EverBank vs. Newtek Bank
Comparing EverBank and Newtek Bank for high-yield savings: EverBank's Performance Savings pays 3.90% 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 $30 more than EverBank annually ($420 vs $390).
Choose EverBank if you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | EverBankPerformance Savings Apr 21, 2026 | Newtek BankPersonal High Yield Savings Apr 21, 2026 |
|---|---|---|
| APY | 3.90% | 4.20% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $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 EverBank vs. Newtek Bank
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.20%, making it the winner in this comparison. This account is online-only and requires a minimum deposit of just $0.01, with no maintenance fees or direct deposit requirements, making it a straightforward option for savers. In contrast, EverBank's Performance Savings account provides a lower APY of 3.90% and is also online-only, with no minimum deposit or maintenance fees. While both banks offer appealing savings products, Newtek Bank stands out for its higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why EverBank?
- ✓Physical branch access (11 locations in Florida and California)
- ✓Higher rated Android app (4.7 vs 3.9)
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.90%) 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 $390/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $975/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
EverBankEverBank offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.7 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $30 more interest on a $10,000 balance than EverBank's Performance Savings.
*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
EverBank vs. Newtek Bank Savings Calculator
You earn $30 more with Newtek Bank than EverBank 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.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 $389 per year in interest.
Both EverBank and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | EverBank | Newtek Bank |
|---|---|---|
| APY | 3.90% Verified: 4/21/2026 Stable (90d) | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Performance Savings | 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 | 11 locations in Florida and California | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Native integration verified. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at EverBank 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 | EverBank | Newtek Bank |
|---|---|---|
| Performance Savings | Personal High Yield Savings | |
Current APY | 3.90% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.6 | -1.3 |
Days Since Change | 123 | 74 |
12-Month High | 4.30% | 4.35% |
12-Month Low | 3.90% | 4.20% |
Adjustments / Mo | 0.16 | 0.08 |
Volatility Score | 0.042 | 0.015 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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