Betterment vs. Newtek Bank
Comparing Betterment and Newtek Bank for high-yield savings: Betterment's Cash Reserve pays 3.90% 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 $30 more than Betterment annually ($420 vs $390).
Choose Betterment if you're an Android user, or choose Newtek Bank if getting the best rate matters most.
| Metric | BettermentCash Reserve Mar 24, 2026 | Newtek BankPersonal High Yield Savings Mar 24, 2026 |
|---|---|---|
| APY | 3.25% - 3.90% | 4.20% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $10 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppRate 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 Betterment vs. Newtek Bank
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an APY of 4.20%, making it the winner in this comparison. This account requires a minimum deposit and balance of just $0.01, with no maintenance fees or direct deposit requirements, making it a straightforward option for savers. In contrast, Betterment's Cash Reserve provides a promo APY of 3.90% for new customers, while existing customers receive a lower rate of 3.25%. Betterment also boasts a strong mobile app experience, but its offering is less attractive in terms of yield compared to Newtek Bank.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Betterment?
- ✓Higher rated Android app (4.7 vs 4.0)
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.90%) on all balances
- ✓No checking account or direct deposit required
- ✓Available to New & Existing Customers
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $390/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $975/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
BettermentBetterment offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.7 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $30 more interest on a $10,000 balance than Betterment's Cash Reserve.
*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
Betterment vs. Newtek Bank Savings Calculator
You earn $30 more with Newtek Bank than Betterment 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.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 $389 per year in interest.
Both Betterment and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Betterment | Newtek Bank |
|---|---|---|
| APY | 3.90% Range: 3.25% - 3.90% Verified: 3/24/2026 ↗︎ 0.65%90d Change | 4.20% Verified: 3/24/2026 ↘︎ 0.15%90d Change |
| Product Name | Cash Reserve | Personal High Yield Savings |
| Minimum Deposit | $10 | $0.01 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | 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 | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | A+ |
| Important Notes | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Next Steps | Visit SiteVerify at Betterment 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 | Betterment | Newtek Bank |
|---|---|---|
| Cash Reserve | Personal High Yield Savings | |
Current APY | 3.90% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.8 | -1.1 |
Days Since Change | 32 | 46 |
12-Month High | 4.00% | 4.45% |
12-Month Low | 3.25% | 4.20% |
Adjustments / Mo | 0.33 | 0.16 |
Volatility Score | 0.083 | 0.014 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Betterment's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Betterment vs Ally Bank | 3.20% | $0 |
| Betterment vs American Express | 3.20% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.85% | $0 |
| Betterment vs Capital One | 3.20% | $0 |
| Betterment vs Chime | 3.00% | $0 |
| Betterment vs CIT Bank | 3.75% | $100 |
| Betterment vs Discover Bank | 3.30% | $0 |
| Betterment vs EverBank | 3.90% | $0 |
| Betterment vs Marcus by Goldman Sachs | 3.65% | $0 |
| Betterment vs Openbank | 4.09% | $500 |
| Betterment vs Pibank | 4.60% | $0 |
| Betterment vs SoFi Bank | 4.00% | $0 |
| Betterment vs Synchrony Bank | 3.50% | $0 |
| Betterment vs Varo Bank | 5.00% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |