Apple Card Savings Account is here: Impressive 4.15% Interest Rate

1 min readUpdated Jun 4, 2025Apr 18, 20237:57 AM

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Starting today, you can open an Apple Card Savings account with an annual percentage yield (APY) of 4.15%.

We have been hearing rumors about this Apple Card Savings account recently, but now it’s finally official in a blog post on the Apple Newsroom.

The main benefit of this account is the high APY. At 4.15%, Apple says this rate is 10 times the national average. The account operates in partnership with Golden Sachs.

It’s also good to know that the Apple Card Savings account comes with no fess, minimum deposits, or minimum balance requirements.

Apple Card holders can get between 2% and 3% cash back on purchases made via Apple Pay, and 1% cash back on transactions made with the physical card. So these Daily Cash balances will immediately go into the Savings account, so you can start earning interest.

Users also gets a neat dashboard right in the Wallet app, where they can track account balance and interest earned over time.

“Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them an easy way to save money daily. Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place,” said Jennifer Bailey, VP of Apple Pay and Apple Wallet.

Here is how you open a savings account in the Apple Wallet app:

Tap on the Apple Card
Tap on the circle with three dots at the top of the screen
Tap Daily Cash
Select Set Up Savings.

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Questions & Answers

What is the annual percentage yield for the new Apple Card Savings account?

The Apple Card Savings account offers an annual percentage yield (APY) of 4.15%. Apple states this rate is ten times the national average for savings accounts.

Which financial institution is partnering with Apple to offer this savings account?

The Apple Card Savings account operates in partnership with Golden Sachs. This collaboration facilitates the high-yield savings option for Apple Card holders.

Are there any fees or minimum requirements to open or maintain the Apple Card Savings account?

No, the Apple Card Savings account comes with no fees, minimum deposits, or minimum balance requirements. Users can open it without any initial financial commitment.

How will the cash back earned from Apple Card purchases be handled with this new savings account?

Daily Cash balances earned from Apple Card purchases will immediately go into the new Savings account. This allows users to start earning interest on their cash back automatically.