Apple Card Savings Account Available Starting Today With 4.15% Interest Rate

Apple today announced that the long-awaited Apple Card Savings feature is available starting today with an initial APY of 4.15%. The savings account has no fees, no minimum deposits, and no minimum balance requirements.


The feature allows Apple Card users to open a high-yield savings account from Goldman Sachs in the Wallet app on their iPhone and start earning interest on their Daily Cash balance. Users can also earn interest on personal funds deposited into the savings account through a linked bank account, or from their Apple Cash balance.

To open a savings account in the Wallet app, users will tap on the Apple Card, tap on the circle with three dots at the top of the screen, tap Daily Cash, and select Set Up Savings. Once the account is set up, all Daily Cash received from that point on will be automatically deposited into it and start earning interest. If they prefer, users can choose to have Daily Cash added to their Apple Cash balance instead at any time.

Apple Card Savings allows a maximum balance of $250,000, and balances are fully insured by the FDIC. To access funds stored in the account, users can transfer money to their Apple Cash balance or to a linked external bank account, a process that Apple says can take 1-3 business days to be completed. There are no fees for withdrawals.

Apple Card Savings requires an iPhone with iOS 16.4 or later and is available to U.S. residents who are 18 years of age or older. Apple has published a support document with additional information about the feature.

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Top Rated Comments

Sorinut Avatar
15 months ago

I got rid of my account. Tying a savings card to a credit card is counter-intuitive and using a credit card is folly, I started to fall for it and realized the error of my ways. I don't fool with debt. Pay off your cards and cancel account, it is freeing!!!
I currently have four credit cards and haven't paid a dime in interest in over a decade, but I get all the rewards. I pay them off twice per month.

Treat them exactly like a debit card and you wont have an issue.
Score: 71 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
15 months ago
Woah Long Overdue! A 4.15% interest rate is very good. Good Bye American Express & Discover ?
Score: 33 Votes (Like | Disagree)
contacos Avatar
15 months ago
over 4%!? thats a LOT. Cries in Germany. Last year i made a whole 72 cent with my saving account!
Score: 24 Votes (Like | Disagree)
doerrmann Avatar
15 months ago

I don't get it. Wouldn't you still pay with charge/credit cards and pay them off at a later date, while keeping the money in this account?
There's better consumer protections with a credit card versus cash, check, or debit. It's also easier to shut down a credit card if there's fraud, versus shutting down a checking account. As long as you pay on time, you can get interest in your money in savings, and not pay any fees or interest in your credit account.
Score: 23 Votes (Like | Disagree)
Andronicus Avatar
15 months ago
Not seeing the “setup savings” yet in my Daily Cash menu ?
Score: 23 Votes (Like | Disagree)
vertsix Avatar
15 months ago

I wonder what amount this is insured to?
All savings are FDIC insured up to $250,000. https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/
Score: 22 Votes (Like | Disagree)