Upgrade savings rates
Upgrade advertises 3.30% APY on its Premier Savings account. That is 2.93 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #214 of 2929 tracked savings rates by advertised APY. For a $10,000 balance it would rank #132.
Upgrade at a glance
| Savings | |
|---|---|
| Top savings APY | 3.30% · Premier Savings |
| Minimum to open | $0 · Premier Savings |
| Against the national average | 2.93 percentage points above the 0.37% FDIC savings average (Sep 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 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 12.00%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.20% or more. See the highest savings rates.
Interactive Tool
Calculate Savings for Upgrade
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,282.10(8.4%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,282.10
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 the savings and money market deposits it already holds, 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 Q2 2026, Cross River Bank paid a higher average rate on savings and money market deposits than 98% of banks that reported a figure (3,938 banks; FDIC call report). The all-bank median was 1.45%.
- Cross River Bank, savings and money market
- 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 savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
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 savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. 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 rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. 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. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the 3,938 banks that reported a figure for the quarter ending June 30, 2026.
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 | 3.30% | $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 Oct 14, 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
- 3.42%
- 12-month low
- 3.05%
- Advertised now
- 3.30%
- 0.12 percentage points below the 12-month high
The advertised Premier Savings rate, observed through Oct 14, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 23, 2026Premier SavingsRaise:3.05%to3.30%
- Premier Savings
- Up 0.25 percentage points from 30 days ago.
At the top advertised rates we observed for Upgrade's Premier Savings, $10,000 would have grown to about $10,307 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $9,968 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 | $8.5B assets · $6.7B deposits, $5.3B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 58410 |
| BBB rating | A+ · BBB Accredited |
| Affiliation | Cross River Bank |
| Charter state | New Jersey · the charter, Cross River Bank, is one of 50 insured banks chartered there (Q2 2026, FDIC) |
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 Oct 14, 2026. Check the bank's current terms before you open an account.
Upgrade against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Upgrade | 3.30% | 3.41% | $0 | not stated |
| Border Bank | 3.30% | 2.32% | $50 | 11 branches in MN, ND |
| Clear Lake Bank and Trust Company | Up to3.30% | 1.37% | not stated | 5 branches in IA |
| Empire State Bank | 3.30% | 2.26% | $25,000 | 7 branches in NY |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose 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.
CIT Bank last changed its rate on February 4, 2026, up 10 basis points. Upgrade last changed its rate on September 23, 2026, up 25 basis points.
Upgrade vs CIT Bank- Upgrade vs SoFi Bank
- Upgrade vs Capital One
Newtek Bank last changed its rate on February 5, 2026, down 15 basis points. Upgrade last changed its rate on September 23, 2026, up 25 basis points.
Upgrade vs Newtek Bank- Upgrade vs Openbank
- Upgrade vs Pibank
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in New Jersey, nearest to Cross River Bank in deposits:
Rate hubs: today's highest savings rates.