Chime vs. Newtek Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 21, 2026 | Newtek BankPersonal High Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 4.35% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$217 $10,000+$435 $25,000+$1,088 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
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 Chime vs. Newtek Bank
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to Newtek Bank's 4.35% APY for its Personal High Yield Savings account, with a minimum balance of $0.01.
Newtek Bank pays $85 more than Chime on a $10,000 balance after one year. Chime pays $350, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
Why Chime?
- ✓Higher rated iOS app (4.8 vs 4.5)
- ✓Higher rated Android app (4.8 vs 4.0)
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 3.50%) 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. $435 vs $350/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $875/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
ChimeChime offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.8 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $85 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Newtek Bank offers a competitive Personal High Yield Savings account with an impressive APY of 4.35%, making it the clear winner in this comparison. This account requires a minimum deposit of just $0.01 and has no direct deposit requirements, ensuring simplicity for users. In contrast, Chime's High-Yield Savings Account provides a lower APY of 3.50% and mandates a qualifying direct deposit of $200 or more within the past 34 days, along with a minimum balance of $0.01. Both accounts are online-only and have no maintenance fees, but Newtek Bank stands out for its higher returns and straightforward terms.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. Newtek Bank Savings Calculator
You earn $85 more with Newtek Bank than Chime 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.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$435.00(4.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,435.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Chime | Newtek Bank |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/21/2026 Stable (90d) | 4.35% Verified: 1/21/2026 Stable (90d) |
| Product Name | Chime High-Yield Savings Account | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.5 Android4.0 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Chime 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 | Chime | Newtek Bank |
|---|---|---|
| Chime High-Yield Savings Account | Personal High Yield Savings | |
Current APY | 3.50% | 4.35% |
Trend | Stable | Stable |
Velocity (bps/mo) | 8.5 | -0.9 |
Days Since Change | 97 | 285 |
12-Month High | 3.75% | 4.55% |
12-Month Low | 2.00% | 4.35% |
Adjustments / Mo | 0.17 | 0.17 |
Volatility Score | 0.175 | 0.011 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Chime vs...
Comparing against other Bundled Accounts
Compare Newtek Bank vs...
Comparing against Standard Savings