Nearly $1 Billion Deposited by Apple Card Owners Four Days After Savings Account Launch

Apple on April 17 introduced the Apple Card Savings account, and it turns out that it was highly popular with iPhone users. The new Apple-branded high-yield savings account saw up to $990 million in deposits during the first four days after launch, according to Forbes.

apple card savings account
Forbes says that it spoke with two anonymous sources with knowledge of how the Apple Savings account performed shortly after launch, but the deposit total has not been officially confirmed by Apple or by Goldman Sachs, Apple's partner on the ‌Apple Card‌ Savings venture.

During the first day alone, ‌Apple Card‌ owners deposited $400 million, which is perhaps not a surprise given Apple's large ‌iPhone‌ user base in the United States. By the end of the week, approximately 240,000 accounts had been opened.

The Apple Savings account is limited to ‌Apple Card‌ holders, and it allows them to deposit the Apple Cash earned from the ‌Apple Card‌ directly into the account. ‌Apple Card‌ holders can also deposit additional money from a checking account into the ‌Apple Card‌ Savings account, where it will earn interest.

Apple is offering a 4.15% APR at the current time, which is appealing when combined with the ease of opening the savings account. Creating an account takes just a couple of minutes for those who already have an ‌Apple Card‌, and it works like any other savings account. There are no fees and there is no minimum balance, though accounts can't exceed the $250,000 FDIC insurance limit.

The competitive APR and the simplicity of the Apple Savings account will give it an edge over competing high-yield savings account providers. Getting a higher rate for a savings account typically requires dealing with a digital bank, and not many popular financial companies are able to compete with Apple on APR. Citi Bank, for example, has a 3.85% rate, and Discover is at 3.75%. American Express also offers a 3.75% APR, while Capital One is at 3.50% and Barclays is at 4%.

Like the ‌Apple Card‌, the Apple Savings account is managed from the Wallet app, and earnings can be tracked through a simple, informative interface.

Popular Stories

iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro Coming Soon With These 14 New Features

Friday July 4, 2025 1:05 pm PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models. Latest Rumors These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...
iphone 16 pro models 1

Here's How the iPhone 17 Pro Max Will Compare to the iPhone 17 Pro

Saturday July 5, 2025 1:00 pm PDT by
Apple should unveil the iPhone 17 series in September, and there might be one bigger difference between the Pro and Pro Max models this year. As always, the Pro Max model will be larger than the Pro model:iPhone 17 Pro: 6.3-inch display iPhone 17 Pro Max: 6.9-inch displayGiven the Pro Max is physically larger than the Pro, it has more internal space, allowing for a larger battery and...
imac video apple feature

Apple Launching These 15+ Products Later This Year

Sunday July 6, 2025 8:05 am PDT by
The calendar has turned to July, meaning that 2025 is now more than half over. And while the summer months are often quiet for Apple, the company still has more than a dozen products coming later this year, according to rumors. Below, we have outlined at least 15 new Apple products that are expected to launch later this year, along with key rumored features for each. iPhone 17 Series iPho...
iPhone Car Key Kia

Here's Which Vehicles Offer iPhone Car Keys

Sunday July 6, 2025 3:03 pm PDT by
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further. Apple has a web page with a list of vehicle models that ...
iOS 26 Feature

Everything New in iOS 26 Beta 3

Monday July 7, 2025 1:20 pm PDT by
Apple is continuing to refine and update iOS 26, and beta three features smaller changes than we saw in beta 2, plus further tweaks to the Liquid Glass design. Apple is gearing up for the next phase of beta testing, and the company has promised that a public beta is set to come out in July. Transparency In some apps like Apple Music, Podcasts, and the App Store, Apple has toned down the...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
iphone 17 pro render majin bu

New iPhone 17 Pro Renders Highlight Apple Logo and MagSafe Design Changes

Sunday July 6, 2025 8:43 pm PDT by
New renders today provide the best look yet relocated Apple logo and redesigned MagSafe magnet array of the iPhone 17 Pro and iPhone 17 Pro Max. Image via Majin Bu. Several of the design changes coming to the iPhone 17 Pro model have been rumored for some time, such as the elongated camera bump that spans the full width of the device, with the LiDAR Scanner and flash moving to the right side. ...
Prime Day 25 Feature Warm Triad

The Best Early Prime Day Deals on Apple Products

Saturday July 5, 2025 7:22 am PDT by
Amazon is soon to be back with its annual summertime Prime Day event, lasting for four days from July 8-11, the longest Prime Day yet. As it does every year, Prime Day offers shoppers a huge selection of deals across Amazon's storefront, and there are already many deals you can get on sale ahead of the event. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a ...
airpods pro 2

AirPods Pro 3 to Help Maintain Apple's Place in Earbud Market Amid Increasing Low-Cost Competition

Thursday July 3, 2025 7:25 am PDT by
Apple's position as the dominant force in the global true wireless stereo (TWS) earbud market is expected to continue through 2025, according to Counterpoint Research. The forecast outlines a 3% year-over-year increase in global TWS unit shipments for 2025, signaling a transition from rapid growth to a more mature phase for the category. While Apple is set to remain the leading brand by...

Top Rated Comments

jimbobb24 Avatar
29 months ago
It really was easy to set up. I already earned 34¢ so the future is bright.
Score: 42 Votes (Like | Disagree)
newyorksole Avatar
29 months ago

They are going to, because the rates will follow whatever the fed does.

4.15% isn't even the highest paying savings account out there. Amazing that people will put their money into this without doing one minute of research to see there are better options.
I have said it before and will say it again.

people can have multiple savings accounts ?. what makes you think people depositing into Apple don’t know what other higher yields are out there?

and… who cares anyway. Apple has no minimum and is just a more seamless/integrated experience than those other nameless accounts you mentioned.
Score: 24 Votes (Like | Disagree)
Apple Knowledge Navigator Avatar
29 months ago
Why deposit a billion dollars when we could deposit… ONE MILLION DOLLARS?!
MWahAHaA!
Score: 24 Votes (Like | Disagree)
xxray Avatar
29 months ago
Your money is held up for 9 months though. There are different financial products for different use cases. Why do you automatically assume you know better than other people do on what to do with their own money?

I think this is overall a good thing. I’m sure Apple inspired some people to do more with their money than what they were doing before.
Score: 23 Votes (Like | Disagree)
cocky jeremy Avatar
29 months ago
I transferred like $40 from my Apple Cash. I had a big hand in that billion dollars. You're welcome, Apple.
Score: 20 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
29 months ago
I'm ready to make some serious money from my Apple Card Savings Account.

Apple better not change its mind on that 4.15% APR rate. More deposits to come in the future! We are locked in now! Let's go!!

Score: 19 Votes (Like | Disagree)