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Yahoo
25-06-2025
- Business
- Yahoo
Upgrade review (2025): A leading fintech that offers high yields and few fees
Summary: Upgrade is a financial technology company offering various financial products, including personal loans, checking and savings accounts, and debit cards. It partners with Cross River Bank to offer FDIC- or NCUA-insured checking and savings accounts. Both account types are eligible to earn interest, with yields near the high end of what is offers several banking products that emphasize high yields, low rates, and an entirely online banking experience. While you can't visit a branch or deposit cash, those who prioritize convenience and getting the most out of their money may appreciate what Upgrade has to offer. Upgrade's Rewards Checking Plus account is packed with benefits and perks. These include up to 2% cash back on purchases from convenience stores, drugstores, gas stations, restaurants, and subscriptions. You can also earn a high yield on account balances and cash back on debit card purchases. There are no monthly or overdraft fees, and you can get paid up to two days early with direct deposit. There is one major caveat to these benefits: You must receive at least $1,000 in monthly direct deposits into the account to be eligible. If you don't meet this requirement, you'll miss out on benefits like 2% cash back. If you want to open a joint checking account, it's possible to do that with the Rewards Checking Account during the application process. The Premier Savings account is a high-yield savings account that pays a highly competitive interest rate on balances of $1,000 or more. There are no monthly maintenance fees, and the account is FDIC-insured up to $1 million through participating institutions. You can fund the Premier Savings account with an ACH or wire transfer in U.S. dollars. If your employer offers direct deposit, you can also fund your account through this method. Similar to the checking account, you can choose to open a joint savings account during the application process. Upgrade offers fixed-rate, unsecured installment loans ranging from $1,000 to $50,000 with terms of 24 to 84 months. Personal loan APRs range from 7.99% to 35.99%, and origination fees range from 1.85% to 9.99%. Funds are typically available within one business day after approval. Upgrade offers several credit cards, including multiple rewards cards. A credit monitoring and insights dashboard is built into the Upgrade mobile app, allowing you to track your credit score, analyze spending habits, and stay informed and proactive about your credit health. Many of Upgrade's basic account features are fee-free. However, fees may apply in certain cases. Here's a look at the fees Upgrade charges banking customers. Consider these pros and cons before becoming an Upgrade customer: Pros High yields on bank accounts: The Rewards Checking Plus account offers 0.42% APY, and the Premier Savings account offers 4.02% APY. Both rates are well above industry averages. No monthly fees: The checking and savings accounts don't have monthly fees, regardless of your account balance. Checking account earns cash back: Upgrade's checking account is a rewards checking account and is eligible to earn cash back when certain requirements are met. Cons No branch locations: Since Upgrade is an online-only financial institution, you must do all your banking online. This may be a drawback for those who prefer in-person assistance. No cash deposits: Mobile check deposit is available, but there is no option to deposit cash. Read more: How to deposit cash at an online bank While no in-person support is available, there are various ways to contact Upgrade. As with many online banks today, the first option is an online chat, which is available 24/7. You can also send an email to support@ Phone support is available Monday through Friday from 5 a.m. to 7 p.m. PT. On Saturday and Sunday, support is available from 6 a.m. to 5 p.m. PT. The contact number is 844-319-3909. The Upgrade app generally receives high ratings. The Android app is rated 4.5 out of 5 stars, while the Apple app is rated 4.9 out of 5 stars. The app offers several helpful features, including the ability to manage your checking and savings accounts in one place, set up autopay, and receive alerts. You can also monitor your credit score and make payments from the app. For general correspondence, you can send mail to the following address: 275 Battery Street, 23rd Floor San Francisco, CA 94111 Phone support is available by calling 844-319-3909. Upgrade is not a bank itself and does not carry FDIC insurance directly. Instead, it partners with FDIC‑insured banks — particularly Cross River Bank — to offer FDIC-insured bank accounts. You can find your routing number by logging in to your account and clicking 'Show Details' under your account balance. For Cross River Bank, the routing number is 021214891. Yes, Upgrade is a legitimate financial technology company based in San Francisco, California. Upgrade is not a bank. However, it works with partner banks, such as Cross River Bank and Blue Ridge Bank, to offer deposit services. Upgrade was founded in 2017 and has extended billions of dollars of credit to its customers since its founding.
