Newtek Bank: Savings Accounts & Rates
Savings rates updated: 9/5/2025
Mission statement: Banksparency aims to make Newtek Bank's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.
Note: Interest rates below are reported as APY, or Annual Percentage YieldWe earn a commission if you open an account through some links on this page.
Savings Overview
Personal High Yield Savings: 4.35% APY(Rank 12 of the 20 Best Savings Rates)
National Savings Interest Rate: 0.39% (as of 8/26/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Miami, Florida
Founded: 2023
Affiliation: NewtekOne (NASDAQ: NEWT)
Access to Branches: None
BBB Rating: A+ (BBB Accredited)
App Store Rating: 4.5/5
Google Play Rating: 4.2/5
Website: Visit Newtek Bank
Our Take on Newtek Bank
Highlights
- Offers a competitive APY of 4.35%
- No minimum deposit or balance requirements
- No maintenance fees associated with the account
- High ratings: A+ BBB rating and 4.5 App Store rating
Considerations
- Online-only bank with no physical branches
- Direct deposit not required, but may limit options for some users
Savings Account: In-Depth View
Savings Account Offered by Newtek Bank
| Feature | Personal High Yield Savings |
|---|---|
| APY | 4.35% (as of 9/5/2025) |
| APY Trend | Stable for the last quarter |
| Minimum Deposit | $0 |
| Minimum Balance for APY | $0.01 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $0 |
| Eligibility | United States |
| Sponsored Link | |
Deposit Agreement Summary for Newtek Bank | |
Calculate Savings for Newtek Bank
Total savings breakdown:
- Interest earned: $1,712.9 (10.90%)
- Total contributions: $13,000 (82.73%)
- Initial deposit: $1,000 (6.36%)
Your total 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
| Metric | Personal High Yield Savings |
|---|---|
| Latest APY | 4.35 % |
| Trend | Sideways |
| Slope (bps/mo) | -4.1 |
| Rate Changes / Mo | 0.41 |
| Days Since Last Change | 147 |
| High (-12 m) | 5.25 % |
| Low (-12 m) | 4.35 % |
| Draw-down from High | -17.1 % |
| Volatility (CV) | 0.029 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 12 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-12 m)
- Highest APY in the last 365 days.
- Low (-12 m)
- Lowest APY in the last 365 days.
- Draw-down from High
- How far today sits below the 12-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Newtek Bank's Savings Account
- Affirm - 3.85% APY
- All America Bank - 1.50-3.25% APY
- Ally Bank - 3.50% APY
- Amalgamated Bank - 2.25% APY
- American Express - 3.50% APY
- Ameriprise Bank - 3.15-3.15% APY
- Axos Bank - 4.46% APY
- Bank5 Connect - 4.05% APY
- Bank of America - 0.01% APY
- Barclays - 3.90-4.10% APY
- Bask Bank - 4.15% APY
- Betterment - 4.00% APY
- BMO Alto - 3.50% APY
- Bread Savings - 4.25% APY
- BrioDirect - 4.30% APY
- Capital One - 3.50% APY
- Carver Bank - 4.00% APY
- Charles Schwab Bank - 0.15% APY
- Chase Bank - 0.01% APY
- Chime - 1.25-3.75% APY
- CIBC Bank USA - 4.02% APY
- CIT Bank - 0.25-4.00% APY
- Citibank - 3.50% APY
- Citizens Access™ - 3.50% APY
- Colorado Federal Savings Bank - 4.15% APY
- ConnectOne Bank - 3.75% APY
- Customers Bank - 4.23% APY
- Discover Bank - 3.50% APY
- Elevault - 4.60% APY
