Affirm vs. Newtek Bank
Comparing Affirm and Newtek Bank for high-yield savings: Affirm's Affirm Money Account pays 3.20% APY while Newtek Bank's Personal High Yield Savings pays 4.20% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Newtek Bank pays $100 more than Affirm annually ($420 vs $320).
Choose Affirm if you're an Android user, or choose Newtek Bank if getting the best rate matters most.
| Metric | AffirmAffirm Money Account Feb 6, 2026 | Newtek BankPersonal High Yield Savings Feb 6, 2026 |
|---|---|---|
| APY | 3.20% | 4.20% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Affirm vs. Newtek Bank
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.35%, making it the clear winner in this comparison. This account requires a minimal deposit of just $0.01 and has no maintenance fees, providing better returns compared to Affirm's Money Account, which offers a lower APY of 3.20%. Both accounts are online-only and do not require direct deposit. Affirm's Money Account is noted for its excellent mobile app experience, but Newtek Bank is highlighted for its simplicity and superior returns, especially for higher balances.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Affirm?
- ✓Higher rated iOS app (4.9 vs 4.5)
- ✓Higher rated Android app (4.8 vs 4.0)
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.20%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $320/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $800/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
AffirmAffirm offers an iOS app rated 4.9 (vs. 4.5) and Android app rated 4.8 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $100 more interest on a $10,000 balance than Affirm's Affirm Money Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Affirm vs. Newtek Bank Savings Calculator
You earn $100 more with Newtek Bank than Affirm on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $319 per year in interest.
Both Affirm and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Affirm | Newtek Bank |
|---|---|---|
| APY | 3.20% Verified: 2/6/2026 ↘︎ 0.40%90d Change | 4.20% Verified: 2/6/2026 ↘︎ 0.15%90d Change |
| Product Name | Affirm Money Account | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Next Steps | Visit SiteVerify at Affirm Non-sponsored link to official site | Visit SiteVerify at Newtek Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | Newtek Bank |
|---|---|---|
| Affirm Money Account | Personal High Yield Savings | |
Current APY | 3.20% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -0.8 |
Days Since Change | 31 | 0 |
12-Month High | 3.85% | 4.55% |
12-Month Low | 3.20% | 4.20% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.057 | 0.010 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Affirm's APY of 3.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Affirm vs Ally Bank | 3.30% | $0 |
| Affirm vs American Express | 3.30% | $0 |
| Affirm vs Axos Bank | 4.21% | $0 |
| Affirm vs Bank of America | 0.01% | $100 |
| Affirm vs Barclays | 4.00% | $0 |
| Affirm vs Capital One | 3.30% | $0 |
| Affirm vs Chase Bank | 0.01% | $0 |
| Affirm vs Chime | 3.00% | $0 |
| Affirm vs CIT Bank | 3.75% | $100 |
| Affirm vs Citibank | 3.20% | $0 |
| Affirm vs Discover Bank | 3.30% | $0 |
| Affirm vs EverBank | 3.90% | $0 |
| Affirm vs Marcus by Goldman Sachs | 3.65% | $0 |
| Affirm vs Openbank | 4.09% | $500 |
| Affirm vs Pibank | 4.60% | $0 |
| Affirm vs SoFi Bank | 4.00% | $0 |
| Affirm vs Synchrony Bank | 3.50% | $0 |
| Affirm vs Varo Bank | 5.00% | $0 |
| Affirm vs Wealthfront | 3.95% | $0 |
| Affirm vs Wells Fargo | 0.05% | $25 |