CNET
05-05-2025
- Business
- CNET
Best CD Rates - Week of May 5 - May 9, 2025
Top CDs offer up to 4.50% APY – more than three times the national average for some terms. Sarah Tew/CNET If the economic headlines have you stressed, a certificate of deposit can provide some much-needed peace of mind. "CDs offer yield and fixed income, which can be a welcome source of stability in such a volatile political and economic environment," said Noah Damsky, CFA, Principal of Marina Wealth Advisors. "If you're looking to earn a stable income, sleep well at night and avoid the gyrations of the stock market, then CDs can be a great option." But if you want to maximize your returns, you may want to act now. Today's top CDs still earn annual percentage yields (APYs) up to 4.50%, but rates have been slipping despite the Federal Reserve's latest rate pauses. With a recession looming, APYs are likely to keep falling even if the Fed pauses rates again this week as expected. So the sooner you lock in your APY, the greater your earnings could be. Best CD rates this week Term Highest APY* Bank Estimated earnings on $1,000 deposit Estimated earnings on $5,000 deposit Estimated earnings on $10,000 deposit 6 months 4.50% CommunityWide Federal Credit Union $22.25 $111.26 $222.52 1 year 4.40% CommunityWide Federal Credit Union $44.00 $220.00 $440.00 3 years 4.15% America First Credit Union $129.74 $648.69 $1,297.38 5 years 4.20% America First Credit Union $228.40 $1,141.98 $2,283.97 Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get CNET's partners' best rate for your area. Top reasons to open a CD today CDs offer many benefits, including: 😌 Low risk CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they're also volatile, which means you could lose money at any time. 📈 Guaranteed returns Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account. 💰 Competitive rates Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today's top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation. ✋ Barrier to access Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them. A high-yield savings account might be a better fit if… CDs have plenty of perks, but they're not always the right fit for your needs. A high-yield savings account might be a better choice if: 🏧 You want ready access to your funds You'll pay a penalty if you take money out of a CD before it matures. You can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). This makes HYSAs a great fit for an emergency fund. 🫰 You don't have a ton of money to deposit Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit. 💵 You want to add funds over time Most CDs only allow a one-time deposit. If you'd like to continue adding money to your savings after you've opened the account, consider a high-yield savings account. 💰You can earn up to 5% APY on today's best high-yield savings accounts. Check out top savings rates now. Methodology CNET reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from more than 50 banks, credit unions and financial companies. We evaluate CDs based on APYs, product offerings, accessibility and customer service. The current banks included in CNET's weekly CD averages include Alliant Credit Union, Ally Bank, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony. *APYs as of May 2, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
Yahoo
28-04-2025
- Business
- Yahoo
Best CD Rates This Week: Don't Miss Out on APYs as High as 4.50%
A certificate of deposit can be a smart way to protect your money from the ups and downs of the market. Your rate is fixed when you open a CD so your returns will stay the same regardless of what happens in the economy. At a time when tariffs, inflation and recession worries fill the news, this peace of mind can be especially valuable. Today's top CDs offer annual percentage yields as high as 4.40% -- more than three times the national average for some terms. But we've seen rates tipping downward in recent weeks so if you're thinking of opening a CD, doing it sooner rather than later could be a wise move. Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get CNET's partners' best rate for your area. CDs offer many benefits, including: Low risk: CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they're also volatile, which means you could lose money at any time. Guaranteed returns: Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account. Competitive rates: Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today's top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation. Barrier to access: Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them. CDs have plenty of perks, but they're not always the right fit for your needs. "Right now, both a CD and a high-yield savings account are good options but you must remember a CD has a fixed term, whereas an HYSA offers more flexibility to access your money," said Krisstin Petersmarck, a financial advisor at New Horizon Retirement Solutions. "The tradeoff is CDs offer a higher interest rate for your money to be locked in versus HYSAs that offer a lower interest rate." To determine if a CD is the right choice for your money, ask yourself the following questions: When will you need your funds? You'll pay a penalty if you take money out of a CD before it matures. In contrast, you can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). How much do you have to deposit? Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit. Do you want to add money over time? Most CDs (though not all) only allow a one-time deposit. If you'd like to regularly add money to your savings over time, consider a high-yield savings account. Do you need some discipline? If you're worried you'll be tempted to tap into your savings before you need it, a CD imposes an early withdrawal penalty, which can help give you reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from more than 50 banks, credit unions and financial companies. We evaluate CDs based on APYs, product offerings, accessibility and customer service. The current banks included in CNET's weekly CD averages include Alliant Credit Union, Ally Bank, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony. *APYs as of April 28, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. Sign in to access your portfolio
Yahoo
21-04-2025
- Business
- Yahoo
The Best and Worst Places To Keep Cash, Coins, Crypto and More
