E*TRADE from Morgan Stanley vs. Newtek Bank
Comparing E*TRADE from Morgan Stanley and Newtek Bank for high-yield savings: E*TRADE from Morgan Stanley's Premium Savings Account pays 3.35% 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 $85 more than E*TRADE from Morgan Stanley annually ($420 vs $335).
Choose E*TRADE from Morgan Stanley if you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most, or BBB rating matters to you.
| Metric | E*TRADE from Morgan StanleyPremium Savings Account Mar 24, 2026 | Newtek BankPersonal High Yield Savings Mar 24, 2026 |
|---|---|---|
| APY | 3.35% | 4.20% |
Est. Earnings | $5,000+$168 $10,000+$335 $25,000+$838 | $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 AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
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 E*TRADE from Morgan Stanley vs. Newtek Bank
Executive Summary
Newtek Bank offers a higher APY of 4.20% on its Personal High Yield Savings account, making it the winner in this comparison. This account requires a minimum deposit of just $0.01 and has no maintenance fees, providing a simple and accessible option for savers. In contrast, E*TRADE from Morgan Stanley features a Premium Savings Account with a lower APY of 3.35%, but it also has no minimum deposit or maintenance fees. Both accounts are online-only and do not require direct deposit, catering to a wide range of customers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why E*TRADE from Morgan Stanley?
- ✓Higher rated Android app (4.7 vs 4.0)
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.35%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $335/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $838/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
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.7 (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 E*TRADE from Morgan Stanley's Premium Savings Account.
*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
E*TRADE from Morgan Stanley vs. Newtek Bank Savings Calculator
You earn $85 more with Newtek Bank than E*TRADE from Morgan Stanley 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.
E*TRADE from Morgan Stanley
Premium Savings Account
Savings Breakdown
- Interest Earned+$335.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,335.00
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $334 per year in interest.
Both E*TRADE from Morgan Stanley and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | E*TRADE from Morgan Stanley | Newtek Bank |
|---|---|---|
| APY | 3.35% Verified: 3/24/2026 ↘︎ 0.15%90d Change | 4.20% Verified: 3/24/2026 ↘︎ 0.15%90d Change |
| Product Name | Premium Savings Account | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0+ | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Premium Savings and Checking. | Not Supported |
| BBB Rating | D- | A+ |
| Next Steps | Visit SiteVerify at E*TRADE from Morgan Stanley 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 | E*TRADE from Morgan Stanley | Newtek Bank |
|---|---|---|
| Premium Savings Account | Personal High Yield Savings | |
Current APY | 3.35% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.5 | -1.1 |
Days Since Change | 49 | 46 |
12-Month High | 4.00% | 4.45% |
12-Month Low | 3.35% | 4.20% |
Adjustments / Mo | 0.25 | 0.16 |
Volatility Score | 0.067 | 0.014 |
How to read these metrics(Click to expand)
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