Axos Bank vs. Newtek Bank
Axos Bank edges out Newtek Bank slightly at 4.21% vs 4.20% APY. On a $10,000 balance, the difference is just $1 per year—so other factors may matter more.
The Bottom Line
The Axos Bank and Newtek Bank savings accounts are very similar. Choose Axos Bank if you're an Android user, or choose Newtek Bank if you want a no-strings-attached account.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Newtek Bank offers its savings account standalone.
| Metric | Axos BankAxos ONE Apr 21, 2026 | Newtek BankPersonal High Yield Savings Apr 21, 2026 |
|---|---|---|
| APY | 4.21% | 4.20% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily 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 Axos Bank vs. Newtek Bank
Executive Summary
Axos Bank offers the Axos ONE savings and checking bundle, which provides the highest APY of 4.21%, contingent upon setting up a direct deposit of $1,500 or maintaining an average daily balance of over $5,000. For those seeking simplicity, Newtek Bank's Personal High Yield Savings account offers a competitive APY of 4.20% without any bundling or direct deposit requirements. Both banks operate online only and have no maintenance fees, with Axos Bank noted for its superior mobile app experience.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher rated Android app (4.7 vs 3.9)
- ✓Offers 2 different high-yield savings options
Why Newtek Bank?
No distinct advantages found vs Axos Bank.
— Key Feature Differences —
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
Axos BankAxos Bank offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.7 (vs. 3.9)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $1 more interest on a $10,000 balance than Newtek Bank's Personal High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
* Secure link to our partner
Non-sponsored link to official site
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Axos Bank vs. Newtek Bank Savings Calculator
You earn $1 more with Axos Bank than Newtek Bank 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.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
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 $419 per year in interest.
Both Axos Bank and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Axos Bank | Newtek Bank |
|---|---|---|
| APY | 4.21% Verified: 4/21/2026 ↘︎ 0.10%90d Change | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Axos ONE | 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. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. | - |
| Next Steps | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at Newtek Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Newtek Bank | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Personal High Yield Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 4.20% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -4.6 | -0.0 | -1.3 |
Days Since Change | 131 | 80 | 365 | 74 |
12-Month High | 4.00% | 4.66% | 0.61% | 4.35% |
12-Month Low | 3.75% | 4.21% | 0.61% | 4.20% |
Adjustments / Mo | 0.08 | 0.33 | 0.00 | 0.08 |
Volatility Score | 0.032 | 0.038 | 0.000 | 0.015 |
How to read these metrics(Click to expand)
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