Slickdeals is community-supported.  We may get paid by brands for deals, including promoted items.
frontpagerrampras posted Nov 03, 2022 05:40 PM
  1. Deal Image
Item 1 of 2
  1. Deal Image
  2. Deal Image
Item 1 of 2
frontpagerrampras posted Nov 03, 2022 05:40 PM

Upgrade Premier Savings Accounts:

($1,000 Minimum Deposit)

3.5% APY

352 Comments 88,417 Views
Get Deal at Retailer
Good Deal
Save
Share
Deal Details
Upgrade is offering 3.5% APY when you open a Premier Savings Account with minimum $1,000 deposit.

Thanks to Community Member rrampras for posting this deal.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Rates are subject to change.
    • No monthly account fees or transfer fees
    • Online transfers to and from other banks
      • Same-day transfers of $100,000 or less to / from other banks
    • FDIC insured up to $250,000 through Cross River Bank, Member FDIC
  • About Upgrade:
    • For more info about Upgrade, click here.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by rrampras
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Upgrade is offering 3.5% APY when you open a Premier Savings Account with minimum $1,000 deposit.

Thanks to Community Member rrampras for posting this deal.

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
    • Rates are subject to change.
    • No monthly account fees or transfer fees
    • Online transfers to and from other banks
      • Same-day transfers of $100,000 or less to / from other banks
    • FDIC insured up to $250,000 through Cross River Bank, Member FDIC
  • About Upgrade:
    • For more info about Upgrade, click here.
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by rrampras

Community Voting

Deal Score
+60
Good Deal
Get Deal at Retailer

Leave a Comment

Unregistered (You)

Top Comments

ImaPuppy
2940 Posts
3044 Reputation
Unfortunately that's not how it works. Savings account rates (and other interest-bearing products) are based on various dated bond yields as well as interest rates they charge clients for loan products (which are correlated). These don't magically change based on what the Fed does, but on what they're expected to do. The 75bps rate hike was already priced into bond yields (taking yield curve flattening aside). What wasn't priced in, and why savings rates are higher now than they were, say, a year or two ago, is precisely the divergence from expectation at that time: The Fed guidance indicated fewer hikes of less amounts (0-25bps) and have exceeded that..but that was only really known over the last few months as they consistently shift guidance, or the "target rate" via a dot plot.

The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.

To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.

Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.

Source: Work in finance
James Mason
407 Posts
63 Reputation
Just wait a little bit. The Feds raised the rate yesterday, These CD, savings, etc. rates will go up.
badger1440
408 Posts
141 Reputation
Discover just went up to 2.75% and still time to grab off up to $450 bonus

351 Comments

Sign up for a Slickdeals account to remove this ad.

Nov 03, 2022 11:20 PM
617 Posts
Joined Oct 2014
caymeraNov 03, 2022 11:20 PM
617 Posts
Just buy Treasury TBills in ladder of 4 weeks. You'll get the highest available Savings rate compared to any bank in the US.

They are like 4 week CDs that auto renews based on your term set. And State Tax exempt.
Nov 03, 2022 11:26 PM
141 Posts
Joined Apr 2013
cricnation12Nov 03, 2022 11:26 PM
141 Posts
Quote from Bunduckie :
Buy T-Bills, 4 week paying 3.7, 8 week 4%. it's better because it's taxed federally only, No state tax
Never dealt with Tbills. How do you buy it? Using brokerage account (VG or Fidelity etc)?
Nov 03, 2022 11:31 PM
63 Posts
Joined Dec 2014
d4devNov 03, 2022 11:31 PM
63 Posts
Quote from cricnation12 :
Never dealt with Tbills. How do you buy it? Using brokerage account (VG or Fidelity etc)?
Yes, most brokerages allow the purchase of t-bills and t-bonds without any fee. You can buy them from treasury direct too, but buying from brokerage gives you the option to sell them in secondary market before maturity. Hope this helps.
Nov 04, 2022 12:25 AM
5,809 Posts
Joined Aug 2004
doemaNov 04, 2022 12:25 AM
5,809 Posts
Quote from drew6666 :
Wealthfront is up to a decent 3.30%
Main site still says 2.55%?
Nov 04, 2022 12:28 AM
508 Posts
Joined Dec 2010
drew6666Nov 04, 2022 12:28 AM
508 Posts
Quote from doema :
Main site still says 2.55%?
Tomorrow it will be 3.3 came in an email was also mentioned in the app.
Nov 04, 2022 12:37 AM
2,454 Posts
Joined Jan 2019
blahbooboo2Nov 04, 2022 12:37 AM
2,454 Posts
Quote from Bunduckie :
Buy T-Bills, 4 week paying 3.7, 8 week 4%. it's better because it's taxed federally only, No state tax
There are 4 week? I've only see 13 week bills
Last edited by blahbooboo2 November 3, 2022 at 06:39 PM.
Nov 04, 2022 01:03 AM
805 Posts
Joined Nov 2010
Spurts06_juneNov 04, 2022 01:03 AM
805 Posts
Quote from warsaws :
What is a fraud issue?
SoFi's reddit has everything you need to know. Issues with SoFi's fraud department, responses to fraud inquiries and issues e.t.c. I never had an issue personally but some bad stories on there.

