[herpdyderp]

> Too low APR for long term savings

What APR is your baseline for long term savings? I'm interested in where you see significantly higher APR savings accounts because the Apple Card Savings Account is 400x my previous savings account APR.

[jrockway]

I don't have a savings account but buy CDs on a regular basis. For the next two years, I have something between 5% and 6% maturing every 3 months. Apple Card Savings is 4.15%.

So you can definitely do better than the Apple Card, but to some extent you're paying bankers to do what I do manually every 3 months. (You just pay them in "spread"; they're buying the same CDs I am, but keeping some of the profits to themselves. And letting you withdraw the money whenever you want, not just when the underlying CD matures. I get only a small amount of interest on my "what if I get fired and need to eat for 3 months until the next CD matures?" fund, sitting in my checking account.)

I never bother with actual savings accounts because in a year or two interest rates will be back down to 0.0000001% or whatever, in which case just holding the cash in my brokerage account is easier. (At least it gets swept into an overnight account that earns 0.0000015% interest! Wow!)

[sgerenser]

There’s at least 50 different online banks that are paying more than 4.15%. Check out depositaccounts.com. Off the top of my head, Ally, Capital One, Vio Bank, MyBankingDirect, SoFi, and a bunch of others. If you’re getting less than 5% it’s time to open a new account.

[renewiltord]

I have a HYSA with UFB Direct (5.25% APY) and if you use Wealthfront or Robinhood, their paid offerings have 5%-ish. Apply is like 4.5% or something. I've been meaning to move that out to one of the 5% accounts.

[function_seven]

It's way better than my previous savings account as well, but still about 0.5-0.75 points lower than a couple of CDs that I have.

Not sure if that counts as significant or not, but I figure it adds up.

Apple Savings: 4.15%

CIT Bank 6-Mo CD: 4.88%

CIT Bank 18-Mo CD: 4.5% I think?

[CydeWeys]

It's pretty easy to find 5% right now, especially with money market sweep accounts that invest in US treasuries.

[3-cheese-sundae]

As of this writing, Ally is still higher than Apple Savings account (4.25% APY vs 4.15% APY)