Last month, Apple launched a new savings account, offering a rate over 10 times higher than the national average - 4.15%. This APY is on par with some of the top high-yield savings accounts on the market currently, so it makes sense why so many people rushed to save their cash in the new Apple savings account.
On the first day of its launch, the high-yield saving account from Apple brought in almost $400 million in deposits, two unnamed sources told Forbes. They also said that in a matter of only four days, Apple’s high-yield account raked in almost $1 billion in deposits.
