Apple now offers a high-yield savings account: who could ask for it?

(CNN) – Apple announced on Monday that it is now offering a 4.15% interest savings account at Goldman Sachs for Apple Card holders. Customers will have access to both the 3% cash back they receive for using the card on certain purchases, as well as other savings they wish to deposit.

Ted Rossman, senior analyst at Bankrate, said the new product will provide a more comprehensive financial services experience under the Apple umbrella for customers, who have to use Apple devices to get benefits. For example, you can only get an Apple Card if you use an Apple phone.

Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said in a statement that the savings option “helps our users get more value from the benefits of their favorite card — Daily Cash — while giving them an easy way to save money every day.”

He added, “Our goal is to build tools that help users live healthier financial lives, and build Apple Card savings into Wallet that allows them to spend, send, and save Daily Cash directly and seamlessly, all from one place.”

The Apple Savings Account through Goldman Sachs is insured by the Federal Deposit Insurance Corporation (FDIC).

Banking ratings highly rate the Apple Card as a no-fee rewards credit card. In this sense, the convenience of having a high-yield savings account for the cash rewards the cardholder receives can be attractive.

The good news is that both Apple customers and anyone interested in increasing their savings can choose from several high-performance options, not limited to the Apple Card.

Interest rates in general, asset-rich banks are still well below 1%. But there are plenty of deals in online banks that are FDIC-insured.

Rossman notes that Apple’s bid rate of 4.15% is 11th of the highest on the Bankrate list. Number 1 is 5.02% of UFB Direct. Three other banks, LendingClub Bank, Rising Bank and Citizens Access, are currently offering 4.25%.

For funds held between three months and a year, you will get higher rates if you purchase an FDIC insured certificate of deposit.

For example, according to Rossman, the highest-yielding one-year Certificate of Deposit now offers 5.2%, and that interest rate lasts for 12 months. By contrast, the interest rate on a high-yield savings account — including Apple’s new offering — can go up or down at any time without prior notice.