Apple’s 4.15% Savings Account Marks Golden Age of Cash

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by thexumaker on Wednesday April 19, 2023 @05:13AM (#35626041)

wealthfront has 4.3% and 3 mil fdic, way better options available.

[ Parent | on HN ]

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by senttoschool on Wednesday April 19, 2023 @08:50AM (#35627489)

Robinhood is 4.4% an insured by up to $1.5m.

But the Apple option is attractive for those who want to trust a bigger name - even though their money is insured.

[ Parent | on HN ]

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by yunwal on Wednesday April 19, 2023 @11:17AM (#35629218)

Obviously Apple is a big name, but bigger than the FDIC?

[ Parent | on HN ]

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by reducesuffering on Wednesday April 19, 2023 @06:08PM (#35633936)

Robinhood requires a $5/mth subscription for that rate, otherwise 1.5%.

[ Parent | on HN ]

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by senttoschool on Friday April 21, 2023 @01:36AM (#35650104)

Yes, but the assumption is that the $5 is easily compensated by the extra interest.

[ Parent | on HN ]

Re:Apple’s 4.15% Savings Account Marks Golden Age of Cash by reducesuffering on Friday April 21, 2023 @01:00PM (#35656709)

It was in comparison to Apple's 4.15% and Wealthfront's 4.3%. So that's .1 - .25%. And I think most would argue that, at max, you should have a year's bills in cash. So that's like $30k - $80k. Assuming standard marginal income tax rate of 30%, that extra interest is $30 - $400, so $21 to $280, and Robinhood's $60/yr loss, so -$39 to $220. Maybe kind of worth it at the high end, but I guess I should also then mention that 4mo T-bills pay 5.17%.

[ Parent | on HN ]