My Banking Direct vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | My Banking DirectHigh Yield Savings Account Jan 7, 2026 | UpgradePremier Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 3.05% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$153 $10,000+$305 $25,000+$763 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing My Banking Direct vs. Upgrade
As of My Banking Direct offers an APY of 4.02% for its High Yield Savings Account, with a minimum balance of $1, compared to Upgrade's 3.05% APY for its Premier Savings account, with a minimum balance of $1,000.
My Banking Direct pays $97 more than Upgrade on a $10,000 balance after one year. My Banking Direct pays $402, while Upgrade pays $305 - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 3.05%) on all balances
- ✓Fast transfers via Zelle®
Why Upgrade?
No distinct advantages found vs My Banking Direct.
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $305/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $763/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
UpgradeUpgrade offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.5 (vs. 4.3)
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $97 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 as of
My Banking Direct offers a High Yield Savings Account with an impressive APY of 4.02%, making it the clear winner compared to Upgrade's Premier Savings account, which provides a lower APY of 3.05%. My Banking Direct's account requires a minimum deposit of $500 and has no direct deposit requirement, while Upgrade's account has a minimum balance requirement of $1,000 but also does not require direct deposits. Both accounts are online-only and have no maintenance fees, making them accessible options for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
My Banking Direct vs. Upgrade Savings Calculator
You earn $97 more with My Banking Direct than Upgrade 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.
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
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.
| Feature | My Banking Direct | Upgrade |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 3.05% Verified: 1/7/2026 ↘︎ 0.37%90d Change |
| Product Name | High Yield Savings Account | Premier Savings |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $1 | $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 | iOS4.7 Android4.3 | iOS4.9 Android4.5 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Not Supported |
| BBB Rating | F | A+ |
| Next Steps | Visit SiteVerify at My Banking Direct Non-sponsored link to official site | Visit SiteVerify at Upgrade Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | My Banking Direct | Upgrade |
|---|---|---|
| High Yield Savings Account | Premier Savings | |
Current APY | 4.02% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.0 | -11.1 |
Days Since Change | 53 | 67 |
11-Month High | 4.45% | 4.14% |
11-Month Low | 4.02% | 3.05% |
Adjustments / Mo | 0.43 | 0.26 |
Volatility Score | 0.035 | 0.119 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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