apple Card customers, with a shared focus on creating a best-in-class customer experience that helps customers lead healthier financial lives,” says Liz Martin, head of Goldman Sachs Enterprise Parterships.

Nearly a quarter million people, 240,000, deposited $990 million to the Apple savings account within the first four days of its debut, according to Forbes.

Goldman Sachs is reportedly looking to back out of its Apple Card partnership, and Apple is negotiating with America Express, according to The Wall Street Journal.

© 2026 Newsmax Finance. All rights reserved.


StreetTalk
Apple's high-yield savings account has attracted more than $10 billion in deposits, Apple announced Wednesday.
apple savings 10 billion
207
2023-18-04
Friday, 04 August 2023 08:18 AM
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