Bask Bank vs. Newtek Bank
Comparing Bask Bank and Newtek Bank for savings: Bask Bank's Interest Savings Account pays 0.25% 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 $395 more than Bask Bank annually ($420 vs $25).
Choose Bask Bank if you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most, or BBB rating matters to you.
| Metric | Bask BankInterest Savings Account Apr 21, 2026 | Newtek BankPersonal High Yield Savings Apr 21, 2026 |
|---|---|---|
| APY | 0.25% | 4.20% |
Est. Earnings | $5,000+$13 $10,000+$25 $25,000+$63 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily 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 Bask Bank vs. Newtek Bank
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with an impressive APY of 4.20%, making it the clear winner in this comparison. This account requires a minimum deposit of just $0.01 and has no maintenance fees, providing excellent returns even on smaller deposits. In contrast, Bask Bank's Interest Savings Account offers a significantly lower APY of 0.25%. While Bask Bank is noted for its superior mobile app experience, it does not match the high yield provided by Newtek Bank. Both banks operate online only and do not require direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bask Bank?
- ✓Higher rated Android app (4.6 vs 3.9)
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 0.25%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $25/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $63/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
Bask BankBask Bank offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.6 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $395 more interest on a $10,000 balance than Bask Bank's Interest Savings 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
Bask Bank vs. Newtek Bank Savings Calculator
You earn $395 more with Newtek Bank than Bask 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.
Bask Bank
Interest Savings Account
Savings Breakdown
- Interest Earned+$25.00(0.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,025.00
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.
| Feature | Bask Bank | Newtek Bank |
|---|---|---|
| APY | 0.25% Verified: 4/21/2026 ↘︎ 3.50%90d Change | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Interest Savings 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 | Available Available for Interest Checking; not for standalone savings. | Not Supported |
| BBB Rating | B | A+ |
| Next Steps | Visit SiteVerify at Bask Bank 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 | Bask Bank | Newtek Bank |
|---|---|---|
| Interest Savings Account | Personal High Yield Savings | |
Current APY | 0.25% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -36.0 | -1.3 |
Days Since Change | 77 | 74 |
12-Month High | 4.20% | 4.35% |
12-Month Low | 0.25% | 4.20% |
Adjustments / Mo | 0.41 | 0.08 |
Volatility Score | 0.533 | 0.015 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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Compare Bask Bank's APY of 0.25% with other banks
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