Apple and Goldman Sachs are seeking to lure US depositors to a new savings account by offering to pay interest at more than 10 times the national average rate.
The California tech giant and Wall Street bank on Monday launched a new savings account yielding 4.15 per cent a year, having first announced the product in October.
This is well ahead of the average US savings account rate of 0.37 per cent, according to data from the Federal Deposit Insurance Corporation. It also outstrips competitors such as American Express which is offering 3.75 per cent and Goldman’s standalone savings account that operates under the Marcus brand, which offers 3.9 per cent.
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