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Apple Card Savings hits $10 billion in deposits

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Apple Card Savings hits $10 billion in deposits

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Apple has announced that its Apple Card Savings accounts have now reached an impressive $10 billion in deposits, the new savings account was launched in the USA back in April.

The Apple Card Savings accounts are running in partnership with Apple and Goldman Sachs and the account is paying an interest rate of 4.15 percent which is a competitive interest rate.

With each of the financial products we’ve introduced, we’ve sought to reinvent the category with our users’ financial health in mind. That was our goal with the launch of Apple Card four years ago, and it remained our guiding principle with the launch of Savings,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “With no fees, no minimum deposits, and no minimum balance requirements, Savings provides an easy way for users to save money every day, and we’re thrilled to see the excellent reception from customers both new and existing.”

Since the launch of Savings, 97 percent of Savings customers have chosen to have their Daily Cash automatically deposited into their account, enabling users to easily establish and continue cultivating healthy savings habits. There is no limit on how much Daily Cash users can earn, and 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.

You can find out more details about the Apple Card Savings accounts over at Apple’s website at the link below, it is only available in the USA at the moment, it should be headed to more countries in the future.

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Source Apple

Filed Under: Apple

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