Apple launches savings accounts and people have already invested $10 billion

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Photo: Gulliver/GettyImages

Apple says users have already deposited more than $10 billion into savings accounts they opened a few months ago.

In April, Apple launched Apple Card Savings with Goldman Sachs, which offered and still offers an annual return of 4.15%, well above average.

The favorable interest rate seems to have attracted a large number of customers, although the service is currently only available in the United States. The total value of deposits in these accounts has exceeded $10 billion, according to Apple, writes

The American company also reports that 97% of customers have chosen to automatically deposit money from Daily Cash, a cashback service linked to the Apple Card, to a savings account.

Automatically, all payments made using the Apple Card provide a cashback of 1% to 3%.

In less than four months since opening a savings account, Apple has ranked 140th in the ranking of the largest US banks by deposits.

Publisher: VM

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