Openbank vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
Openbank
High-Yield Savings Account
4.20%APYDec 10, 2025FDIC InsuredLow MinimumsShow Fine Print & Trends Hide Details
Openbank
High-Yield Savings Account
Upgrade
Premier Savings
3.05%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Upgrade
Premier Savings
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Openbank vs. Upgrade Savings Calculator
Openbank earns $734.7 more than Upgrade.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
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 Openbank vs. Upgrade
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.05%) on all balances
Why Upgrade?
- ✓Higher rated iOS app (4.9 vs 3.1)
- ✓Higher rated Android app (4.5 vs 3.1)
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $305/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $763/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
UpgradeUpgrade offers an iOS app rated 4.9 (vs. 3.1) and Android app rated 4.5 (vs. 3.1)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $115 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the clear winner compared to Upgrade's Premier Savings account, which has a lower APY of 3.05%. Openbank's account stands out for its simplicity, requiring no direct deposit and having no maintenance fees, with a minimum deposit of $500. In contrast, Upgrade's account requires a minimum balance of $1,000 but also has no maintenance fees. Both accounts are online-only and FDIC insured, catering to customers seeking high-yield savings options.
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.
Top Market Contenders
See who beats both Openbank and Upgrade.
| Feature | Openbank | Upgrade |
|---|---|---|
| APY | 4.20% Verified: 12/10/2025 Stable (90d) | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | High-Yield Savings Account | Premier Savings |
| Minimum Deposit | $500 | $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 | iOS3.1 Android3.1 | iOS4.9 Android4.5 |
| BBB Rating | Not Rated | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Upgrade |
|---|---|---|
| High-Yield Savings Account | Premier Savings | |
Current APY | 4.20% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.4 | -11.7 |
Days Since Change | 141 | 39 |
9-Month High | 4.75% | 4.14% |
9-Month Low | 4.20% | 3.05% |
Adjustments / Mo | 0.31 | 0.31 |
Volatility Score | 0.027 | 0.107 |
How to read these metrics(Click to expand)
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