Openbank vs. Upgrade
Openbank's High-Yield Savings Account pays 3.80% 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? Openbank pays $75 more than Upgrade annually ($380 vs $305).
Choose Openbank if getting the best rate matters most.
| Metric | OpenbankHigh-Yield Savings Account Sep 4, 2026 | UpgradePremier Savings Sep 2, 2026 |
|---|---|---|
| APY | 3.80% | 3.05% |
Earns in a year | $5,000+$190 $10,000+$380 $25,000+$950 | $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 AppStable Rate | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 3.80%, making it the clear winner compared to Upgrade's Premier Savings account, which has an APY of 3.05%. Openbank's account requires a minimum deposit of $50,000 but has no direct deposit requirement or maintenance fees, providing a straightforward savings option. In contrast, Upgrade's account has a higher minimum balance requirement of $100,000, although it does not require a minimum deposit. Both accounts are online-only and nationally available.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Openbank?
- Higher potential APY (3.80% vs 3.05%) on all balances
Why Upgrade?
No distinct advantages found vs Openbank.
Key Feature Differences
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $380 vs $305/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $950 vs $763/yr).
Better for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 3.80% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $75 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
Openbank vs. Upgrade Savings Calculator
You earn $75 more with Openbank 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.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$380.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,380.00
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 at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $300 a year in interest.
Both Openbank and Upgrade advertise far more than that typical branch-bank rate.
| Feature | Openbank | Upgrade |
|---|---|---|
| APY | 3.80% Observed: 9/4/2026 Stable over 90 days | 3.05% Observed: 9/2/2026 Stable over 90 days |
| Product Name | High-Yield Savings Account | Premier Savings |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $0 | $1,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | Not Rated | A+ |
| Next Steps | Visit SiteVerify at Openbank Non-sponsored link to official site | Visit SiteVerify at Upgrade Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Upgrade |
|---|---|---|
| High-Yield Savings Account | Premier Savings | |
Current APY | 3.80% | 3.05% |
Trend | Stable | Stable |
Speed of change | -0.02 | -0.13 |
Days Since Change | 93 | 307 |
12-Month High | 4.20% | 4.02% |
12-Month Low | 3.80% | 3.05% |
Changes per month | 0.25 | 0.16 |
Steadiness | 0.013 | 0.088 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
Compare Similar High-Yield Accounts
Compare Openbank vs...
Comparing against Standard Savings
Compare Upgrade vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare Openbank's APY of 3.80% with other banks
Compare Upgrade's APY of 3.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Upgrade vs Ally Bank | 3.00% | $0 |
| Upgrade vs American Express | 3.00% | $0 |
| Upgrade vs Axos Bank | 4.21% | $0 |
| Upgrade vs Barclays | 3.65% | $0 |
| Upgrade vs Capital One | 3.50% | $0 |
| Upgrade vs Chime | 3.75% | $0 |
| Upgrade vs CIT Bank | 3.75% | $100 |
| Upgrade vs EverBank | 3.90% | $0 |
| Upgrade vs Marcus by Goldman Sachs | 3.40% | $0 |
| Upgrade vs Newtek Bank | 4.20% | $100 |
| Upgrade vs Pibank | 4.10% | $0 |
| Upgrade vs SoFi Bank | 4.00% | $0 |
| Upgrade vs Synchrony Bank | 3.30% | $0 |
| Upgrade vs Varo Bank | 3.75% | $0 |
| Upgrade vs Wealthfront | 3.95% | $0 |