---
title: "Apple, Goldman Sachs Debut Savings Account With 4.15% Annual Yield"
description: "Apple Inc. introduced a long-promised high-yield savings account with Goldman Sachs Group Inc., turning to a key partner to push deeper into financial services."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2023-04-17-apple-goldman-sachs-debut-savings-account-with-4-15-annual-yield/"
published: "2023-04-17T17:58:46"
lang: "en-ZA"
word_count: 130
---

# Apple, Goldman Sachs Debut Savings Account With 4.15% Annual Yield

> Apple Inc. introduced a long-promised high-yield savings account with Goldman Sachs Group Inc., turning to a key partner to push deeper into financial services.

By Bloomberg · Published 17 April 2023, 19:58 SAST

## Key points
- Apple has stepped up its financial game, offering users a 4.15% annual yield on its Apple Card - enough to make the competition green with envy. But it hasn't been all smooth sailing, with delays in rolling out new services.
- Apple Card users can now earn a 4.15% annual yield with no fees, minimum deposit or balance requirements
- Apple is pushing into the financial industry to generate more revenue from services and lock in customers
- The “buy now, pay later” service took a long time to roll out after announcement
- The savings account took 6 months to appear after announcement

## Content

The new offering will let Apple Card users earn a 4.15% annual yield, more than 10 times the national average, the tech company said on its website Monday. The account has no fees, minimum deposit or balance requirements and can be set up from within the Wallet app.

Apple [announced](https://www.bloomberg.com/news/articles/2022-10-13/apple-teams-with-goldman-on-savings-accounts-for-its-card-users) the product in October, part of a series of new financial offerings. The idea is to generate more revenue from services, which have already surged in recent years, and provide yet another way to lock consumers into the Apple platform.

Still, pushing into the industry hasn’t always gone smoothly. A “buy now, pay later” service [suffered a long delay](https://www.bloomberg.com/news/articles/2023-03-28/apple-starts-to-roll-out-pay-later-service-after-long-delay) before beginning to roll out last month. And the savings account itself took about six months to appear after the announcement.