Apple's high-yield savings account hits over $10 bln in customer deposits

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Aug 2 (Reuters) - Apples (AAPL.O) high-yield savings account offered by its partner Goldman Sachs (GS.N) has reached over $10 billion in customer deposits, the technology giant said on Wednesday...

The deposit account, which was launched in April, lets Apple Card users earn an annual percentage yield of 4.15% on savings accounts...

U.S. lenders have had to offer higher rates on customer deposits to prevent clients from moving their funds to other high-yield alternatives, especially after an industry crisis earlier this year shook customers' faith in the financial health of banks...

Full story at Reuters | 

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