Is Apple's High-Yield Savings Account Worth It? See How It Compares

Apple this week unveiled itslong-anticipated savings featurefor Apple Card holders.

This rate is fairly competitive, though some savings accounts are offering rates closer to 5.00% APY.

It requires your iPhone to runiOS 16.4or later.

The company also offers 3% cash back on all Apple purchases, and few fees.

Last month, the company launchedApple Pay Laterin the US.

Like other high-yield savings accounts we track at CNET, Apple doesn’t require a minimum deposit or balance.

But its convenient savings features for account holders are particularly striking.

And it’s possible for you to still deposit funds to your account to grow your savings even more.

Rates as of April 17, 2023.

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