How Does the Apple Savings Account Really Stack Up?

Amy Blankenship
2 min readMay 12, 2023
A white piggy bank and stacks of quarters are in the foreground, a person is on their phone in the background.
By Bits and Splits Adobe Stock Photo

I keep hearing about the new Apple Savings Account, including this breathless story about how it offers 4.15%. My checking account currently offers 5% if you meet all the conditions, so I wasn’t sure what all the fuss was. On the other hand, my actual savings account is only giving 3.75%, so I thought it was time to check out other options.

A quick check at NerdWallet shows Upgrade Premiere Savings offering 4.81%, Citizens offering 4.5%, and SoFi offering 4.2% on savings accounts.

Another option if you don’t need to touch your money for a while is Certificates of Deposit (CDs). When interest rates were low, CDs were basically useless. Who wants to tie up their money to earn a fraction of a percentage point on it? Now, things are a little different. It’s relatively easy to find CDs offering rates of over 4.5%, and NerdWallet shows 7 banks offering returns of 5% or higher on CDs with terms of less than 2 years, including Bread Savings with a 5.2% return.

It may well be time for me to move my money to one of these places that will make it work harder for me. What about you? Is your money earning as well as it could?

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Amy Blankenship

Full Stack developer at fintech company. I mainly write about React, Javascript, Typescript, and testing.