Apple savings account review

Do you want to learn about all the features of the Apple savings account? Responsible Economy thoroughly analyzes the fees, requirements, yields, and all the conditions that Apple offers in its savings account. Additionally, we provide a comparison with the best savings accounts that you can open in the United States, along with an explanatory video to guide you through the process.

Explicative video

We’ve created a video that presents a straightforward summary of all the features of the Apple savings account. If you find our content helpful and informative, we’d greatly appreciate your support through a subscription. By subscribing, you’ll receive daily videos covering a wide range of topics related to responsible finance and economy.

Apple savings account


In this section, we’ll explore all the features of the Apple savings account.

Interest rate

Undoubtedly, the most crucial aspect of any savings account is the yield it offers. Apple provides an attractive interest rate of 4.15% APY, making it one of the highest rates available for savings accounts in the United States.


Understanding the fees associated with an account is essential as they can impact your overall returns. With Apple, you’ll enjoy the benefit of no opening fees or monthly maintenance fees for their online savings account.

Minimum deposit

An advantage of the Apple savings account is that no minimum deposit is required to open the account. This makes it accessible to individuals without a large initial amount.

Deposit funds

You can conveniently deposit funds into your Apple savings account by making bank transfers.

Best savings accounts 2023

We’ve conducted a comparison of the Apple savings account with the top savings accounts that you can open in the United States in 2023. In this comparison, we present the main characteristics of each savings account.

CIT Bank Logo
  • 4.05% APY
  • Minimum deposit: $100
  • No welcome bonus
  • Member FDIC
Marcus by Goldman Sachs
  • 4.30% APY
  • Minimum deposit: $0
  • Welcome bonus: $100
  • Member FDIC
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo Sofi
  • 4.50% APY
  • Minimum deposit: $0
  • Welcome bonus: $250
  • Member FDIC
Barclays Logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo capital One CDs
  • 4.30% APY
  • Minimum deposit: $0
  • Member FDIC
  • No welcome bonus
Discover logo
  • 4.30 APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC

Savings accounts calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

Apple savings account calculator

Apple savings account calculator

Your earnings:
Total Result:

Video with the best savings accounts

We also have made a video with the best savings accounts:

Video with the 7 best savings accounts

Pros and cons

Once we have reviewed all the features of the Apple savings account and thoroughly analyzed the main characteristics of the best savings accounts, we are now ready to present a table summarizing all the advantages and disadvantages:

High yieldsNo branches in the United States
No fees
No minimum balance
Pros and cons Barclays savings account


Opening the savings account is incredibly simple, as you only need to meet the following requirements:

  • Age: You must be over 18 years old.
  • Apple Credit Card: You need to have an Apple credit card.
  • iPhone: Owning an iPhone is necessary.
  • Residency: You need to live in the United States.
  • Phone Number: You must have an American phone number.


In addition to the requirements mentioned earlier, they may also ask you for the following documentation to complete the account opening process:

  • Certified copy of identity document (for each applicant): In most cases, a current, valid passport will be sufficient. However, some other types of ID may also be acceptable.
  • Certified copy or original proof of address (for each applicant): Your proof of address will typically be a bank or building society statement, or a utility bill, that confirms your residential address.
  • Your signed Client Agreement: The bank will require you to sign the Client Agreement, which outlines the terms and conditions of the savings account and your responsibilities as an account holder.

Frequent questions

Here we answer all the questions you may have:

Conclusions and opinions

After conducting a thorough review, our opinion is that Apple offers one of the best savings accounts in the United States. There are several reasons for this assessment:

  1. High Interest Rate: Apple provides a very competitive interest rate, making it one of the highest in the market. This means your savings can grow at an accelerated pace compared to many other accounts.
  2. No Commissions: The fact that Apple doesn’t charge any commissions ensures that your returns remain unaffected by unnecessary fees.
  3. No Minimum Deposit: The absence of a minimum deposit requirement makes it accessible to a broader range of individuals, allowing everyone to start saving without financial barriers.

However, it’s essential to consider the following points:

  1. Device and Credit Card Requirements: To open the savings account, it is mandatory to have an iPhone and an Apple credit card. This requirement may limit eligibility for those who do not meet these criteria.

More information about Barclays

Here you have interest information about Apple:

Interest information about Apple

Finally you have a related posts about savings account:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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