Chase Bank vs. Newtek Bank
Comparing Chase Bank and Newtek Bank for savings: Chase Bank's Chase Savings℠ pays 0.01% 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 $419 more than Chase Bank annually ($420 vs $1).
Choose Chase Bank if you value in-person banking, you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | Chase BankChase Savings℠ Apr 21, 2026 | Newtek BankPersonal High Yield Savings Apr 21, 2026 |
|---|---|---|
| APY | 0.01% | 4.20% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Chase Bank vs. Newtek Bank
Executive Summary
Newtek Bank offers a clear advantage with its Personal High Yield Savings account, providing a competitive APY of 4.20%, significantly higher than Chase Bank's Chase Savings℠, which yields only 0.01%. Newtek's account has no maintenance fees and requires a minimal initial deposit of $0.01, making it accessible and straightforward, particularly for those seeking better returns without complex conditions. In contrast, Chase Bank's savings account may incur a $5 maintenance fee unless certain conditions are met. Additionally, Newtek Bank operates online-only, while Chase Bank offers both online and in-branch services.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- ✓Physical branch access (Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii.)
- ✓Higher rated iOS app (4.8 vs 4.5)
- ✓Higher rated Android app (4.8 vs 3.9)
- ✓Fast transfers via Zelle® (up to $2,000 a day)
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 0.01%) 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 $1/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $3/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
Chase BankChase Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.8 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $419 more interest on a $10,000 balance than Chase Bank's Chase 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
Chase Bank vs. Newtek Bank Savings Calculator
You earn $419 more with Newtek Bank than Chase 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.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
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 | Chase Bank | Newtek Bank |
|---|---|---|
| APY | 0.01% Verified: 4/21/2026 Stable (90d) | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Chase Savings℠ | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii. | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Not Supported |
| BBB Rating | A- | A+ |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | - |
| Next Steps | Visit SiteVerify at Chase 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 | Chase Bank | Newtek Bank |
|---|---|---|
| Chase Savings℠ | Personal High Yield Savings | |
Current APY | 0.01% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -1.3 |
Days Since Change | 365 | 74 |
12-Month High | 0.01% | 4.35% |
12-Month Low | 0.01% | 4.20% |
Adjustments / Mo | 0.00 | 0.08 |
Volatility Score | 0.000 | 0.015 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Chase Bank's APY of 0.01% with other banks
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|---|---|---|
| Chase Bank vs Ally Bank | 3.10% | $0 |
| Chase Bank vs American Express | 3.20% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.75% | $0 |
| Chase Bank vs Capital One | 3.20% | $0 |
| Chase Bank vs Chime | 3.00% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs Discover Bank | 3.30% | $0 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Chase Bank vs Openbank | 4.00% | $500 |
| Chase Bank vs Pibank | 4.40% | $0 |
| Chase Bank vs SoFi Bank | 4.00% | $0 |
| Chase Bank vs Synchrony Bank | 3.40% | $0 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
| Chase Bank vs Wealthfront | 4.20% | $0 |