Citibank vs. Newtek Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Citibank vs. Newtek Bank
Key Metrics at a Glance
| Feature | Citibank | Newtek Bank |
|---|---|---|
| Top Savings APY | 3.35% Citi Accelerate Savings | 4.35% Personal High Yield Savings |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $0.01 |
Citibank
Strengths
- Citi Accelerate Savings has a low minimum balance requirement of $0.01.
- Citi Accelerate Savings offers a competitive APY of 3.35%, though it decreased from 3.40% last month.
- CitiBank has a high App Store rating of 4.9.
Potential Drawbacks
- CitiBank has a low BBB rating of D- and is not BBB Accredited.
- Citi Accelerate Savings charges a maintenance fee of $4.50 unless balance requirements are met.
- CitiBank has limited branch availability, primarily in six metropolitan areas.
Newtek Bank
Strengths
- Newtek Bank offers a high APY of 4.35% with no maintenance fees.
- Newtek Bank has an A+ BBB rating and is BBB Accredited.
- Newtek Bank has no branch locations, making it entirely online.
Potential Drawbacks
- Newtek Bank has a lower App Store rating of 4.5 compared to CitiBank.
- Newtek Bank's Google Play rating is lower at 4.2.
- Newtek Bank does not have any physical branches.
→ As of November 12, 2025 Citibank offers an APY of 3.35% for its Citi Accelerate 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 yields $100 more than Citibank on a $10,000 balance after one year. Citibank pays $335, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
→ In addition, Citibank also offers 0.03% APY for the Citi® Savings Account account.
Calculate Savings Growth for Citibank vs Newtek Bank
Citibank - Citi Accelerate Savings
Total savings breakdown:
- Interest earned: $2,018.8 (10.08%)
- Total contributions: $13,000 (64.94%)
- Initial deposit: $5,000 (24.98%)
Your total balance
$20,018.80
Total balance: $20,018.8
Earnings: $2,018.8
Bank OverviewNewtek Bank - Personal High Yield Savings
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Total balance: $20,662
Earnings: $2,662
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Citibank's total earnings would be $643.2 lower than Newtek Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Citibank's vs Newtek Bank's Savings Accounts
| Citibank | Newtek Bank | |||
|---|---|---|---|---|
| Product | Citi Accelerate Savings | Citi® Savings Account | vs | Personal High Yield Savings |
| APY | 3.35% (as of 11/12/2025) | 0.03% (as of 11/12/2025) | 4.35% (as of 11/12/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | No | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0.01 | $0.01 | |
| Maintenance Fee | $4.50. Waived for average monthly balances > $500 | $4.50. Waived for average monthly balances > $500 | $0 | |
| Direct Deposit Required | No | No | No | |
| Eligibility | Alaska, Alabama, Arkansas, Arizona, Colorado, Delaware, Florida (select parts), Georgia, Hawaii, Iowa, Idaho, Illinois (select parts), Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia (partial), Washington (partial), Wisconsin, West Virginia, Wyoming. | California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia (partial), Washington D.C., and select parts of Florida and Illinois. In addition, promotional rates may be available if requirements are met. | United States | |
| App Store Rating | 4.9/5 | 4.5/5 | ||
| Google Play Rating | 4.8/5 | 4.2/5 | ||
| BBB Rating | D- | A+ | ||
Comparative Historical APY Insights (Last 9 Months)
| Citibank | Newtek Bank | |||
|---|---|---|---|---|
| Product | Citi® Savings Account | Citi Accelerate Savings | vs | Personal High Yield Savings |
| Latest APY | 0.03 % | 3.35 % | 4.35 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -4.8 | -1.5 | |
| Rate Changes / Mo | 0.00 | 0.52 | 0.21 | |
| Days Since Last Change | 289 | 9 | 216 | |
| High (-9 m) | 0.03 % | 3.80 % | 4.55 % | |
| Low (-9 m) | 0.03 % | 3.35 % | 4.35 % | |
| Draw-down from High | 0.0 % | -11.8 % | -4.4 % | |
| Volatility (CV) | 0.000 | 0.039 | 0.014 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-9 m)
- Highest APY in the last 289 days.
- Low (-9 m)
- Lowest APY in the last 289 days.
- Draw-down from High
- How far today sits below the 9-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.