- E*TRADE from Morgan Stanley - 4.00% APY
- EverBank - 4.30% APY
- Evergreen Bank Group - 4.25% APY
- First Foundation Bank - 4.25% APY
- Fitness Bank - 4.75% APY
- Flagstar Bank - 4.00% APY
- FNBO Direct - 3.25% APY
- Forbright Bank - 4.25% APY
- FVCbank - 4.35% APY
- GO2bank - 4.50% APY
- High Plains Bank - 0.23-3.82% APY
- Jenius Bank - 4.20% APY
- LendingClub - 3.20-4.20% APY
- Live Oak Bank - 4.00% APY
- Marcus by Goldman Sachs - 3.65% APY
- My Banking Direct - 4.30% APY
- MySavingsDirect - 3.75% APY
- Neighbors Bank - 4.60% APY
- OMB Bank - 1.00% APY
- Openbank - 4.20% APY
- Peak Bank - 4.35% APY
- Pibank - 4.60% APY
- PNC - 3.95% APY
- Poppy Bank - 4.25% APY
- Popular Direct - 4.10% APY
- Presidential Bank - 4.00-4.50% APY
- Prime Alliance Bank - 4.05% APY
- Primis Bank - 4.20% APY
- Quontic Bank - 3.75% APY
- RBMAX - 4.15% APY
- Rising Bank - 4.30% APY
- ROGER - 4.12% APY
- Salem Five Direct - 4.01% APY
- Sallie Mae Bank - 3.90% APY
- Santander Bank - 0.03% APY
- SoFi Bank - 3.80% APY
- Synchrony Bank - 3.80% APY
- TAB Bank - 4.15% APY
- TD Bank - 0.05-3.00% APY
- The State Exchange Bank - 4.21% APY
- TIMBR - 4.40% APY
- UFB Direct - 4.01-4.21% APY
- Upgrade - 4.02% APY
- Valley Direct - 4.30% APY
- Varo Bank - 2.50-5.00% APY
- Wells Fargo - 0.05-2.51% APY
- Western Alliance Bank - 4.25% APY
- Zynlo Bank - 4.35% APY
| Feature | Newtek Bank | Select a bank... |
|---|---|---|
| Product | Personal High Yield Savings | N/A |
| APY | 4.35% (as of 9/5/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $0 | N/A |
| Minimum Balance for APY | $0.01 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |
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
For a top list of the highest savings rates, see all HYSA top rates
Presidential Bank
Advantage Savings: 4.50% APY
Bundled Savings & Checking Account
Minimum Deposit: $5,000
Direct Deposit: To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.
Forbright Bank
Growth Savings: 4.25% APY
Minimum Deposit: $0
Online Only
Bright Savings: 3.90% APY
Minimum Deposit: $250
Eligible States: Limited (see details)
Sprout Savings: 3.90% APY
Minimum Deposit: $1
Eligible States: Limited (see details)
Varo Bank
High-Yield Savings Account: 5.00% APY
Minimum Deposit: $0
Online Only
Direct Deposit: Min. $1,000/month
Peak Bank
Envision High Yield Savings: 4.35% APY
Minimum Deposit: $100
Online Only
BrioDirect
High-Yield Savings Account: 4.30% APY
Minimum Deposit: $5,000
Online Only
Evergreen Bank Group
High-Yield Online Savings: 4.25% APY (Inactive)
Minimum Deposit: $100
Online Only
TIMBR
Premium Savings Account: 4.40% APY
Minimum Deposit: $1,000
Online Only
Fitness Bank
Fitness Savings Account: 4.45% APY
Minimum Deposit: $100
Online Only
Fitness Elite Checking & Fitness Savings Combo: 4.75% APY
Bundled Savings & Checking Account
Minimum Deposit: $100
Online Only
FVCbank
Advantage Direct Savings: 4.35% APY
Minimum Deposit: $500
Online Only
Valley Direct
High-Yield Savings Account: 4.30% APY
Minimum Deposit: $1000
Online Only
Eligible States: Limited (see details)
First Foundation Bank
Online Savings: 4.25% APY
Minimum Deposit: $1,000
Online Only
Elevault
High Yield Savings Account: 4.60% APY
Minimum Deposit: $0
Online Only