Upgrade savings rates
Upgrade advertises 3.05% APY on its Premier Savings account. That is 2.67 percentage points above the national savings average of 0.38% (FDIC, Aug 2026).
Ranked #103 of 337 tracked savings rates by advertised APY. For a $10,000 balance it would rank #76. It was #99 three months ago. The advertised rate has not changed in the 30 weeks since Banksparency began tracking it.
Upgrade at a glance
| Savings | |
|---|---|
| Top savings APY | 3.05% · Premier Savings |
| Minimum to open | $0 · Premier Savings |
| Against the national average | 2.67 percentage points above the 0.38% FDIC savings average (Aug 2026) |
| FDIC certificate | 58410 · San Francisco, CA |
|---|---|
| Website | www.upgrade.com |
| Availability | Nationally available |
Upgrade savings rates
Rates are APY. The national savings average is 0.38% (FDIC, Aug 2026). The top tracked savings rate on Banksparency is 5.00%. Across 57 savings accounts from 55 banks in the Banksparency core savings index, the median advertised rate is 3.52%, and one account in ten advertises 4.01% or more. See the highest savings rates.
Interactive Tool
Calculate Savings for Upgrade
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,181.20(7.8%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,181.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Upgrade pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced all of its deposits over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q1 2026, Cross River Bank paid a higher average rate than 97% of U.S. banks (all-bank median 2.27%).
- Cross River Bank, avg rate paid
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers every account that earns interest: savings, interest checking, money market accounts, CDs, and personal and business accounts at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older balances at the rates of earlier years, everyday transaction balances, and CDs that were priced in a different rate environment. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rate paid on interest-bearing deposits, quarterly. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Premier Savings | 3.05% | $0 | $0 | None | $0 | None | One rate |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
Every requirement above is explicit: no minimum, no fee, no direct deposit, no linked account (observed Sep 2, 2026).
Opening and using the account
| Availability | Nationally available |
|---|---|
| App Store rating | 4.9 out of 5 |
| Google Play rating | 4.4 out of 5 |
| Eligibility | not stated |
How Upgrade behaves over time
- 12-month high
- 4.02%
- 12-month low
- 3.05%
- Advertised now
- 3.05%
- 0.97 percentage points below the 12-month high
The advertised Premier Savings rate, observed through Sep 2, 2026. The series includes promotional tiers where one applied.
Upgrade has not changed its advertised savings rate in the 30 weeks since Banksparency began tracking it.
- Premier Savings
- The same as 90 days ago.
- Rate last changed
- Jan 21, 2026(effective date)
At the top advertised rates we observed for Upgrade's Premier Savings, $10,000 would have grown to about $10,314 over the past year. Prices rose 3.4% in the year to July 2026 (Consumer Price Index (CPI)). So it buys as much as $9,978 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- Premier Savings APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
Who is Upgrade?
| Headquarters | San Francisco, CA |
|---|---|
| Founded | 2016 |
| Scale | $8.7B assets · $6.7B deposits, $5.3B of it interest-bearing (Q1 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 58410 |
| BBB rating | A+ · BBB Accredited |
| Affiliation | Cross River Bank |
Financial detail is in What Upgrade pays on deposits above.
Common questions about Upgrade
Is Upgrade FDIC insured?
Yes. Upgrade is FDIC insured under certificate 58410, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Upgrade?
Upgrade requires no minimum deposit to open its Premier Savings account, as observed on Sep 2, 2026. Check the bank's current terms before you open an account.
Upgrade against its closest alternatives
| Bank | Savings APY | Rate paid (Q1 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Upgrade | 3.05% | 3.61% | $0 | not stated |
| Jonestown Bank and Trust Company, of Jonestown, Pennsylvania | 3.05% | 1.85% | not stated | 14 branches in PA |
| First Federal Community Bank, National Association | 3.04% | 2.40% | not stated | 8 branches in OH |
| Petefish, Skiles & Co. | 3.03% | 1.72% | not stated | 6 branches in IL |
Alternatives are the three tracked banks whose highest savings APY is closest to Upgrade's.
Compare Upgrade with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
Similar banks and rate hubs
Banks in the same rate band with the same product mix:
Rate hubs: today's highest savings rates.