Charles Schwab Bank vs. Newtek Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Newtek Bank
Personal High Yield Savings
4.35%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Newtek Bank
Personal High Yield Savings
Charles Schwab Bank vs. Newtek Bank Savings Calculator
Newtek Bank earns $2,575.9 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$2,662.00(12.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,662.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. Newtek Bank
Why Charles Schwab Bank?
No distinct advantages found vs Newtek Bank.
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.2 vs 2.9)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $15/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $38/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $420 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Newtek Bank offers a significantly higher APY of 4.35% on its Personal High Yield Savings account, making it the clear winner compared to Charles Schwab Bank's Schwab Bank Investor Savings™, which has an APY of only 0.15%. Newtek's account is online-only and requires a minimum deposit of $0.01, while Schwab's account has no minimum deposit requirement. Both accounts have no maintenance fees and allow for daily compounding. Newtek Bank's product is noted for its simplicity, with no direct deposit requirement or caps, making it an attractive option for savers.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Charles Schwab Bank and Newtek Bank.
| Feature | Charles Schwab Bank | Newtek Bank |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 4.35% Verified: 12/10/2025 Stable (90d) |
| Product Name | Schwab Bank Investor Savings™ | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS4.5 Android4.2 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Newtek Bank |
|---|---|---|
| Schwab Bank Investor Savings™ | Personal High Yield Savings | |
Current APY | 0.15% | 4.35% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -1.2 |
Days Since Change | 314 | 243 |
10-Month High | 0.15% | 4.55% |
10-Month Low | 0.15% | 4.35% |
Adjustments / Mo | 0.00 | 0.19 |
Volatility Score | 0.000 | 0.012 |
How to read these metrics(Click to expand)
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