Highlights

  • Apple launches savings account with Golman Sachs in the U.S
  • Apple Savings to offer interest rate of 4.15%
  • Annual yield is 10 times the national average: Apple

Latest news

Sanjay Dutt refuses to click selfie with fan at Mumbai airport; netizens express disappointment

Sanjay Dutt refuses to click selfie with fan at Mumbai airport; netizens express disappointment

Wrestlers' protest: BJP MP comes out in support of athletes

Wrestlers' protest: BJP MP comes out in support of athletes

‘Project K’: Rana Daggubati says Prabhas starrer is ‘going to break boundaries

‘Project K’: Rana Daggubati says Prabhas starrer is ‘going to break boundaries

Terrorist killed in J&K's Rajouri, say security forces

Terrorist killed in J&K's Rajouri, say security forces

AI-powered drone 'kills' human operator in US military simulation: report

AI-powered drone 'kills' human operator in US military simulation: report

Apple-Goldman Sachs launch savings account in the U.S offering 4.15%

Apple launches its long awaited savings account with Goldman Sachs in the U.S. 'Apple Savings' will offer a 4.15% interest rate, which is ten times the national average. 

Apple has introduced its own savings account with Goldman Sachs in the U.S, which will offer a 4.15% on an annual basis. This is more than 10 times the national average, said the company in a statement.

  1. Users will be able to open an account directly through their Apple devices, such as iPhones, iPads, or MacBooks, using the Apple Wallet app.
  2. Moreover, Apple Savings will also integrate with other Apple services, such as Apple Pay and Apple Cash, allowing users to easily manage their finances and make transactions within the Apple ecosystem.
  3. In addition to the competitive interest rate and convenient user experience, Apple Savings will have no monthly fees requirement and no minimum balance requirements.
  4. The maximum balance for the account is $250,000

“Our goal is to build tools that help users lead healthier financial lives,” Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said in the statement.

As per a Bloomberg report, the move thrusts the tech company’s clout into a broader fight for depositors, potentially adding to the pressure on other financial firms that are trying to protect their funding. Small and midsize banks, in particular, have been facing withdrawals this year, as savers chase higher returns elsewhere or move their money to safe havens, such as JPMorgan Chase & Co., in the wake of Silicon Valley Bank’s collapse last month.

Up Next

Apple-Goldman Sachs launch savings account in the U.S offering 4.15%

Apple-Goldman Sachs launch savings account in the U.S offering 4.15%

Meta asks employees to return to offices from September

Meta asks employees to return to offices from September

Gold, Silver Rates Today 2 June 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Rates Today 2 June 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Rates Today 1 June 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Rates Today 1 June 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Amazon to pay $31 million over privacy violation in Alexa and Ring Camera lawsuits

Amazon to pay $31 million over privacy violation in Alexa and Ring Camera lawsuits

Credit card forex payment: The what, why and how of 20% TCS on foreign transactions

Credit card forex payment: The what, why and how of 20% TCS on foreign transactions

More videos

India's UPI transaction hits record 9 billion transactions worth Rs 14 lakh crore in May

India's UPI transaction hits record 9 billion transactions worth Rs 14 lakh crore in May

Amazon workers protest over recent layoffs, environmental impact and return-to-office mandate

Amazon workers protest over recent layoffs, environmental impact and return-to-office mandate

Overqualified and underemployed: China's biggest ever job crisis

Overqualified and underemployed: China's biggest ever job crisis

GST collections in May stood at ₹1.57 lakh crore, a 12% year on year increase

GST collections in May stood at ₹1.57 lakh crore, a 12% year on year increase

Coal India OFS: Fully subscribed on Day 1 amid strong institutional response

Coal India OFS: Fully subscribed on Day 1 amid strong institutional response

From PAN-Aadhaar linking to bank locker rules: list of personal finance deadlines you can’t miss in June

From PAN-Aadhaar linking to bank locker rules: list of personal finance deadlines you can’t miss in June

Best Indian brands 2023 ranking: TCS tops the list; followed by this company

Best Indian brands 2023 ranking: TCS tops the list; followed by this company

SpiceJet ordered to pay Rs 380 crore to its former promoter Sun group's Kalanithi Maran

SpiceJet ordered to pay Rs 380 crore to its former promoter Sun group's Kalanithi Maran

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.