Apple joins the battle for American savings in the banking industry! With an annual yield of 4.15%, do you want it?

The account, which has no fees, no minimum deposits and no minimum balance requirements, offers an annual percentage yield of 4.15%, As of April 12, the national average yield for savings accounts is 0.24% APY, AAPL s offer would thus more than 10x the national avg.

The offer has:
•No fees
•No minimum deposits
•No minimum balance
On top aaple is partnering up with Goldman Sachs for this project which allows the accounts to be insured by the FDIC for up to a balance of $250k.

Given where treasuries are sitting AAPL should be able to attract new customers for AAPL pay and make a profit on top.
They mention that yields can change at any time.

Keep in mind Aaple reported sitting on $202.5 billion in cash and investments and can hedge any risk via its reserves.