Newtek Bank: Savings Account & Rates
Mission: Banksparency aims to make Newtek Bank's savings account transparent and comparable to the market.
Savings Overview
Personal High Yield Savings
| Min. Deposit | $0.01 |
| Min. Balance | $0.01 |
| Maintenance Fee | $0 |
Prefer In-Person Banking?
This bank is online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Bank Overview
- HQ LocationMiami, Florida
- Founded2023
- AffiliationNewtekOne (NASDAQ: NEWT)
- Ratings & Trust
- Zelle® SupportNo SupportStandard ACH or Wire transfers only.
- Deposit InsuranceFDIC Insured(Cert: 18734)
Our Take on Newtek Bank
The Good
- Competitive 4.35% APY
- Low opening deposit ($0.01)
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.5, Android: 4.1)
Considerations
- No physical branch access (online only)
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.35%. This account features a low opening deposit requirement of just $0.01 and imposes no monthly maintenance fees. Additionally, customers can benefit from highly rated mobile apps, with ratings of 4.5 for iOS and 4.1 for Android. However, it is important to note that this account does not provide access to physical branches, as it operates online only. There are no promotional rates, tiered interest structures, or checking account requirements associated with this product.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Newtek Bank
| Feature | Personal High Yield Savings |
|---|---|
APY | 4.35%Verified: 1/13/2026 |
APY Trend | Very StableNo rate changes in last 90 days |
Min. Deposit | $0.01 |
Min. Balance | $0.01 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Newtek Bank
Savings Breakdown
- Interest Earned+$1,712.90(10.9%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,712.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Newtek Bank Savings Rates Over Time
Historical APY Insights
Last 12 Months| Metric | Personal High Yield Savings |
|---|---|
Latest APY | 4.35% |
Trend | Sideways |
Slope (bps/mo) | -1.2 |
Rate Changes / Mo | 0.25 |
Days Since Last Change | 277 |
High (-12m) | 4.70% |
Low (-12m) | 4.35% |
Draw-down | -7.4% |
Volatility (CV) | 0.014 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 365-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Newtek Bank
| Feature | Current View Newtek Bank | Empty Slot |
|---|---|---|
| Product | Personal High Yield Savings | - |
APY | 4.35%Verified: 1/13/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $0.01 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Newtek Bank's APY of 4.35% with other banks
Alternatives to Newtek Bank
Banks with Higher/Similar Savings APY
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Openbank
High-Yield Savings Account: 4.20% APY
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