Bask Bank vs. Newtek Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of Bask Bank vs. Newtek Bank
Key Metrics at a Glance
| Feature | Bask Bank | Newtek Bank |
|---|---|---|
| Top Savings APY | 4.05% Interest Savings Account | 4.35% Personal High Yield Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0.01 |
Bask Bank
Strengths
- Bask Bank's Interest Savings Account has no minimum balance requirement.
- Bask Bank has a higher App Store rating at 4.7.
- Bask Bank charges no maintenance fees.
Potential Drawbacks
- Bask Bank's current APY is 4.05%, down from 4.15% last month.
- Bask Bank has a BBB rating of B and is not accredited.
- Bask Bank has no physical branches.
Newtek Bank
Strengths
- Newtek Bank offers a higher APY at 4.35%, stable over the last month.
- Newtek Bank has a BBB rating of A+ and is accredited.
- Newtek Bank has no maintenance fees.
Potential Drawbacks
- Newtek Bank requires a minimum balance of $0.01.
- Newtek Bank has a lower App Store rating at 4.5.
- Newtek Bank has no physical branches.
→ As of October 16, 2025 Bask Bank offers an APY of 4.05% for its Interest 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 $30 more than Bask Bank on a $10,000 balance after one year. Bask Bank pays $405, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
Calculate Savings Growth for Bask Bank vs Newtek Bank
Bask Bank
Total savings breakdown:
- Interest earned: $2,467 (12.05%)
- Total contributions: $13,000 (63.52%)
- Initial deposit: $5,000 (24.43%)
Your total balance
$20,467.00
Total balance: $20,467
Earnings: $2,467
Bank OverviewNewtek Bank
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
Total balance: $20,662
Earnings: $2,662
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bask Bank's total earnings would be $195 lower than Newtek Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bask Bank's vs Newtek Bank's Savings Accounts
| Bask Bank | Newtek Bank | ||
|---|---|---|---|
| Product | Interest Savings Account | vs | Personal High Yield Savings |
| APY | 4.05% (as of 10/16/2025) | 4.35% (as of 10/16/2025) | |
| 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 | 4.7/5 | 4.5/5 | |
| Google Play Rating | 4.5/5 | 4.2/5 | |
| BBB Rating | B | A+ |
Comparative Historical APY Insights (Last 10 Months)
| Bask Bank | Newtek Bank | ||
|---|---|---|---|
| Product | Interest Savings Account | vs | Personal High Yield Savings |
| Latest APY | 4.05 % | 4.35 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.1 | -2.8 | |
| Rate Changes / Mo | 0.50 | 0.40 | |
| Days Since Last Change | 27 | 188 | |
| High (-10 m) | 4.65 % | 4.90 % | |
| Low (-10 m) | 4.05 % | 4.35 % | |
| Draw-down from High | -12.9 % | -11.2 % | |
| Volatility (CV) | 0.029 | 0.023 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 303 days.
- Low (-10 m)
- Lowest APY in the last 303 days.
- Draw-down from High
- How far today sits below the 10-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.