Discover Bank vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
Discover Bank
Online Savings Account
3.40%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
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.
Discover Bank vs. Upgrade Savings Calculator
Discover Bank earns $220.9 more than Upgrade.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
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 Discover Bank vs. Upgrade
Why Discover Bank?
- ✓Higher potential APY (3.40% vs 3.05%) on all balances
- ✓Higher rated Android app (4.8 vs 4.5)
Why Upgrade?
No distinct advantages found vs Discover Bank.
— Key Feature Differences —
Better Returns at $10,000
Discover BankDiscover Bank's Online Savings Account earns more on smaller deposits (approx. $340 vs $305/yr).
Better Returns at $25,000
Discover BankDiscover Bank's Online Savings Account pulls ahead with larger amounts (approx. $850 vs $763/yr).
Best for Simplicity
Discover BankDiscover Bank's Online Savings Account offers 3.40% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Discover Bank's Online Savings Account pays $35 more interest on a $10,000 balance than Upgrade's Premier Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Discover Bank offers a competitive Online Savings Account with a 3.40% APY, making it the clear winner compared to Upgrade's Premier Savings account, which has a lower APY of 3.05%. Both accounts are online-only and require no maintenance fees or minimum deposits; however, Upgrade does require a minimum balance of $1,000. Discover Bank's account stands out for its simplicity, as it has no direct deposit requirement or caps on earnings, providing better returns on both smaller and larger deposits.
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 Discover Bank and Upgrade.
| Feature | Discover Bank | Upgrade |
|---|---|---|
| APY | 3.40% Verified: 12/10/2025 ↘︎ 0.10%90d Change | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | Online Savings Account | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $1,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.9 Android4.5 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | Upgrade |
|---|---|---|
| Online Savings Account | Premier Savings | |
Current APY | 3.40% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.7 | -10.3 |
Days Since Change | 71 | 39 |
11-Month High | 3.75% | 4.14% |
11-Month Low | 3.40% | 3.05% |
Adjustments / Mo | 0.37 | 0.28 |
Volatility Score | 0.035 | 0.105 |
How to read these metrics(Click to expand)
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