American Express vs Newtek Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of American Express vs. Newtek Bank
As of September 5, 2025 American Express offers an APY of 3.50% for its High Yield Savings Account, with a minimum balance of $0, compared to Newtek Bank's 4.35% APY for its Personal High Yield Savings account, with a minimum balance of $0.01.
Newtek Bank yields $85 more than American Express on a $10,000 balance after one year. American Express pays $350, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
American Express
Strengths
- American Express offers a competitive APY of 3.50%.
- No maintenance fees are charged on the High Yield Savings Account.
- American Express has a high App Store rating of 4.9.
Potential Drawbacks
- American Express has an F BBB rating and is not accredited.
- No branches available for in-person banking.
- Google Play rating is lower at 3.8.
Newtek Bank
Strengths
- Newtek Bank offers a higher APY of 4.35%.
- Newtek Bank has an A+ BBB rating and is accredited.
- Google Play rating is better at 4.2.
Potential Drawbacks
- Newtek Bank has a lower App Store rating of 4.5.
- No branches available for in-person banking.
- Minimum balance of $0.01 required for the savings account.
Summary: Newtek Bank provides a higher APY of 4.35% compared to American Express's 3.50%. Additionally, Newtek has an A+ BBB rating, while American Express has an F rating and is not accredited. Both banks lack physical branches, but American Express has a superior App Store rating of 4.9 versus Newtek's 4.5. Overall, Newtek Bank offers better APY and BBB rating, while American Express excels in App Store performance.
Compare American Express' vs Newtek Bank's Savings Accounts
| American Express | Newtek Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | Personal High Yield Savings |
| APY | 3.50% (as of 9/5/2025) | 4.35% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.9/5 | 4.5/5 | |
| Google Play Rating | 3.8/5 | 4.2/5 | |
| BBB Rating | F | A+ |
Comparative Historical APY Insights (Last 7 Months)
| American Express | Newtek Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | Personal High Yield Savings |
| Latest APY | 3.50 % | 4.35 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.2 | -2.6 | |
| Rate Changes / Mo | 0.40 | 0.27 | |
| Days Since Last Change | 44 | 147 | |
| High (-7 m) | 3.80 % | 4.55 % | |
| Low (-7 m) | 3.50 % | 4.35 % | |
| Draw-down from High | -7.9 % | -4.4 % | |
| Volatility (CV) | 0.026 | 0.016 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 226 days.
- Low (-7 m)
- Lowest APY in the last 226 days.
- Draw-down from High
- How far today sits below the 7-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.
Calculate Savings Growth for American Express vs Newtek Bank
All calculations are based on APY.
American Express
APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewNewtek Bank
APY: 4.35%
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Effective APY: 4.35% (based on your deposit and contributions)
Total balance: $20,662
Earnings: $2,662
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, American Express's total earnings would be $547.9 lower than Newtek Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare American Express' APY of 3.50% with other banks
Compare Newtek Bank's APY of 4.35% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Newtek Bank vs Ally Bank | 3.50% | $0 |
| Newtek Bank vs Axos Bank | 4.46% | $0 |
| Newtek Bank vs Bank of America | 0.01% | $100 |
| Newtek Bank vs Barclays | 4.10% | $0 |
| Newtek Bank vs BrioDirect | 4.30% | $5,000 |
| Newtek Bank vs Capital One | 3.50% | $0 |
| Newtek Bank vs Chase Bank | 0.01% | $0 |
| Newtek Bank vs Chime | 3.75% | $0 |
| Newtek Bank vs CIT Bank | 4.00% | $100 |
| Newtek Bank vs Discover Bank | 3.50% | $0 |
| Newtek Bank vs Elevault | 4.60% | $0 |
| Newtek Bank vs EverBank | 4.30% | $0 |
| Newtek Bank vs Fitness Bank | 4.75% | $100 |
| Newtek Bank vs FVCbank | 4.35% | $500 |
| Newtek Bank vs GO2bank | 4.50% | $0 |
| Newtek Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Newtek Bank vs Neighbors Bank | 4.60% | $0 |
| Newtek Bank vs Peak Bank | 4.35% | $100 |
| Newtek Bank vs Pibank | 4.60% | $0 |
| Newtek Bank vs Presidential Bank | 4.50% | $5,000 |
| Newtek Bank vs Santander Bank | 0.03% | $25 |
| Newtek Bank vs SoFi Bank | 3.80% | $0 |
| Newtek Bank vs Synchrony Bank | 3.80% | $0 |
| Newtek Bank vs TIMBR | 4.40% | $1,000 |
| Newtek Bank vs UFB Direct | 4.21% | $5000 |
| Newtek Bank vs Varo Bank | 5.00% | $0 |
| Newtek Bank vs Wells Fargo | 2.51% | $25 |
| Newtek Bank vs Zynlo Bank | 4.35% | $10 |