Apple Savings earns approximately 4.25% APY in 2026, with no minimum balance, no fees, and automatic Daily Cash deposits from your Apple Card. Here is everything you need to know.
Apple Savings at a Glance
| Feature | Details |
|---|---|
| APY | ~4.25% (variable) |
| Minimum balance | $0 |
| Monthly fee | $0 |
| Maximum balance | $250,000 (FDIC limit) |
| FDIC insured | Yes (Goldman Sachs Bank USA) |
| Requires Apple Card | Yes |
| Requires iPhone | Yes (Wallet app only) |
| Transfer time | 1–5 business days |
| Daily Cash auto-deposit | Optional |
How Apple Savings Works
Apple Savings is a high yield savings account built into the iPhone Wallet app. It has two funding sources:
- Daily Cash from Apple Card — set your Daily Cash destination to Apple Savings and every cashback deposit goes in automatically
- External bank transfer — link a bank account and transfer funds in from the Wallet app
Interest accrues daily and posts monthly.
Annual Interest at 4.25% APY
| Balance | Annual interest |
|---|---|
| $5,000 | $213 |
| $25,000 | $1,063 |
| $50,000 | $2,125 |
| $100,000 | $4,250 |
How to Open Apple Savings
Requirement: Active Apple Card on an iPhone running iOS 16.4 or later.
- Open the Wallet app on your iPhone
- Tap your Apple Card
- Tap Daily Cash → Manage
- Select Apple Savings as your Daily Cash destination
- Tap Open a Savings Account and follow the setup flow
- Link an external bank for additional deposits (optional)
Transferring Money In and Out
- Deposits: ACH from a linked bank (1–5 business days)
- Withdrawals: Back to your linked bank (1–3 business days)
- Daily Cash: Transfers automatically when Apple Card cashback posts
- Transfer limit: $10,000 per day, $25,000 per 30 days
Apple Savings vs Competitors
| Bank | APY | Min balance | ATM card | Requires product |
|---|---|---|---|---|
| Apple Savings | ~4.25% | $0 | No | Apple Card |
| Synchrony | ~4.50% | $0 | Yes | None |
| American Express | ~4.35% | $0 | No | None |
| Marcus by Goldman | ~4.30% | $0 | No | None |
| Ally | ~4.35% | $0 | No (reimburses) | None |
Apple Savings’s main drawback is that it requires an Apple Card and iPhone. For non-Apple Card holders, Synchrony or Ally offer comparable or better rates with no product requirement.
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