Apple Card savings accounts are available starting today with an annual percentage rate of 4.15%.
The feature allows Apple Card users to open a high-yield Savings Account from Goldman Sachs in the iPhone Wallet app and start earning interest on their Daily Cash balance. Users can also earn interest on personal funds deposited into the Savings Account through an associated bank account or from their Apple Cash balance.
To open a savings account in the Wallet app, users tap Apple Card, tap the circle with three dots at the top of the screen, tap Daily Cash, and then select Set Up Savings. Once the account is opened, all Daily Cash received will automatically be credited to the account and begin earning interest. Users can choose to add Daily Cash to their Apple Cash balance at any time if they wish.
The Apple Card Savings Account feature requires an iPhone with iOS 16.4 or later.