Upgrade is offering a referral promotion where both the referrer and new customer can earn up to $500 when the new customer opens a Premier Savings account, deposits at least $15,000, and maintains the balance for 90 days, with no credit check required.
This guide will walk you through the steps to earn up to $500 by opening a Premier Savings account. The Upgrade Premier Savings bonus is an excellent opportunity for both you and your friends to significantly boost your savings. With a straightforward process that requires no credit check, it’s an accessible option for many. However, it’s essential to consider whether you can comfortably deposit and maintain the required balance for the necessary period.
Recent Updates:
- Update 2/29/24: A higher bonus tier was added, now both parties
You can also earn a $200 bonus when you open an Upgrade Rewards Checking account. You can get a bonus with one of the offers here:
- Upgrade Rewards Checking $200 Bonus With Upgrade Cash Rewards Visa®
- Upgrade Rewards Checking $200 Bonus With Upgrade Triple Cash Rewards Visa®
- Upgrade Rewards Checking $200 Bonus With Upgrade Bitcoin Rewards Visa®
Trending Checking Account Deal:
Upgrade Premier Savings Up To $500 Offer
- What you’ll get: Up To $200
- Where it’s available: Nationwide
- How to earn it:
- Use a Referral Link: Start by using a referral link to sign up.
- Open a New Premier Savings Account: Complete the quick application process to open a new Upgrade Premier Savings account. If you’re a new customer, the application should take under five minutes without the need for extra documentation or hard credit checks. If you’re an existing customer, it’s even faster since your details will be pre-filled.
- Make a Qualifying Deposit: Within 30 days of opening your account, you must make a deposit to qualify for the bonus. The amount of the deposit determines your bonus:
- Deposit $15,000+ and both you and the referrer get $50 each.
- Deposit $30,000+ and both earn $100 each.
- Deposit $50,000+ and both receive $200 each.
- Deposit $100,000+ and both receives $500 each.
- Maintain the Deposit: After making the qualifying deposit, you need to maintain the funds in the account for an additional 60 days to secure the bonus.
- Earn Interest: In addition to the referral bonus, you will earn an annual percentage yield (APY) of 5.07% on your balance, as of November 9th, 2023, provided you maintain a minimum balance of $1,000.
- Receive Your Bonus: After fulfilling all the requirements, Upgrade will credit both the referrer and the new customer with the appropriate bonus.
- When it expires: None listed
Waive The Monthly Fee
This savings account has no monthly fees.
Fine Print
- When you sign up for the Premier Savings product through Upgrade, you will open a Premier Savings account at Cross River Bank, Member FDIC under the terms of your Savings Deposit Account Agreement and agree to participate in a custodial deposit program offered by Upgrade and Cross River Bank (the “Program”).
- Under the Program, Cross River Bank may, as your agent and custodian, place some or all of your funds from your Premier Savings account with another depository institution or credit union (each a “Participating Institution”) under the terms of your Custodial and Agency Agreement.
- Each Participating Institution is either an insured depository institution at which deposits are insured by the FDIC or a credit union at which share accounts are insured by the NCUA Share Insurance Fund, subject to applicable limits.
- Your funds at Cross River Bank and at a Participating Institution are eligible for FDIC or NCUA insurance coverage up to $250,000 per ownership category and per institution.
- You will be responsible for monitoring the total amount of deposits that you hold with Cross River Bank and any Participating Institution to determine the extent of FDIC or NCUA insurance coverage available to you.
- You will be able to check your Upgrade dashboard to determine the amount of your funds on deposit at Cross River Bank and any Participating Institution under the Program.
- For more information on the Program, please refer to the Custodial and Agency Agreement.
Bottom Line
This referral offer is a cherry on top of Upgrade’s savings account cake. It’s a straightforward deposit promotion with an easy application process and a short holding period. Best of all, it comes without the need for a hard credit check.
Upgrade Premier Savings 5.21% APY
Upgrade’s Premier Savings account offers this competitive rate, which stands out significantly above the national average for savings accounts.
For more market-leading rates, see our list of Best Online Savings and Money Market Account Rates here.
Or, check out these other offers:
Trending Savings Account Deal:
More from Upgrade:
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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