After revolutionising the telecommunications sector, global tech giant Apple has a new target — the global fintech sector. Its latest offering, a savings account, has already taken the finance world by storm.

Apple's latest innovation, a high-yield savings account, may disrupt fintech

Apple's latest innovation, a high-yield saving account, may disrupt fintech

Tech giant Apple launched its Apple Card savings account with a 4.15 percent annual percentage yield (APY). The company said Apple Card users can grow their Daily Cash rewards with a savings account provided by Goldman Sachs (GS).

Apple launches its high-yield savings account with 4.15% interest rate

The finance ministry on Thursday issued a formal order for withdrawal of the cut in interest rates on small savings schemes and restored the old rates. Earlier in the day, Finance Minister Nirmala Sitharaman said the government will rollback the steep interest rate cut on small savings schemes.

Government cites oversight, withdraws order to cut interest rates on small savings schemes

As divisions grow at the European Central Bank over continued interest rate cuts, at least one indicator appears to side with policymakers who are arguing for tighter monetary policy: household savings rates.

Rising European savings could undermine case for negative rates

Under the scheme, the piggy bank savings account can be opened by parents of a child since his birth with just Rs one.

Madhya Pradesh kids save Rs 1 crore in piggy bank savings accounts

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