Axos Bank vs Newtek Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Axos Bank vs. Newtek Bank
As of September 5, 2025 Axos Bank offers an APY of 4.46% for its Axos ONE 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.
Axos Bank yields $11 more than Newtek Bank on a $10,000 balance after one year. Axos Bank pays $446, while Newtek Bank pays $435 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
Axos Bank
Strengths
- Axos Bank offers a higher APY of 4.46% compared to Newtek Bank's 4.35%.
- Axos Bank has a better App Store rating of 4.7 versus Newtek Bank's 4.5.
- Both banks have no maintenance fees, but Axos Bank offers multiple high-yield options.
Potential Drawbacks
- Axos Bank's highest APY requires direct deposit or qualifying deposits, which may limit access.
Newtek Bank
Strengths
- Newtek Bank has a straightforward high-yield savings account with no direct deposit requirement.
Potential Drawbacks
- Newtek Bank's APY of 4.35% is lower than Axos Bank's 4.46%.
Summary: Axos Bank provides a higher APY of 4.46% for its high-yield savings account, while Newtek Bank offers a slightly lower rate of 4.35%. Both banks have no maintenance fees and are BBB accredited, but Axos Bank requires direct deposit or qualifying deposits to earn its highest rate, which may restrict some users. Additionally, Axos Bank has a higher App Store rating, enhancing its appeal.
Compare Axos Bank's vs Newtek Bank's Savings Accounts
| Axos Bank | Newtek Bank | ||||
|---|---|---|---|---|---|
| Product | Axos ONE | Summit Savings | High Yield Savings | vs | Personal High Yield Savings |
| APY | 4.46% (as of 9/5/2025) | 4.00% (as of 9/5/2025) | 0.61% (as of 9/5/2025) | 4.35% (as of 9/5/2025) | |
| Bundled Account | Yes | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No. Not required, but is the easiest way to earn the highest APY. | No | No | No | |
| Note | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | ||||
| Sponsored Link | LEARN MORE at Axos Bank, Member FDIC | ||||
| App Store Rating | 4.7/5 | 4.5/5 | |||
| Google Play Rating | 4.5/5 | 4.2/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 9 Months)
| Axos Bank | Newtek Bank | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings | Summit Savings | Axos ONE | vs | Personal High Yield Savings |
| Latest APY | 0.61 % | 4.00 % | 4.46 % | 4.35 % | |
| Trend | Sideways | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -0.0 | 0.0 | -5.1 | -3.6 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.23 | 0.46 | |
| Days Since Last Change | 240 | 67 | 35 | 147 | |
| High (-9 m) | 0.61 % | 4.00 % | 4.86 % | 4.90 % | |
| Low (-9 m) | 0.61 % | 4.00 % | 4.46 % | 4.35 % | |
| Draw-down from High | 0.0 % | 0.0 % | -8.2 % | -11.2 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.029 | 0.024 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 262 days.
- Low (-9 m)
- Lowest APY in the last 262 days.
- Draw-down from High
- How far today sits below the 9-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 Axos Bank vs Newtek Bank
All calculations are based on APY.
Axos Bank
APY: 4.46%
Total savings breakdown:
- Interest earned: $2,733.9 (13.19%)
- Total contributions: $13,000 (62.70%)
- Initial deposit: $5,000 (24.12%)
Your total balance
$20,733.90
Effective APY: 4.46% (based on your deposit and contributions)
Total balance: $20,733.9
Earnings: $2,733.9
Newtek 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, Axos Bank's total earnings would be $71.9 higher 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 Axos Bank's APY of 4.46% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Axos Bank vs Ally Bank | 3.50% | $0 |
| Axos Bank vs American Express | 3.50% | $0 |
| Axos Bank vs Bank of America | 0.01% | $100 |
| Axos Bank vs Barclays | 4.10% | $0 |
| Axos Bank vs BrioDirect | 4.30% | $5,000 |
| Axos Bank vs Capital One | 3.50% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 4.00% | $100 |
| Axos Bank vs Discover Bank | 3.50% | $0 |
| Axos Bank vs Elevault | 4.60% | $0 |
| Axos Bank vs EverBank | 4.30% | $0 |
| Axos Bank vs Fitness Bank | 4.75% | $100 |
| Axos Bank vs FVCbank | 4.35% | $500 |
| Axos Bank vs GO2bank | 4.50% | $0 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs Neighbors Bank | 4.60% | $0 |
| Axos Bank vs Peak Bank | 4.35% | $100 |
| Axos Bank vs Pibank | 4.60% | $0 |
| Axos Bank vs Presidential Bank | 4.50% | $5,000 |
| Axos Bank vs Santander Bank | 0.03% | $25 |
| Axos Bank vs SoFi Bank | 3.80% | $0 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs TIMBR | 4.40% | $1,000 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
| Axos Bank vs Wells Fargo | 2.51% | $25 |
| Axos Bank vs Zynlo Bank | 4.35% | $10 |
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 American Express | 3.50% | $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 |