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

  • The pair joins broader race to lure depositors with high rates
  • Apple has been gradually expanding its financial offerings
Bloomberg business news
Watch: Apple and Goldman Sachs offer up a high-yield savings account.Source: Bloomberg
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Apple Inc. introduced a long-promised high-yield savings account with Goldman Sachs Group Inc., looking to attract US financial clients with an attractive rate and the ease of its Wallet app.

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 in a statement on its website Monday. The account has no fees, minimum deposit or balance requirements and can be set up from within the Wallet app.