An Apple Card savings account offers a better APY than DeFi

Apple has announced a new savings account linked to its Apple Card. The returns are impressive, but how does it compare to other DeFi savings and payment providers?

On April 17, Apple, the world’s largest technology company, announced a new savings account for its cardholders.

Furthermore, it claimed that the yield was “more than 10 times the national average”.

Apple Card users can choose to top up their daily cash rewards with a savings account from Goldman Sachs, which offers a high-yield APY of 4.15 percent.

Users will be able to access their wallet’s savings dashboard on their iPhone or other Apple devices. This enables them to track balances and interest accrued over time.

the moves It comes at a time when the interest offered by the big banks remains woefully low.

How does Apple compare?

According to Bankrate’s weekly survey of banks, the national average APY for US savings accounts is 0.26%.

However, it is male Some online banks, such as UFB Direct, CIT Bank, and Bask Bank, offer returns above 4.5%.

However, according to DeFiLlama, there are many better DeFi stablecoin pools out there can not match this. Curve Finance’s three largest stablecoin groups are currently offering between 0.94% and 2.04%.

Furthermore, Aave’s USDT and USDC pool returns were 2.18% and 1.97%, respectively. Convex Finance was offering between 2.18% and 3.24% for the Frax stablecoin pools. JustLend was the only stablecoin return provider in the top ten DeFi protocols that could beat Apple. However, 4.68% was on savings for the currently unpegged US dollar.

DeFi saving rates on Stablecoins – DeFiLlama

In addition, the interest available on MakerDAO’s Dai savings rate (DSR) is a paltry 1% at the moment for a DAI contract.

Returns were slightly better on centralized stablecoin exchanges. Binance Earn (which is blocked in certain geolocations) was offering 3.19% on flexible USDT savings.

The highest DeFi returns were on the Beefy exchange, which ranged between 67.9% and 87.9%. However, the caveat was that the combination was USDC and an obscure stablecoin called WUSDR (Wrapped Real USD).

DeFi is back to reality

The insane triple-digit returns offered in DeFi during the bull market were unsustainable. This was partly responsible for the excessive leverage and greed that caused its collapse in 2022.

Now there are calmer waters in DeFi circles, savings rates are closer to reality.

However, Apple appears to be the winner with its savings account in comparison. Unfortunately for non-Apple heads, the caveat is that you have to be fully integrated into the tech giant’s consuming ecosystem to enjoy it.


Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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