Upgrade: Savings Account & Rates
Mission: Banksparency aims to make Upgrade's savings account transparent and comparable to the market.
Savings Overview
Premier Savings
| Min. Deposit | $0 |
| Min. Balance | $1,000 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.20% APY.
Bank Overview
- HQ LocationSan Francisco, California
- AffiliationCross River Bank
- Ratings & Trust
- Zelle® SupportNo SupportStandard ACH or Wire transfers only.
- Deposit InsuranceFDIC Insured(Cert: 58410)
Our Take on Upgrade
The Good
- Decent APY of 3.05%
- Low opening deposit ($0)
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.9, Android: 4.5)
Considerations
- No physical branch access (online only)
- Yield is below current market leaders
Upgrade offers the Premier Savings account with an attractive APY of 3.05%. There are no fine print stipulations, and no direct deposit requirements, making it accessible with a low opening deposit of $0. Additionally, there are no monthly maintenance fees. However, it's important to note that this account is online-only, lacking physical branch access, and its yield is below that of current market leaders. The mobile apps are highly rated, with scores of 4.9 for iOS and 4.5 for Android.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Upgrade
| Feature | Premier Savings |
|---|---|
APY | 3.05%Verified: 1/21/2026 |
APY Trend | Rate Adjusted -0.37% Since 90 days ago |
Min. Deposit | $0 |
Min. Balance | $1,000 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Upgrade
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.
Upgrade Savings Rates Over Time
Historical APY Insights
Last 12 Months| Metric | Premier Savings |
|---|---|
Latest APY | 3.05% |
Trend | Falling |
Slope (bps/mo) | -11.1 |
Rate Changes / Mo | 0.25 |
Days Since Last Change | 81 |
High (-12m) | 4.14% |
Low (-12m) | 3.05% |
Draw-down | -26.3% |
Volatility (CV) | 0.123 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 364-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Upgrade
| Feature | Current View Upgrade | Empty Slot |
|---|---|---|
| Product | Premier Savings | - |
APY | 3.05%Verified: 1/21/2026 | - |
APY Trend | Rate Adjusted -0.37% Since 90 days ago | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Upgrade's APY of 3.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Upgrade vs Ally Bank | 3.30% | $0 |
| Upgrade vs American Express | 3.30% | $0 |
| Upgrade vs Axos Bank | 4.31% | $0 |
| Upgrade vs Bank of America | 0.01% | $100 |
| Upgrade vs Barclays | 4.00% | $0 |
| Upgrade vs Capital One | 3.30% | $0 |
| Upgrade vs Chase Bank | 0.01% | $0 |
| Upgrade vs Chime | 3.50% | $0 |
| Upgrade vs CIT Bank | 3.75% | $100 |
| Upgrade vs Citibank | 3.30% | $0 |
| Upgrade vs Discover Bank | 3.30% | $0 |
| Upgrade vs EverBank | 3.90% | $0 |
| Upgrade vs Marcus by Goldman Sachs | 3.65% | $0 |
| Upgrade vs Newtek Bank | 4.35% | $0.01 |
| Upgrade vs Openbank | 4.20% | $500 |
| Upgrade vs Pibank | 4.60% | $0 |
| Upgrade vs SoFi Bank | 4.00% | $0 |
| Upgrade vs Synchrony Bank | 3.65% | $0 |
| Upgrade vs Varo Bank | 5.00% | $0 |
| Upgrade vs Wealthfront | 3.90% | $0 |
| Upgrade vs Wells Fargo | 0.05% | $25 |
Alternatives to Upgrade
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
Wells Fargo
Way2Save Savings: 0.01% APY
Minimum Deposit: $25
Platinum Savings: 0.05% APY
Bundled Savings & Checking Account
Minimum Deposit: $25
Capital One
360 Performance Savings: 3.30% APY
Minimum Deposit: $0
Ally Bank
Savings Account: 3.30% APY
Minimum Deposit: $0
Online Only
SmartyPig
SmartyPig Account: 3.65% APY
Minimum Deposit: $0
Online Only
Evergreen Bank Group
High-Yield Online Savings: 4.25% APY (Inactive)
Minimum Deposit: $100
Online Only
Amalgamated Bank
Online Savings: 2.25% APY (Inactive)
Minimum Deposit: $100
EverBank
Performance Savings: 3.90% APY
Minimum Deposit: $0
Online Only
U.S. Bank
Smartly Savings: 3.50% APY
Bundled Savings & Checking Account
Minimum Deposit: $25
Chime
Chime High-Yield Savings Account: 3.50% APY
Bundled Savings & Checking Account
Minimum Deposit: $0
Online Only
Direct Deposit: You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days
Bread Savings
High-Yield Savings Account: 4.00% APY
Minimum Deposit: $100
Online Only
RBMAX
Max Interest Savings: 3.40% APY
Minimum Deposit: $10
Online Only
Vio Bank
Online Savings Account: 4.09% APY
Minimum Deposit: $100
Online Only