Re:Ask HN: How does Apple Offer 4.15% APY?
by nvy on Saturday April 22, 2023 @07:02PM
(#35671697)
It's actually a Goldman-Sachs account in Apple packaging. The federal funds rate is in the 4.75-5% range, which means Goldman, in theory, can take the money you deposit and re-lend it at 4.8% or so, pay you your interest, and still make a profit.
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