Apple (NASDAQ:AAPL) stock is a hot topic among investors on Tuesday after the company launched a high-yield savings account with the help of Goldman Sachs (NYSE:GS).
These savings accounts will be available to those with an Apple Card and have a yield rate of 4.15%. It’s a decent offering from the tech company as it continues to expand into the payments market and could bring in more users that already use its tech ecosystem.
Customers that do choose to take part in the Apple Card savings account do have some restrictions. For example, the account is only allowed to hold up to $250,000. That matches the coverage the accounts have through the Federal Deposit Insurance Corporation (FDIC).
Benefits of an Apple Savings Account
Jennifer Bailey, Vice President of Apple Pay and Apple Wallet, said the following about the savings account in a news release:
“Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day […] Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place.”
AAPL stock is up slightly as of Tuesday morning and up 32.8% since the start of the year.
Investors on the lookout for more of the most recent stock market news today are in luck!
We’ve got all of the hottest stock market coverage traders will want to read about on Tuesday! Among that news is what has shares of Nuvei (NASDAQ:NVEI), Enovix (NASDAQ:ENVX) and Nvidia (NASDAQ:NVDA) stock moving today. You can find out more on these matters at the links below!
More Tuesday Stock Market News
- Nuvei (NVEI) Stock Falls Despite Ryan Reynolds’ Investment
- Enovix (ENVX) Stock On The Move After Announcing $150 Million Offering
- NVDA Stock Alert: Is Nvidia Really Worth $355?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