No, really. Where is the best place to store your money? According to a survey conducted by Piere, an AI-powered financial management app, found that the average American stashes $544 in cash or valuables at home. Wanting to keep your money safe is fine. But hoarding it in the wrong places could do more harm than good. Think about the story back in 2009 where CNBC reported that a woman didn't realize her mother stashed $1 million in cash in an old mattress that she threw away. Check Out: Trending Now: Even if your mattress (or an equivalent item) is still in your home, there are huge risks with storing cash or its equivalent in your home. For one, your insurance policy may not provide coverage for cash or even crypto. Even if it does cover valuables, there may be policy limits. Don't forget the opportunity costs for cash. You're not going to earn any interest and even worse, the cash loses value due to inflation. So where are the best and worst places to store your cash, valuables or crypto? Even if you're convinced that a mattress isn't the best place to store your cash, a vase, freezer or some other secret compartment probably won't do. Your best bet is to store it at a bank or credit union. Most of these financial institutions are FDIC- or NCUA-insured. In case the bank or credit union goes belly up, your money is safe up to the insured amount. A high-yield savings account offers a higher rate for your cash, and so do money market accounts. Be sure to check if there are any minimum deposit amounts and if there are any fees you may need to pay. If you want to park your cash for longer and want to guarantee some sort of a return, a certificate of deposit (CD) could be a good choice. Many banks and credit unions offer slightly higher interest rates depending on the term you agree to. You will need to keep the cash for the agreed upon term or you could pay a penalty. Explore More: Storing your coins or other valuables at home may be safe, but be sure you document these items. That way, if in the event you need to file a claim, you have documentation to show to your insurance company. Consider storing these valuables in a fireproof safe. Otherwise, you could pay for a safe deposit box at your local bank. Yes, it'll cost you, but it could be worth it knowing your valuables are probably safer than at your home. Some precious metal dealers may also have their own storage facilities boasting climate controlled rooms and all the latest security features. You can consider this if you have a large amount of gold or other precious metals. Don't risk forgetting your wallet password or having it stolen by writing it down on a piece of paper, storing your information on the cloud, or committing it to memory. Instead, consider using a reputable crypto exchange or devices made to store crypto. For example, a cold wallet isn't connected to the internet, which could be safer for lager amounts of crypto. A hot wallet can make transactions easier, but it's connected to the internet which could be more susceptible for hackers. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 4 Affordable Car Brands You Won't Regret Buying in 2025 4 Things You Should Do if You Want To Retire Early 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on The Best and Worst Places To Keep Cash, Coins, Crypto and More
Yahoo
11-03-2025
- Business
- Yahoo
Now's the Time to Lock In a High APY. Today's CD Rates, March 11, 2025
Today's top CDs boast APYs up to 4.65%. The national average rate is less than a third of that for some CD terms. Locking in a high APY now protects your earnings from rate drops. CD rates have held relatively steady since the Federal Reserve's January rate cut, but banks are still tweaking their annual percentage yields as they await the Fed's next meeting on March 18-19. Notably, the top five-year CD on our list -- American First Credit Union's -- saw its APY drop to 4.20% after being at 4.25% since November. It's a reminder that rates can change anytime, so opening a CD while they remain high is a smart move. "If you're waiting for higher CD rates before you invest, you might not get it," said Noah Damsky, CFA, Principal of Marina Wealth Advisors. "If I were in the market for a CD now, I'd invest right now because rates might be lower tomorrow." You can earn up to 4.65% APY with today's best CDs -- more than three times the national average for some terms. Here are some of the highest CD rates available now and how much you could earn by depositing different amounts. Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get CNET's partners' best rate for your area. CDs offer a number of benefits, including: Competitive rates: Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Tops CDs currently have APYs of 4.50% or more. That can make a difference in your interest earnings. Guaranteed returns: Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account. Low risk: CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they're also volatile, which means you could lose your money at any time. Barrier to access: You can withdraw money in a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). Many CDs, however, charge an early withdrawal penalty if you take your money out before the term is up. This can help you resist the urge to dip into your funds before you need them. CDs have plenty of perks, but they're not always the best option. "It really depends on your goals," said Taylor Kovar, certified financial planner and CEO of 11 Financial. To determine if a CD is the right choice for your money, ask yourself the following questions: When will you need your funds? CDs are great for savings goals with a set timeline, and they come in a range of terms, from as short as three months to several years. If you know you want to buy a home down the road, for example, a five-year CD can be a great way to grow your down payment. If you need instant access to your money with an emergency fund, however, a savings account is a better fit. How much do you have to deposit? Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit. Do you want to add money over time? Most CDs (though not all) only allow a one-time deposit. If you'd like to regularly add money to your savings over time, consider a high-yield savings account. Do you need some discipline? If you're worried you'll be tempted to tap into your savings before you need it, a CD imposes an early withdrawal penalty, which can help give you reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from more than 50 banks, credit unions and financial companies. We evaluate CDs based on APYs, product offerings, accessibility and customer service. The current banks included in CNET's weekly CD averages include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Marcus by Goldman Sachs, MYSB Direct, Quontic, Rising Bank, Synchrony, EverBank, Popular Bank, First Internet Bank of Indiana, America First Federal Credit Union, CommunityWide Federal Credit Union, Discover, Bethpage, BMO Alto, Limelight Bank, First National Bank of America and Connexus Credit Union. *APYs as of March 10, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. Sign in to access your portfolio
