Fairview HK: A New High-Interest Savings Account from Apple Is Now Available

CENTRAL, Hong Kong - June 7, 2023 - PRLog -- Starting on Monday, Apple Inc. (AAPL) Card holders will have access to a savings account from The Goldman Sachs Group Inc. (GS), allowing them to compound their daily cash rewards. The annual percentage yield (APY) of 4.15% on this account is much greater than the national average of 0.0%, as stated by the Federal Deposit Insurance Corp.

CFG Bank has the highest savings account interest rate, at 5.02%, according to Investopedia research. The FDIC reports that the average annual percentage yield (APY) for savings accounts is 0.37%.

This account has no minimum deposit requirement but does have some restrictions. Any deposits or withdrawals that would push the account balance beyond $250,000 will be declined.

Apple Cash may be used to deposit and withdraw from this account, with a one dollar minimum and a $10,000 limit per transaction. In addition, you can't send more than $20,000 in a week's time using Apple Cash.

Certain conditions must be met, and participation is restricted. Customers thinking about opening an Apple account should think about how it stacks up against similar high-yield savings accounts.

Apple Deepens Its Financial Market Presence

This follows Apple's introduction of a Buy Now Pay Later program, through which customers may divide the cost of an item across four instalments deducted straight from their wallet.

Fairview HK Limited is one of the foremost privately owned Asia-Pacific orientated, boutique wealth management firms in Hong Kong. We offer our services to a selected group of families, family offices, institutions and fund managers, you may visit our website https://fairviewhk.com/ or contact us via email.