Sign up for a Slickdeals account to remove this ad.

Pro
Nov 04, 2022 01:08 AM
2,160 Posts
Joined Jun 2019
Fanime
Pro
Nov 04, 2022 01:08 AM
2,160 Posts
Quote from namlook :
Ally is giving 2.5% and they just had a $500 bonus on a 50K deposit promotion. Gives over 6% APY for three months,
You'd also have to deal with their 2 hour wait times when transfers somehow don't go thru.
Nov 04, 2022 01:09 AM
3,850 Posts
Joined Oct 2015
goodness97Nov 04, 2022 01:09 AM
3,850 Posts
How reliable is this bank? Is it as reliable as chase bank? Wondering because never heard of them before.
Nov 04, 2022 01:10 AM
34 Posts
Joined Nov 2020
SmilingManatee958Nov 04, 2022 01:10 AM
34 Posts
It's a Fintech which I don't know enough about so I would choose another bank with similar interest rates. I also would be nervous about dollar savings direct because they have a clause that gives them the right to require 60 days notice for a withdrawal. They say they never have done it, but hey.. .And they also don't allow externally initiated withdrawals.
Nov 04, 2022 01:15 AM
14,301 Posts
Joined May 2004
BalkiBartokomousNov 04, 2022 01:15 AM
14,301 Posts
Quote from blahbooboo2 :
How do you easily buy treasuries? The US Treasury direct web site is horribly confusing to buy them...
Their site is a an embarrassing dumpster fire. It is like it was built in 2000.
Nov 04, 2022 01:48 AM
3,850 Posts
Joined Oct 2015
goodness97Nov 04, 2022 01:48 AM
3,850 Posts
How reliable is this bank? In terms of fraud
Last edited by goodness97 November 3, 2022 at 07:51 PM.
Nov 04, 2022 01:57 AM
122 Posts
Joined Mar 2017
zablonNov 04, 2022 01:57 AM
122 Posts
Dammit, come on Marcus, you are lagging. Still at 2.5%
Nov 04, 2022 02:06 AM
2,454 Posts
Joined Jan 2019
blahbooboo2Nov 04, 2022 02:06 AM
2,454 Posts
Quote from zablon :
Dammit, come on Marcus, you are lagging. Still at 2.5%
Serves you right banking with GS Smilie

Sign up for a Slickdeals account to remove this ad.

Nov 04, 2022 02:09 AM
122 Posts
Joined Mar 2017
zablonNov 04, 2022 02:09 AM
122 Posts
Quote from TurtlePerson2 :
Current Bonds & CD Rates [fidelity.com]
3 month treasuries are above 4% now. 2 year CDs will pay 5%. There's a really narrow niche of people who are well served by choosing a savings account over a CD or a treasury right now.
What's funny is I went to the site, and then it said 'unavailable'...worked about as well as the Treasury Direct site. lol (I know it is probably just a fluke, but...)

Leave a Comment

Unregistered (You)

Related Searches

FinanceFinancial Tools & ServicesServicesFinancial Tools & ServicesSlickdeals News & ArticlesPersonal Finance

Popular Deals

See All
Found by KatManDude
Today 11:52 AM
$17$3551% offMountain Hardwear Gas Station Beanie. $17.49
0
Found by wileysmiley
Yesterday 07:02 AM
$13UA Waffle Men's Crew Long Sleeve (various colors) - $13.18 + free shipping
3
Found by neomatrixviper
Today 01:24 PM
$49$8038% offMad Max 5-Film Collection (4K Ultra HD + Digital) $49.49 Amazon.com or Gruv.com
1
Found by neomatrixviper
Yesterday 05:53 PM
$8.99Bronson Triple Threat Collection (Blu-ray Triple Feature) [Blu-ray] $8.99 Free Shipping Gruv.com
0
Found by r3p3ro
Today 05:08 PM
$98$29066% offDEWALT 192 Pcs. Mechanics Tool Set, 1/2, 1/4, 3/8 Socket Set, SAE and Metric Socket Wrench Set, for $98
7

Trending Deals

See All
Found by SiennaChicken1861
Yesterday 07:06 PM
$22$3638% offAstroglide Water Based Lube (5oz) (Pack of 3) $22.05 + Free Shipping w/ Prime
30
Found by phoinix
Today 04:55 PM
$10$2560% off$10: Smith & Wesson Special Tactical CKTAC 8.1in High Carbon S.S. Folding Knife at Amazon
6
Found by resuds
Today 03:41 PM
$98$25060% offDewalt Chrome Vanadium Mechanics Tool Set (192-Piece) $98
5
Found by Dmytro_B
Today 03:47 PM
$32$6046% offLEGO Classic Large Creative Brick Box 10698 Building Set $31.99 +FS w/Prime
1
Found by PEMP
Today 08:56 AM
$70$12644% offRIDGID 4.5 Gal. 5.0 Peak HP PRO PACK Shop Vacuum Wet Dry Vac with Fine Dust Filter, Expandable Hose and Accessories WD4522 $69.97
6