Chime vs. Upgrade
Upgrade edges out Chime slightly at 3.05% vs 3.00% APY. On a $10,000 balance, the difference is just $5 per year—so other factors may matter more.
The Bottom Line
The Chime and Upgrade savings accounts are very similar. Choose Upgrade if you want a no-strings-attached account.
Important Considerations
Chime requires a checking account to unlock its top savings rate, while Upgrade offers its savings account standalone.
| Metric | ChimeChime High-Yield Savings Account Feb 6, 2026 | UpgradePremier Savings Feb 6, 2026 |
|---|---|---|
| APY | 0.75% - 3.00% | 3.05% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$153 $10,000+$305 $25,000+$763 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
Chime offers a High-Yield Savings Account with a competitive APY of 3.00%, but it requires a qualifying direct deposit of $200 or more within the preceding 34 days. In contrast, Upgrade's Premier Savings provides a slightly higher APY of 3.05% without any direct deposit requirement, making it a simpler option for savers. Both accounts are online-only and have no maintenance fees, but Upgrade's account allows for a minimum balance of $1,000. Overall, Upgrade's Premier Savings is the winner due to its higher APY and fewer requirements.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chime?
No distinct advantages found vs Upgrade.
Why Upgrade?
- ✓No checking account or direct deposit required
— Key Feature Differences —
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 $5 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. Upgrade Savings Calculator
You earn $5 more with Upgrade than Chime on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$305.00(3.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,305.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $299 per year in interest.
Both Chime and Upgrade dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Chime | Upgrade |
|---|---|---|
| APY | 3.00% Range: 0.75% - 3.00% Verified: 2/6/2026 ↘︎ 0.50%90d Change | 3.05% Verified: 2/6/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $1,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | N/A |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Chime Non-sponsored link to official site | Visit SiteVerify at Upgrade Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Upgrade |
|---|---|---|
| Chime High-Yield Savings Account | Premier Savings | |
Current APY | 3.00% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | 6.6 | -11.6 |
Days Since Change | 7 | 97 |
12-Month High | 3.75% | 4.14% |
12-Month Low | 2.00% | 3.05% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.165 | 0.128 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
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Compare Upgrade vs...
Comparing against Standard Savings
More Comparisons
Compare Chime's APY of 3.00% with other banks
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 | 4.21% | $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 CIT Bank | 3.75% | $100 |
| Upgrade vs Citibank | 3.20% | $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 | 4.20% | $0.01 |
| Upgrade vs Openbank | 4.09% | $500 |
| Upgrade vs Pibank | 4.60% | $0 |
| Upgrade vs SoFi Bank | 4.00% | $0 |
| Upgrade vs Synchrony Bank | 3.50% | $0 |
| Upgrade vs Varo Bank | 5.00% | $0 |
| Upgrade vs Wealthfront | 3.95% | $0 |
| Upgrade vs Wells Fargo | 0.05% | $25 |