Try unlimited access
Try full digital access and see why over 1 million readers subscribe to the FT
Only
$1 for 4 weeks
Explore our subscriptions
Individual
Find the plan that suits you best.
Group
Premium access for businesses and educational institutions.
Read More
Apple and Goldman Sachs have announced a new joint-venture to provide U.S. customers with a new way of earning interest on their account balances. The Apple and Goldman Sachs Savings Account will offer a competitive annual interest rate of 4.15%.
The new Apple and Goldman Sachs Savings Account is designed to be a simple, low cost and convenient way to set aside and earn interest on available funds at interest rates that are higher than standard savings accounts. The account is authorized and insured by the Federal Deposit Insurance Corporation (FDIC), and will be issued by Goldman Sachs Bank USA as part of Goldman Sachs Digital Advisory Group.
For those interested in taking advantage of the Apple and Goldman Sachs Savings Account, signing up is easy. Apple customers can access the Savings Account through their Apple Wallet with a few taps, of course after verifying their identity. Apple customers will have access to their statement information, transfers, and mobile tools in a convenient, secure and easy-to-use interface.
In a statement released by Apple and Goldman Sachs, they describe their Savings Account as “designed to help customers grow their savings with attractive rates and helpful tools”. In addition to the 4.15% interest rate, customers will also receive additional help through Apple’s integrated financial education feature “Today at Apple”.
The Apple and Goldman Sachs Savings Account is just the latest in a series of joint-ventures initiatives by the two companies since 2018. Apple users have access to a range of Goldman Sachs financial services, including the Apple Card, with plans to offer more soon. This partnership is seen as an integral part of Apple’s effort to extend its reach across different aspects of digital banking.
For those looking for a simple, convenient and secure way to earn interest on their available funds, the Apple and Goldman Sachs Savings Account is an attractive option.
END.
