Savings arrives, Apple’s savings account with an annual yield of 4.15%

What is the rate of return on Savings?

In an environment of high interest rates in the United States and the world, Apple announced that it will offer an annual rate of return of 4.15% to its clients.

The rate offered by Apple, the statement indicates, is almost 10 times higher than the national average for savings accounts.

There are no fees for using the feature that Apple called Savings and that can be found in the Apple Wallet on the devices. However, there is a savings account balance limit of $250,000.

Other Apple Card benefits

Apple Card customers also have benefits such as 1% cash back on purchases they make and 2% on purchases made with Apple Pay.

It should be remembered that Apple recently also announced Pay Later, a financial product so that Apple Pay users can pay for their purchases in installments, with credits of up to $1,000.

“Our goal is to create tools that help users lead healthier financial lives, and the addition of Savings to Apple Card in Wallet allows them to spend, send and save Daily Cash directly and seamlessly, all from one place. said Jennifer Bailey, vice president of Apple Pay in a statement.