(ATLANTA, Ga.) — Apple is offering a new high-yield savings account that is connected to their credit card.
WSB Consumer Advisor Clark Howard says even if you don’t have an iPhone, or get Apple’s credit card, you can still find some great rates to grow your money.
According to Forbes, roughly 240,000 Apple savings accounts were opened in the first week the program was launched, bringing in as much as $990 million in deposits over its first four days.
“Apple is paying a great rate on savings tied in with the Apple credit card,” Howard said. “And people are making so much more money than you typically make on savings.”
But even if you don’t sign up for Apple’s credit card, there are great rates on savings accounts that are available to everyone.
“Most of the best deals, just like the one from Apple with an online bank are fully federally insured to $250,000,” Howard said. “Great problem to have if you have more than $250,000.
There are lots of choices where you can earn 4 percent interest or more on your savings account.
Most of these accounts only require $1 to open your account.
To see today’s best interest rates available, visit bankrate.com and click on high-yield savings.