Charles Schwab Bank vs. Newtek Bank
Comparing Charles Schwab Bank and Newtek Bank for savings: Charles Schwab Bank's Schwab Bank Investor Savings™ pays 0.15% 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 $405 more than Charles Schwab Bank annually ($420 vs $15).
Choose Charles Schwab Bank if you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most, or you're an Android user.
| Metric | Charles Schwab BankSchwab Bank Investor Savings™ Feb 7, 2026 | Newtek BankPersonal High Yield Savings Feb 7, 2026 |
|---|---|---|
| APY | 0.15% | 4.20% |
Est. Earnings | $5,000+$8 $10,000+$15 $25,000+$38 | $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 AppIn-Person AccessZelle® SupportedDaily CompoundingStable Rate | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Charles Schwab Bank vs. Newtek Bank
Executive Summary
Newtek Bank stands out with its Personal High Yield Savings account, offering a competitive APY of 4.20%, making it significantly more lucrative than Charles Schwab Bank's Schwab Bank Investor Savings™, which has an APY of 0.15%. Newtek Bank's product is online-only and requires a minimum deposit of $0.01, with no maintenance fees or direct deposit requirements, making it straightforward for users. In contrast, Charles Schwab's offering, while having no minimum deposit or fees, does not compare in terms of returns. Therefore, for those seeking higher yields, Newtek Bank is the clear winner.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Charles Schwab Bank?
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 0.15%) 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 $15/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $38/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $405 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Charles Schwab Bank vs. Newtek Bank Savings Calculator
You earn $405 more with Newtek Bank than Charles Schwab 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.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
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 | Charles Schwab Bank | Newtek Bank |
|---|---|---|
| APY | 0.15% Verified: 2/7/2026 Stable (90d) | 4.20% Verified: 2/7/2026 ↘︎ 0.15%90d Change |
| 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 |
| Compound Frequency | Daily | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Integrated into Investor Checking; high liquidity. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Charles Schwab 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 | Charles Schwab Bank | Newtek Bank |
|---|---|---|
| Schwab Bank Investor Savings™ | Personal High Yield Savings | |
Current APY | 0.15% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -0.8 |
Days Since Change | 365 | 1 |
12-Month High | 0.15% | 4.55% |
12-Month Low | 0.15% | 4.20% |
Adjustments / Mo | 0.00 | 0.25 |
Volatility Score | 0.000 | 0.010 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Charles Schwab Bank's APY of 0.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Charles Schwab Bank vs Ally Bank | 3.30% | $0 |
| Charles Schwab Bank vs American Express | 3.30% | $0 |
| Charles Schwab Bank vs Axos Bank | 4.21% | $0 |
| Charles Schwab Bank vs Bank of America | 0.01% | $100 |
| Charles Schwab Bank vs Barclays | 4.00% | $0 |
| Charles Schwab Bank vs Capital One | 3.30% | $0 |
| Charles Schwab Bank vs Chase Bank | 0.01% | $0 |
| Charles Schwab Bank vs Chime | 3.00% | $0 |
| Charles Schwab Bank vs CIT Bank | 3.75% | $100 |
| Charles Schwab Bank vs Citibank | 3.20% | $0 |
| Charles Schwab Bank vs Discover Bank | 3.30% | $0 |
| Charles Schwab Bank vs EverBank | 3.90% | $0 |
| Charles Schwab Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Charles Schwab Bank vs Openbank | 4.09% | $500 |
| Charles Schwab Bank vs Pibank | 4.60% | $0 |
| Charles Schwab Bank vs SoFi Bank | 4.00% | $0 |
| Charles Schwab Bank vs Synchrony Bank | 3.50% | $0 |
| Charles Schwab Bank vs Varo Bank | 5.00% | $0 |
| Charles Schwab Bank vs Wealthfront | 3.95% | $0 |
| Charles Schwab Bank vs Wells Fargo | 0.05% | $25 |