Elevault vs. Newtek Bank
Comparing Elevault and Newtek Bank for high-yield savings: Elevault's High Yield Savings Account pays 3.82% APY while Newtek Bank's Personal High Yield Savings pays 4.20% APY.
Note: Elevault caps its top rate at $250,000.
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 $38 more than Elevault annually ($420 vs $382).
Choose Newtek Bank if getting the best rate matters most, you want a no-strings-attached account, or you're an iPhone user.
| Metric | ElevaultHigh Yield Savings Account Apr 21, 2026 | Newtek BankPersonal High Yield Savings Apr 21, 2026 |
|---|---|---|
| APY | 3.82% | 4.20% |
Est. Earnings | $5,000+$191 $10,000+$382 $25,000+$955 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
Terms | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | - |
| Features | FDIC InsuredNo MinimumsDaily 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 Elevault vs. Newtek Bank
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.20%, making it the better option compared to Elevault's High Yield Savings Account, which has an APY of 3.82%. Newtek Bank's account is appealing for its simplicity, as it does not require a direct deposit, has no maintenance fees, and is available for deposits starting at just $0.01. In contrast, Elevault's account limits the 3.82% APY to balances up to $250,000, with a daily deposit limit of $2,500. Both accounts are online-only and FDIC insured, but Newtek Bank stands out with its higher yield.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Elevault?
No distinct advantages found vs Newtek Bank.
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.82%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.5 vs 3.6)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $382/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $955/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $38 more interest on a $10,000 balance than Elevault's High Yield 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
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Elevault vs. Newtek Bank Savings Calculator
You earn $38 more with Newtek Bank than Elevault 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.
Elevault
High Yield Savings Account
3.82% on first $250,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$382.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,382.00
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 $381 per year in interest.
Both Elevault and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Elevault | Newtek Bank |
|---|---|---|
| APY | 3.82% Verified: 4/21/2026 Stable (90d) | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change |
| Product Name | High Yield 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 | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A | A+ |
| Important Notes | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | - |
| Next Steps | Visit SiteVerify at Elevault 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 | Elevault | Newtek Bank |
|---|---|---|
| High Yield Savings Account | Personal High Yield Savings | |
Current APY | 3.82% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -10.8 | -2.3 |
Days Since Change | 126 | 74 |
8-Month High | 4.60% | 4.35% |
8-Month Low | 3.82% | 4.20% |
Adjustments / Mo | 0.35 | 0.12 |
Volatility Score | 0.071 | 0.016 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Elevault's APY of 3.82% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Elevault vs Ally Bank | 3.10% | $0 |
| Elevault vs American Express | 3.20% | $0 |
| Elevault vs Axos Bank | 4.21% | $0 |
| Elevault vs Barclays | 3.75% | $0 |
| Elevault vs Capital One | 3.20% | $0 |
| Elevault vs Chime | 3.00% | $0 |
| Elevault vs CIT Bank | 3.75% | $100 |
| Elevault vs Discover Bank | 3.30% | $0 |
| Elevault vs EverBank | 3.90% | $0 |
| Elevault vs Marcus by Goldman Sachs | 3.50% | $0 |
| Elevault vs Openbank | 4.00% | $500 |
| Elevault vs Pibank | 4.40% | $0 |
| Elevault vs SoFi Bank | 4.00% | $0 |
| Elevault vs Synchrony Bank | 3.40% | $0 |
| Elevault vs Varo Bank | 5.00% | $0 |
| Elevault vs Wealthfront | 4.20% | $0 |