Charles Schwab Bank vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Upgrade
Premier Savings
3.05%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Upgrade
Premier Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Charles Schwab Bank vs. Upgrade Savings Calculator
Upgrade earns $1,743.5 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$1,829.60(9.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,829.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. Upgrade
Why Charles Schwab Bank?
No distinct advantages found vs Upgrade.
Why Upgrade?
- ✓Higher potential APY (3.05% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 2.9)
— Key Feature Differences —
Better Returns at $10,000
UpgradeUpgrade's Premier Savings earns more on smaller deposits (approx. $305 vs $15/yr).
Better Returns at $25,000
UpgradeUpgrade's Premier Savings pulls ahead with larger amounts (approx. $763 vs $38/yr).
Best for Simplicity
UpgradeUpgrade's Premier Savings offers 3.05% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Upgrade's Premier Savings pays $290 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Upgrade offers a significant advantage with its Premier Savings account, boasting an APY of 3.05%, which is substantially higher than Charles Schwab Bank's Schwab Bank Investor Savings™ at 0.15%. Both accounts have no maintenance fees and require no minimum deposit to open, but Upgrade's account does have a minimum balance requirement of $1,000. Upgrade's product is online-only, providing a straightforward savings option without the need for direct deposit. In contrast, Schwab's offering provides daily compounding interest with a minimal balance requirement of just $0.01, making it accessible for those looking to start saving with very little upfront.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both Charles Schwab Bank and Upgrade.
| Feature | Charles Schwab Bank | Upgrade |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | Schwab Bank Investor Savings™ | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $1,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS4.9 Android4.5 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Upgrade |
|---|---|---|
| Schwab Bank Investor Savings™ | Premier Savings | |
Current APY | 0.15% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -10.6 |
Days Since Change | 314 | 40 |
10-Month High | 0.15% | 4.14% |
10-Month Low | 0.15% | 3.05% |
Adjustments / Mo | 0.00 | 0.29 |
Volatility Score | 0.000 | 0.105 |
How to read these metrics(Click to expand)
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