Upgrade
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Premier Savings: 4.02% APY(Rank 42 out of 74 tracked HYSAs)
Minimum Deposit: $0 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: San Francisco, California
Affiliation: Cross River Bank
BBB Rating: A+
App Store Rating: 4.9/5
Google Play Rating: 4.5/5
Website: Visit Upgrade
Our Take on Upgrade
Highlights
- Current APY of 4.02%, unchanged from 30 days ago.
- No maintenance fees for the Premier Savings account.
- A+ BBB rating indicates strong trustworthiness.
- High App Store rating of 4.9.
Considerations
- Minimum balance requirement of $1,000 for Premier Savings.
- No physical branches available.
- Direct deposit not required but may limit some users.
- Google Play rating of 4.5 is lower than App Store rating.
Summary: Upgrade offers a competitive APY of 4.02% on its Premier Savings account, which has no maintenance fees. However, it requires a minimum balance of $1,000 and operates online only, which may deter some users. The bank holds an A+ BBB rating and has a high App Store rating of 4.9, although its Google Play rating is slightly lower at 4.5. Overall, Upgrade presents a solid option for savers comfortable with online banking.
Savings Account
Savings Account Offered by Upgrade
| Feature | Premier Savings |
|---|---|
| APY | 4.02% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $1,000 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
No deposit agreement summary available for this bank. | |
Calculate Savings for Upgrade
All calculations are based on APY.
Premier Savings (APY: 4.02%)
⚠️ The minimum balance for APY on this account is $1,000.
Deposit Frequency:
Total savings breakdown:
- Interest earned: $0 (0.00%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (100.00%)
Your total balance
$100.00
Effective APY: 0.00% (based on your deposit and contributions)
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Upgrade Savings Rates Over Time
Historical APY Insights
| Metric | Premier Savings |
|---|---|
| Latest APY | 4.02 % |
| Trend | Sideways |
| Slope (bps/mo) | -3.4 |
| Rate Changes / Mo | 0.20 |
| Days Since Last Change | 89 |
| High (-5 m) | 4.14 % |
| Low (-5 m) | 4.02 % |
| Draw-down from High | -2.9 % |
| Volatility (CV) | 0.015 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 151 days.
- Low (-5 m)
- Lowest APY in the last 151 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Upgrade's Savings Account
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- Santander Bank - 0.03% APY
- SoFi Bank - 3.80% APY
- Synchrony Bank - 3.80% APY
- TAB Bank - 4.26% APY
- TD Bank - 0.05-3.00% APY
- The State Exchange Bank - 1.90% APY
- TIMBR - 4.40% APY
- UFB Direct - 4.01-4.21% APY
- Valley Direct - 4.20% APY
- Varo Bank - 2.50-5.00% APY
- Western Alliance Bank - 4.30% APY
- Zynlo Bank - 4.35% APY
| Feature | Upgrade | Select a bank... |
|---|---|---|
| Product | Premier Savings | N/A |
| APY | 4.02% (as of 6/20/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $1,000 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |