Synchrony Bank vs. Upgrade
Comparing Synchrony Bank and Upgrade for high-yield savings: Synchrony Bank's High Yield Savings pays 3.50% APY while Upgrade's Premier Savings pays 3.05% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Synchrony Bank pays $45 more than Upgrade annually ($350 vs $305).
Choose Synchrony Bank if getting the best rate matters most.
| Metric | Synchrony BankHigh Yield Savings Feb 6, 2026 | UpgradePremier Savings Feb 6, 2026 |
|---|---|---|
| APY | 3.50% | 3.05% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $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 AppDaily 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.
Comparison Analysis
Comparing Synchrony Bank vs. Upgrade
Executive Summary
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.50%, making it the clear winner compared to Upgrade's Premier Savings account, which has a lower APY of 3.05%. Synchrony Bank's account stands out for its simplicity, requiring no minimum deposit or direct deposit, and it is entirely online. In contrast, Upgrade's account has a minimum balance requirement of $1,000. Both accounts have no maintenance fees and are FDIC insured, but Synchrony Bank provides a more attractive return on savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Synchrony Bank?
- ✓Higher potential APY (3.50% vs 3.05%) on all balances
Why Upgrade?
No distinct advantages found vs Synchrony Bank.
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $350 vs $305/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $763/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $45 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Synchrony Bank vs. Upgrade Savings Calculator
You earn $45 more with Synchrony Bank 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.
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
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 $304 per year in interest.
Both Synchrony Bank and Upgrade dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Synchrony Bank | Upgrade |
|---|---|---|
| APY | 3.50% Verified: 2/6/2026 ↘︎ 0.30%90d Change | 3.05% Verified: 2/6/2026 Stable (90d) |
| Product Name | High Yield Savings | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $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. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | Not Rated | A+ |
| Next Steps | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site | Visit SiteVerify at Upgrade Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Synchrony Bank | Upgrade |
|---|---|---|
| High Yield Savings | Premier Savings | |
Current APY | 3.50% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -11.6 |
Days Since Change | 10 | 97 |
12-Month High | 4.00% | 4.14% |
12-Month Low | 3.50% | 3.05% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.037 | 0.128 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Synchrony Bank's APY of 3.50% 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 Chime | 3.00% | $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 Varo Bank | 5.00% | $0 |
| Upgrade vs Wealthfront | 3.95% | $0 |
| Upgrade vs Wells Fargo | 0.05% | $25 |