Apple has launched its high-yield Apple Card Savings account, an addition to existing Apple Card owners that allows them to earn interest on money that they save with Apple or, if we're being picky, Goldman Sachs.

The savings account is now available for everyone who has an Apple Card and Apple says that their Daily Cash rewards will be automatically saved in their new account. There are no minimum balance requirements and setting up a new savings account appears to be a case of tapping a few buttons in the Wallet app.

4.15 per cent APY interest from a savings account

Apple announced its new savings account via a press release, saying that the 4.15 per cent interest rate is more than 10 times the U.S. national average. And while Daily Cash will be added to the savings account automatically, that isn't the only way to fund it. Apple says that people can add their own money whenever they want and still earn that same rate.

“Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet in the Apple announcement post on its Newsroom site. “Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place.”

All of a user's savings can be seen in the Savings dashboard in the Wallet app on their iPhone, while money can also be withdrawn at any time by transferring it into a linked bank account. The funds can also be moved into Apple Cash if they prefer, allowing it to be used to fund purchases via the Apple Cash card with no fees applied.

Of course, all of that sounds pretty grand but there's only one problem - Apple Card and this new savings account are only available in the United States. That means that iPhone users around the world are left in the cold with little suggestion that will change in the future.

But if you're in the United States and have an Apple Card, this seems like a no-brainer for those looking to earn interest on their money.