Apple's Savings Account Raked in $1 Billion In Days, Now Above $10 Billion

Since it's launch, the Apple Card’s high-yield savings account has reached $10 billion in deposits.

Apple logo on outside of building
(Image credit: Getty Images)

In April 2023, Apple launched a new savings account, offering a rate well above 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. Since then, Apple's high-yield savings account has topped $10 billion in deposits.

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.