Citibank vs. Newtek Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | CitibankCiti Accelerate Savings Jan 7, 2026 | Newtek BankPersonal High Yield Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.30% | 4.35% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$217 $10,000+$435 $25,000+$1,088 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | 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 Citibank vs. Newtek Bank
As of Citibank offers an APY of 3.30% 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 pays $105 more than Citibank on a $10,000 balance after one year. Citibank pays $330, 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, with a minimum balance of $0.01.
Why Citibank?
- ✓Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
- ✓Higher rated iOS app (4.9 vs 4.5)
- ✓Higher rated Android app (4.8 vs 4.1)
- ✓Fast transfers via Zelle® (up to $2,500 a day)
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 3.30%) on all balances
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $330/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $825/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
CitibankCitibank offers an iOS app rated 4.9 (vs. 4.5) and Android app rated 4.8 (vs. 4.1)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $105 more interest on a $10,000 balance than Citibank's Citi Accelerate Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Newtek Bank offers a standout Personal High Yield Savings account with an impressive APY of 4.35%, making it a strong choice for savers. This online-only product requires a minimum deposit of just $0.01 and has no maintenance fees, providing simplicity and better returns compared to Citibank's Citi Accelerate Savings account, which offers a lower APY of 3.30%. While Citibank also has the Citi® Savings Account with a minimal APY of 0.03%, it is not as competitive. Notably, Citibank's eligibility is restricted to select states, whereas Newtek Bank does not have such limitations.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Citibank vs. Newtek Bank Savings Calculator
You earn $105 more with Newtek Bank than Citibank 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.
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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 | Citibank | Newtek Bank |
|---|---|---|
| APY | 3.30% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.35% Verified: 1/7/2026 Stable (90d) |
| Product Name | Citi Accelerate Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $4.50. Waived for average monthly balances > $500 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.5 Android4.1 |
| Zelle® Support | Available Limit: $2,500/dayTiered limits based on account status (Citigold higher). | Not Supported |
| BBB Rating | D- | A+ |
| Important Notes | Eligibility restricted to select states. | - |
| Next Steps | Visit SiteVerify at Citibank 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 | Citibank | Newtek Bank | |
|---|---|---|---|
| Citi® Savings Account | Citi Accelerate Savings | Personal High Yield Savings | |
Current APY | 0.03% | 3.30% | 4.35% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.8 | -1.1 |
Days Since Change | 343 | 50 | 271 |
11-Month High | 0.03% | 3.80% | 4.55% |
11-Month Low | 0.03% | 3.30% | 4.35% |
Adjustments / Mo | 0.00 | 0.52 | 0.17 |
Volatility Score | 0.000 | 0.047 | 0.012 |
How to read these metrics(Click to expand)
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