--- title: How the Apple Card's New 4.15% APY Savings Account Compares to Competitors description: The Apple Card's new savings account from Goldman Sachs has an impressively high 4.15% APY. Is it the best high-yield savings account? authors: - name: Pete Grieve role: Lead News Reporter url: https://money.com/author/pete-grieve/ bio: Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market. education: University of Chicago, BA Political Science at_money_since: 2022 articles: 597 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://twitter.com/pete_grieve - https://linkedin.com/in/pete-grieve-b5aa02138 - https://www.facebook.com/petegrieve4 editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-04-18T19:06:59.000Z' modified: '2025-05-09T15:04:09.000Z' section: Banking tags: - News word_count: 498 canonical: https://money.com/apple-card-savings-account-high-apy/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Hand holding the Apple Card credit card](https://img.money.com/2023/04/News-Apple-Card-new-savings-account.jpg?crop=0px%2C239px%2C2880px%2C1620px&quality=85) Apple Card customers can now open a [savings account](https://money.com/best-savings-accounts/) with an annual percentage yield (APY) that beats comparable offerings from some of the [nation's largest banks](https://money.com/best-national-banks/). On Monday, Apple cardholders got access to open the new [high-yield savings account](https://money.com/best-high-yield-savings-accounts/), which has an APY of 4.15%. The national average APY for savings accounts is currently just 0.39%. Savings accounts have become more attractive in the past year as interest rates have soared, but the Apple account's savings rate is even higher than many of the best offers from major competitors. Like Apple’s [credit card](https://money.com/best-credit-cards/), the new savings account is provided by Goldman Sachs. There’s no annual fee for the savings account or the credit card. The [company’s announcement](https://www.apple.com/newsroom/2023/04/apple-cards-new-high-yield-savings-account-is-now-available-offering-a-4-point-15-percent-apy/) pitches the savings account as a way to get additional value from the cashback rewards you earn when you swipe or tap your Apple Card. Upon opening the Apple Card savings account, those cashback rewards (2% for most purchases) will be automatically deposited into the account going forward. But cardholders can also use the new offering from Apple as their primary savings account. You can deposit and withdraw money from the account using your bank account or Apple Cash, a digital card for peer-to-peer payments and Apple Pay shopping. You can keep a balance of up to $250,000 in the savings account, and there’s no minimum balance requirement. ## Start saving today with a SoFi® High-Yield Savings Account ### SoFi helps keeps your money organized and separated so there's no confusion when it comes time to spend. [View Rates](https://money.com/pr/u78e5d83666e?ap_referrer=%2Fapple-card-savings-account-high-apy%2F) *\*Rates and APYs are subject to change. All information provided here is accurate as of May 19, 2023.* ## How to open an Apple savings account Current cardholders can get started with the new savings account by navigating to their Apple Card in the Wallet app. - Select the button with three dots at the top right and click "Daily Cash." You'll see an option to set up the savings account. - You may need to first update your phone's software because the savings account features are only available on devices running iOS 16.4 or a later version. - If you don’t already have an Apple Card but want to start saving with Apple, you’ll have to apply for the credit card. Your ability to get approved depends on factors including your [credit score](https://money.com/what-is-a-credit-score/). ## How the Apple savings account stacks up The Apple Card's APY appears to be very competitive with other big name savings accounts, but it's not the highest savings rate out there. Some high-yield savings accounts offer slightly higher APY. And you can get even better APYs — sometimes 5% or higher — with [certificates of deposit (CDs)](https://money.com/best-cd-rates/) if you're willing to set your money aside for a fixed period of time. Here's a look at how the Apple Card compares to some of its competitors' high-yield savings accounts: - Bread Savings: 4.30% - Citizens: 4.25% - Apple Card: 4.15% - Synchrony: 4.15% - SoFi: 4.0% - Marcus by Goldman Sachs: 3.9% - Ally Bank: 3.75% - Discover: 3.75% - American Express: 3.75% ## Save money the right way with a High-Yield Savings Account ### For an easy and effective way of saving money, a High-Yield Savings Account from Barclays is a good bet. Just click below and open your account today. [View Rates](https://money.com/pr/ue555606400c?ap_referrer=%2Fapple-card-savings-account-high-apy%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/apple-card-savings-account-high-apy/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Banking", "item": "https://money.com/banking/" }, { "@type": "ListItem", "position": 3, "name": "High-Yield Savings Accounts", "item": "https://money.com/high-yield-savings-accounts/" }, { "@type": "ListItem", "position": 4, "name": "How the Apple Card's New 4.15% APY Savings Account Compares to Competitors" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/apple-card-savings-account-high-apy/#webpage", "url": "https://money.com/apple-card-savings-account-high-apy/", "name": "How the Apple Card's New 4.15% APY Savings Account Compares to Competitors", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-04-18T19:06:59.000Z", "mainEntity": { "@id": "https://money.com/apple-card-savings-account-high-apy/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/apple-card-savings-account-high-apy/#breadcrumb" }, "dateModified": "2025-05-09T15:04:09.000Z" }, { "@type": "NewsArticle", "headline": "How the Apple Card's New 4.15% APY Savings Account Compares to Competitors", "articleSection": "Banking", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/04/News-Apple-Card-new-savings-account.jpg?crop=0px%2C239px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Apple-Card-new-savings-account" } ], "author": [ { "@type": "Person", "name": "Pete Grieve", "url": "https://money.com/author/pete-grieve/", "@id": "https://money.com/author/pete-grieve/#author", "description": "Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market.", "image": "https://img.money.com/2023/02/peter.png?w=350&h=430&crop=1", "email": "peter.grieve@money.com", "jobTitle": "Lead News Reporter", "alumniOf": "University of Chicago, BA Political Science", "sameAs": [ "https://twitter.com/pete_grieve", "https://linkedin.com/in/pete-grieve-b5aa02138", "https://www.facebook.com/petegrieve4" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2023-04-18T19:06:59.000Z", "description": "The Apple Card's new savings account from Goldman Sachs has an impressively high 4.15% APY. Is it the best high-yield savings account?", "abstract": "The Apple Card's new savings account from Goldman Sachs has an impressively high 4.15% APY. Is it the best high-yield savings account?", "@id": "https://money.com/apple-card-savings-account-high-apy/", "inLanguage": "en-US", "dateModified": "2025-05-09T15:04:09.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 498, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Bank", "sameAs": [ "https://en.wikipedia.org/wiki/Bank" ] }, { "@type": "Thing", "name": "Savings account", "sameAs": [ "https://en.wikipedia.org/wiki/Savings_account" ] }, { "@type": "Thing", "name": "Apple Inc.", "sameAs": [ "https://en.wikipedia.org/wiki/Apple_Inc." ] } ] } ] } ```