By expanding its banking operations, Apple has now started to offer the opportunity to open savings accounts and the opportunity to charge customers interest on their money.
Apple, the biggest name in the world of technology, recently entered the finance business and started to operate almost like a bank with its ‘Buy now, pay later’ service. But apparently this service is Apple’s banking-like activities It was just the beginning for him.
The company, which offers Apple Card only to a limited number of users, this time will enable cardholders to earn profits with interest launched its new service. Apple Card holders, by creating a savings account within Apple, can save their money in the card annually. 4.15% interest can operate.
Apple’s interest rate is higher than many banks:
The interesting thing is that Apple will not be stingy with the interest opportunity it offers to its customers. The company is located in the USA more interest than many banks offers. Many US banks keep the annual interest rate below 4%. The highest interest rate is offered by UFB Direct at 5.02%.
On the other hand, Apple does not give any indication of the future of the current interest amount. So the 4.15% interest rate can be increased or decreased by Apple at any time.
Another advantage of Apple that competes with other banks is that, unlike most banks, in the savings account. does not include any minimum money limit. On the other hand, a ceiling limit has been set for the money in the account. The interest can be applied for a maximum of 250 thousand dollars.
Users will be able to charge interest for every penny they put into their account. Apple’s savings account Wallet It can also be accessed through the app.
Apple doesn’t do this job alone: Here’s the bank it’s partnered with
Apple offers interest service as well as buy now pay later service. Goldman Sachs partnered with the business. Therefore, any money put into the account will be guaranteed by the US Federal Deposit Insurance Corporation.
Can a savings account be opened from Turkey?
Since Apple Card does not exist in our country, the interest service will not be available to users in Turkey. But if you live in the USA, you can take advantage of this service.
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Source :
https://www.apple.com/newsroom/2023/04/apple-cards-new-high-yield-savings-account-is-now-available-offering-a-4-point-15-percent-apy/