Apple presented a high savings account performanceo Long-time betrothed to Goldman Sachs Group Inc., turning to a key partner to delve into financial services.
(See: The Samsung app that lets you turn your iPhone into a Galaxy.)
The new offer will allow Apple Card users to obtain an annual return of 4.15%, more than 10 times the US average, the technology company said on its website.
The account has no fees, minimum deposit or balance requirements and can be set up from the aWallet app.
(See: Apple launches interest-free loan service: that’s how it works).
Apple announced the product in October, part of a series of new financial offers.
The idea is to generate more revenue from services, which have already increased in recent years, and provide another way to link consumers to Apple’s platform.
(See: Do you like? The design of the iPhone 15 that Apple would be developing).
Still, getting into the financial industry hasn’t always gone well for Apple. A service of “buy now pay later” suffered a long delay before starting to roll out last month.
And it took about six months for the savings account itself to appear after the announcement.
(See: Apple suppliers would be looking to locate outside of China).
BLOOMBERG
